Barclays PLC Sells 381,752 Shares of Baker Hughes Company $BKR

Key Points

• Barclays PLC cut its Baker Hughes stake by 11.5% in the fourth quarter, selling 381,752 shares and leaving it with 2,952,201 shares valued at about $134.4 million.
• Analysts remain broadly constructive on BKR, with 18 Buy ratings, three Hold ratings and one Sell rating; the stock carries a consensus “Moderate Buy” and a $69.14 price target.
• Baker Hughes reported solid quarterly results and a dividend, beating EPS estimates at $0.58 per share, while paying a $0.23 quarterly dividend that annualizes to $0.92 per share for a 1.5% yield.

Barclays PLC reduced its stake in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 11.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,952,201 shares of the company's stock after selling 381,752 shares during the period. Barclays PLC owned 0.30% of Baker Hughes worth $134,443,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of BKR. Woodline Partners LP raised its position in Baker Hughes by 40.8% during the 1st quarter. Woodline Partners LP now owns 83,650 shares of the company's stock worth $3,676,000 after purchasing an additional 24,225 shares during the last quarter. Focus Partners Wealth raised its position in shares of Baker Hughes by 5.6% in the 1st quarter. Focus Partners Wealth now owns 18,481 shares of the company's stock worth $812,000 after acquiring an additional 986 shares in the last quarter. Jump Financial LLC bought a new position in shares of Baker Hughes in the 2nd quarter worth about $2,301,000. NewEdge Advisors LLC raised its position in shares of Baker Hughes by 4.0% in the 2nd quarter. NewEdge Advisors LLC now owns 46,407 shares of the company's stock worth $1,779,000 after acquiring an additional 1,768 shares in the last quarter. Finally, Nebula Research & Development LLC bought a new position in shares of Baker Hughes in the 2nd quarter worth about $1,014,000. 92.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Barclays reissued an "equal weight" rating and issued a $74.00 price objective (up from $62.00) on shares of Baker Hughes in a research report on Thursday, May 7th. UBS Group lifted their price objective on Baker Hughes from $69.00 to $73.00 and gave the stock a "neutral" rating in a research report on Monday, April 27th. Evercore reissued an "outperform" rating and issued a $76.00 price objective on shares of Baker Hughes in a research report on Monday, April 27th. Zacks Research lowered Baker Hughes from a "hold" rating to a "strong sell" rating in a research report on Tuesday, April 28th. Finally, HSBC lifted their price objective on Baker Hughes from $67.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday, April 27th. Eighteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $69.14.

Baker Hughes Stock Performance

Shares of BKR opened at $62.46 on Tuesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.13 and a quick ratio of 1.77. The stock has a 50-day moving average of $64.16 and a 200-day moving average of $58.03. The company has a market cap of $61.96 billion, a PE ratio of 19.96, a P/E/G ratio of 2.25 and a beta of 0.93. Baker Hughes Company has a one year low of $37.38 and a one year high of $70.41.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its earnings results on Thursday, April 23rd. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.49 by $0.09. The company had revenue of $6.59 billion during the quarter, compared to the consensus estimate of $6.71 billion. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The firm's revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the business posted $0.51 EPS. On average, equities research analysts predict that Baker Hughes Company will post 2.31 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders 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 dividend on an annualized basis and a yield of 1.5%. Baker Hughes's payout ratio is 29.39%.

Insider Transactions at Baker Hughes

In other Baker Hughes news, CAO Rebecca L. Charlton sold 5,088 shares of Baker Hughes stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total transaction of $326,751.36. Following the completion of the transaction, the chief accounting officer owned 15,997 shares in the company, valued at approximately $1,027,327.34. The trade was a 24.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.19% of the company's stock.

Baker Hughes Profile

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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