Baker Hughes Company (NASDAQ:BKR) Shares Sold by Geneos Wealth Management Inc.

Key Points

• Geneos Wealth Management Inc. decreased its holdings in Baker Hughes Company (NASDAQ:BKR) by 10.1%, reducing its position to 108,102 shares worth approximately $4.75 million.
• Baker Hughes recently reported earnings of $0.63 per share, exceeding analysts' expectations by $0.08, despite a 3.2% decline in revenue year-over-year.
• Institutional investors currently own 92.06% of Baker Hughes stock, with multiple hedge funds adjusting their positions, including Capital Research Global Investors which raised its holdings by 0.6%.

Geneos Wealth Management Inc. lowered its position in Baker Hughes Company (NASDAQ:BKR - Free Report) by 10.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 108,102 shares of the company's stock after selling 12,178 shares during the period. Geneos Wealth Management Inc.'s holdings in Baker Hughes were worth $4,751,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of BKR. Wayfinding Financial LLC purchased a new stake in Baker Hughes in the 1st quarter worth approximately $28,000. Golden State Wealth Management LLC boosted its position in Baker Hughes by 678.7% in the 1st quarter. Golden State Wealth Management LLC now owns 693 shares of the company's stock worth $30,000 after purchasing an additional 604 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new stake in Baker Hughes in the 1st quarter worth approximately $30,000. Grove Bank & Trust boosted its position in Baker Hughes by 76.2% in the 1st quarter. Grove Bank & Trust now owns 740 shares of the company's stock worth $33,000 after purchasing an additional 320 shares in the last quarter. Finally, Spire Wealth Management boosted its position in Baker Hughes by 132.9% in the 1st quarter. Spire Wealth Management now owns 815 shares of the company's stock worth $36,000 after purchasing an additional 465 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on BKR. Susquehanna upped 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. Piper Sandler decreased their target price on Baker Hughes from $53.00 to $50.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Citigroup reduced their price objective on Baker Hughes from $54.00 to $53.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. BMO Capital Markets reissued an "outperform" rating and issued a $53.00 price objective (up from $46.00) on shares of Baker Hughes in a research note on Wednesday. Finally, Industrial Alliance Securities set a $53.00 price objective on Baker Hughes in a research note on Wednesday. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Baker Hughes has an average rating of "Moderate Buy" and an average target price of $51.47.

Baker Hughes Stock Down 3.4%

BKR stock traded down $1.54 during trading on Friday, hitting $43.51. 7,323,705 shares of the company's stock were exchanged, compared to its average volume of 8,645,018. The business has a 50-day moving average price of $39.58 and a two-hundred day moving average price of $41.02. The stock has a market capitalization of $42.90 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 5.54 and a beta of 0.94. 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 1.00 and a debt-to-equity ratio of 0.33.

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

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th will be paid a $0.23 dividend. The ex-dividend date is Tuesday, August 5th. This represents a $0.92 dividend on an annualized basis and a yield of 2.1%. Baker Hughes's payout ratio is currently 30.07%.

Insiders Place Their Bets

In other Baker Hughes news, CEO Lorenzo Simonelli sold 526,568 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the chief executive officer owned 667,593 shares in the company, valued at approximately $29,654,481.06. The trade was a 44.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.27% of the company's stock.

Baker Hughes Company Profile

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.