Baker Hughes Company (NASDAQ:BKR) Shares Sold by Kestra Private Wealth Services LLC

Key Points

• Kestra Private Wealth Services LLC reduced its stake in Baker Hughes Company by 46.0%, downsizing to 13,202 shares valued at $580,000.
• Baker Hughes recently reported earnings of $0.63 EPS, exceeding expectations and generating revenues of $6.91 billion for the quarter.
• Wall Street analysts have lowered their price targets for Baker Hughes, with the consensus rating now reflecting a "Moderate Buy" and a price target of $49.50.

Kestra Private Wealth Services LLC trimmed its position in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 46.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,202 shares of the company's stock after selling 11,253 shares during the period. Kestra Private Wealth Services LLC's holdings in Baker Hughes were worth $580,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Baker Hughes during the fourth quarter valued at about $829,092,000. Neuberger Berman Group LLC boosted its stake in Baker Hughes by 2,527.6% during the fourth quarter. Neuberger Berman Group LLC now owns 3,319,418 shares of the company's stock worth $136,158,000 after buying an additional 3,193,089 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Baker Hughes during the fourth quarter worth $128,542,000. FMR LLC boosted its stake in Baker Hughes by 12.5% during the fourth quarter. FMR LLC now owns 15,702,057 shares of the company's stock worth $644,098,000 after buying an additional 1,744,225 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Baker Hughes by 18.4% during the fourth quarter. Northern Trust Corp now owns 10,000,756 shares of the company's stock worth $410,231,000 after buying an additional 1,553,536 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 526,568 shares of the firm's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $44.42, for a total transaction of $23,390,150.56. Following the transaction, the chief executive officer owned 667,593 shares in the company, valued at approximately $29,654,481.06. This trade represents a 44.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.27% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on BKR shares. Susquehanna raised their price objective on shares of Baker Hughes from $46.00 to $52.00 and gave the stock a "positive" rating in a report on Thursday. Stifel Nicolaus dropped their price objective on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. TD Securities dropped their price objective on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Evercore ISI dropped their price objective on shares of Baker Hughes from $52.00 to $50.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Finally, TD Cowen lifted their target price on Baker Hughes from $52.00 to $54.00 and gave the company a "buy" rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $49.50.

Baker Hughes Trading Up 0.7%

NASDAQ:BKR traded up $0.33 during midday trading on Friday, reaching $46.05. 5,858,210 shares of the stock traded hands, compared to its average volume of 8,074,655. The company has a fifty day moving average of $38.89 and a 200 day moving average of $40.95. Baker Hughes Company has a 12 month low of $32.25 and a 12 month high of $49.40. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.93 and a current ratio of 1.41. The stock has a market capitalization of $45.62 billion, a P/E ratio of 15.05, a PEG ratio of 5.78 and a beta of 0.91.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $6.64 billion. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. The company's quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.57 EPS. On average, research analysts predict that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, August 5th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Tuesday, August 5th. Baker Hughes's dividend payout ratio (DPR) is presently 30.07%.

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.