Baker Hughes Company (NASDAQ:BKR) CAO Sells $22,500.00 in Stock

Key Points

• Baker Hughes CAO, Rebecca L. Charlton, sold 500 shares of stock for $22,500, which decreased her ownership in the company to 12,772 shares valued at approximately $574,740.
• The company reported earnings of $0.63 EPS for the last quarter, exceeding estimates and showing a 11.04% net margin, though revenue was down 3.2% year-over-year.
• Baker Hughes recently declared a quarterly dividend of $0.23 per share, with an annualized yield of 2.00%, set to be paid on August 15th.

Baker Hughes Company (NASDAQ:BKR - Get Free Report) CAO Rebecca L. Charlton sold 500 shares of the business's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $45.00, for a total transaction of $22,500.00. Following the sale, the chief accounting officer directly owned 12,772 shares in the company, valued at approximately $574,740. This represents a 3.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Baker Hughes Stock Performance

NASDAQ:BKR traded up $0.33 during mid-day trading on Friday, hitting $46.05. The stock had a trading volume of 5,858,032 shares, compared to its average volume of 8,067,868. The stock has a market capitalization of $45.62 billion, a price-to-earnings ratio of 15.05, a P/E/G ratio of 5.60 and a beta of 0.91. The company has a 50 day simple moving average of $38.72 and a 200-day simple moving average of $40.95. Baker Hughes Company has a 52 week low of $32.25 and a 52 week high of $49.40. The company has a current ratio of 1.41, a quick ratio of 0.93 and a debt-to-equity ratio of 0.33.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.55 by $0.08. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. The firm had revenue of $6.91 billion for the quarter, compared to analysts' expectations of $6.64 billion. During the same quarter last year, the company earned $0.57 EPS. Baker Hughes's quarterly revenue was down 3.2% on a year-over-year basis. On average, research analysts expect that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, August 5th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Tuesday, August 5th. Baker Hughes's dividend payout ratio is currently 30.07%.

Wall Street Analyst Weigh In

A number of research firms recently commented on BKR. UBS Group boosted their price objective on shares of Baker Hughes from $40.00 to $43.00 and gave the stock a "neutral" rating in a report on Thursday. Barclays upped their price target on shares of Baker Hughes from $48.00 to $53.00 and gave the company an "overweight" rating in a report on Thursday. Stifel Nicolaus reduced their price target on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a report on Wednesday, July 16th. TD Cowen upped their price target on shares of Baker Hughes from $52.00 to $54.00 and gave the company a "buy" rating in a report on Thursday. Finally, TD Securities cut their price objective on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $49.50.

Institutional Trading of Baker Hughes

Several institutional investors have recently made changes to their positions in BKR. Wayfinding Financial LLC acquired a new stake in shares of Baker Hughes during the first quarter worth approximately $28,000. Golden State Wealth Management LLC boosted its holdings in shares of Baker Hughes by 678.7% during the first quarter. Golden State Wealth Management LLC now owns 693 shares of the company's stock worth $30,000 after purchasing an additional 604 shares during the period. N.E.W. Advisory Services LLC acquired a new stake in shares of Baker Hughes during the first quarter worth approximately $30,000. Grove Bank & Trust boosted its holdings in shares of Baker Hughes by 76.2% during the first quarter. Grove Bank & Trust now owns 740 shares of the company's stock worth $33,000 after purchasing an additional 320 shares during the period. Finally, Spire Wealth Management lifted its stake in Baker Hughes by 132.9% in the first quarter. Spire Wealth Management now owns 815 shares of the company's stock valued at $36,000 after acquiring an additional 465 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

About Baker Hughes

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.

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