Baker Hughes Company $BKR Shares Sold by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI cut its holdings in Baker Hughes Company (NASDAQ:BKR - Free Report) by 33.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,021 shares of the company's stock after selling 60,368 shares during the period. Citizens Financial Group Inc. RI's holdings in Baker Hughes were worth $7,266,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of BKR. EFG International AG purchased a new position in shares of Baker Hughes in the 4th quarter valued at about $26,000. Cullen Frost Bankers Inc. raised its position in shares of Baker Hughes by 344.1% during the 4th quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company's stock worth $27,000 after acquiring an additional 468 shares in the last quarter. Quarry LP purchased a new stake in Baker Hughes during the fourth quarter worth approximately $31,000. MV Capital Management Inc. acquired a new position in Baker Hughes in the fourth quarter valued at approximately $34,000. Finally, Acumen Wealth Advisors LLC acquired a new position in Baker Hughes in the fourth quarter valued at approximately $35,000. 92.06% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 181,411 shares of the company's stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $58.43, for a total transaction of $10,599,844.73. Following the completion of the sale, the chief executive officer directly owned 703,444 shares of the company's stock, valued at $41,102,232.92. This represents a 20.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Rebecca L. Charlton sold 5,088 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total value of $326,751.36. Following the sale, the chief accounting officer directly owned 15,997 shares of the company's stock, valued at $1,027,327.34. The trade was a 24.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 367,910 shares of company stock worth $22,420,797. Corporate insiders own 0.19% of the company's stock.

Baker Hughes Price Performance

BKR stock opened at $57.56 on Monday. The company has a market cap of $57.10 billion, a price-to-earnings ratio of 18.39, a price-to-earnings-growth ratio of 2.06 and a beta of 0.96. The company has a fifty day moving average price of $61.78 and a 200 day moving average price of $59.22. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.13 and a quick ratio of 1.77. Baker Hughes Company has a 12 month low of $38.37 and a 12 month high of $70.41.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.09. The company had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $6.71 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. Baker Hughes's revenue for the quarter was up 2.5% on a year-over-year basis. During the same period last year, the firm posted $0.51 EPS. Sell-side analysts expect that Baker Hughes Company will post 2.29 earnings per share for the current year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th were paid a dividend of $0.23 per share. The ex-dividend date was Tuesday, May 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.6%. Baker Hughes's dividend payout ratio is 29.39%.

Baker Hughes News Roundup

Here are the key news stories impacting Baker Hughes this week:

• Positive Sentiment: Baker Hughes won EU antitrust approval for its $13.6 billion acquisition of Chart Industries after agreeing to divest certain LNG technology assets, removing a key regulatory hurdle for the deal. Baker Hughes wins conditional EU nod for $13.6 billion Chart deal
• Positive Sentiment: The company also secured substantial equipment and services awards for Cheniere’s Sabine Pass LNG facility, including liquefaction equipment and turbine upgrades, reinforcing growth in its LNG infrastructure business. Baker Hughes Secures Substantial Equipment and Services Awards for Cheniere's Sabine Pass LNG Facility
• Positive Sentiment: Reuters reported that U.S. energy firms added rigs for a fourth straight week, which can signal steadier upstream activity and support demand for Baker Hughes’ oilfield services. US energy firms add rigs for fourth week in a row, says Baker Hughes
• Positive Sentiment: Wolfe Research initiated coverage with an “outperform” rating and a $70 price target, suggesting additional upside versus recent trading levels. The Fly coverage note
• Neutral Sentiment: Brokerage sentiment remains constructive overall, with Baker Hughes receiving an average “Moderate Buy” rating from analysts.
• Neutral Sentiment: Short-interest data showed no meaningful change in shares sold short, so it does not appear to be a major trading driver today.
• Negative Sentiment: One article noted Baker Hughes is closing a facility and laying off employees, which could raise restructuring concerns, though the impact appears secondary to the stronger LNG and deal-related headlines. HBJ: Baker Hughes closing facility, laying off employees

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Baker Hughes from $60.00 to $74.00 and gave the company an "overweight" rating in a research note on Monday, April 27th. Royal Bank Of Canada upped their target price on shares of Baker Hughes from $68.00 to $71.00 and gave the company an "outperform" rating in a report on Monday, April 27th. Wall Street Zen raised shares of Baker Hughes from a "hold" rating to a "buy" rating in a research report on Sunday. HSBC lifted their price target on shares of Baker Hughes from $67.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, April 27th. Finally, Citigroup boosted their price target on shares of Baker Hughes from $74.00 to $75.00 and gave the company a "buy" rating in a research report on Wednesday. Eighteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Baker Hughes presently has a consensus rating of "Moderate Buy" and a consensus price target of $70.14.

About Baker Hughes

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm's roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE's oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.

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