Baker Hughes Company (NASDAQ:BKR) Shares Bought by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its holdings in Baker Hughes by 2.6%, owning approximately 0.73% of the company after purchasing an additional 187,589 shares, bringing the total to over 7.27 million shares.
• Baker Hughes reported an EPS of $0.63 for the last quarter, surpassing analysts' expectations of $0.55, despite a 3.2% decline in revenue year-over-year.
• The company declared a quarterly dividend of $0.23 per share, resulting in an annualized yield of 2.1%, with a payout ratio currently at 30.07%.

Charles Schwab Investment Management Inc. grew its stake in Baker Hughes Company (NASDAQ:BKR - Free Report) by 2.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,274,492 shares of the company's stock after purchasing an additional 187,589 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.73% of Baker Hughes worth $319,714,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in BKR. Envestnet Asset Management Inc. grew its position in shares of Baker Hughes by 31.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 604,433 shares of the company's stock valued at $24,794,000 after purchasing an additional 143,797 shares in the last quarter. Cerity Partners LLC grew its position in Baker Hughes by 17.3% in the fourth quarter. Cerity Partners LLC now owns 155,580 shares of the company's stock worth $6,177,000 after acquiring an additional 22,928 shares during the period. Advisory Services Network LLC purchased a new position in Baker Hughes in the fourth quarter worth approximately $874,000. APG Asset Management N.V. grew its position in Baker Hughes by 1.6% in the fourth quarter. APG Asset Management N.V. now owns 247,905 shares of the company's stock worth $9,820,000 after acquiring an additional 4,005 shares during the period. Finally, CenterBook Partners LP purchased a new position in Baker Hughes in the fourth quarter worth approximately $763,000. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BKR has been the subject of several analyst reports. Susquehanna increased their price objective on Baker Hughes from $46.00 to $52.00 and gave the stock a "positive" rating in a research report on Thursday, July 24th. Industrial Alliance Securities set a $53.00 price target on shares of Baker Hughes in a research note on Wednesday, July 30th. Evercore ISI boosted their price target on shares of Baker Hughes from $53.00 to $55.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. BMO Capital Markets reissued an "outperform" rating and issued a $53.00 price target (up from $46.00) on shares of Baker Hughes in a research note on Wednesday, July 30th. Finally, Jefferies Financial Group set a $58.00 price target on Baker Hughes in a research report on Wednesday, July 30th. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $51.47.

Insider Transactions at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 526,568 shares of the business's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $44.42, for a total value of $23,390,150.56. Following the transaction, the chief executive officer owned 667,593 shares in the company, valued at $29,654,481.06. The trade was a 44.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.27% of the stock is owned by company insiders.

Baker Hughes Stock Down 0.4%

NASDAQ:BKR traded down $0.19 during midday trading on Tuesday, reaching $42.51. The company had a trading volume of 5,113,786 shares, compared to its average volume of 7,985,458. The firm has a market capitalization of $41.91 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 1.98 and a beta of 0.94. The stock's fifty day simple moving average is $40.47 and its 200-day simple moving average is $40.82. Baker Hughes Company has a 12-month low of $32.25 and a 12-month high of $49.40. The company has a current ratio of 1.41, a quick ratio of 1.00 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.55 by $0.08. The firm had revenue of $6.91 billion during the quarter, compared to analyst estimates of $6.64 billion. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%. Baker Hughes's revenue was down 3.2% compared to the same quarter last year. During the same period last year, the business posted $0.57 earnings per share. On average, sell-side analysts anticipate 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 given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.2%. The ex-dividend date is Tuesday, August 5th. Baker Hughes's payout ratio is 30.07%.

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.