Orange Investment Advisors Inc. Sells 15,701 Shares of Baker Hughes Company $BKR

Key Points

• Orange Investment Advisors reduced its Baker Hughes stake by 13.3% in the fourth quarter, selling 15,701 shares and leaving it with 102,553 shares valued at about $4.67 million.
• Insider selling has been notable: CEO Lorenzo Simonelli and insider Maria Georgia Magno both sold shares, and insiders collectively sold 550,250 shares worth about $33.0 million over the last 90 days.
• Baker Hughes posted solid results and shareholder returns, with quarterly EPS of $0.58 beating estimates, revenue up 2.5% year over year, and a recently paid quarterly dividend of $0.23 per share.

Orange Investment Advisors Inc. lessened its stake in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 13.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 102,553 shares of the company's stock after selling 15,701 shares during the quarter. Orange Investment Advisors Inc.'s holdings in Baker Hughes were worth $4,670,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Capital International Investors bought a new stake in Baker Hughes during the third quarter worth about $729,670,000. Bessemer Group Inc. increased its stake in shares of Baker Hughes by 12,983.5% in the fourth quarter. Bessemer Group Inc. now owns 3,491,322 shares of the company's stock valued at $158,994,000 after buying an additional 3,464,637 shares in the last quarter. Capital World Investors raised its holdings in shares of Baker Hughes by 7.1% in the third quarter. Capital World Investors now owns 47,546,388 shares of the company's stock valued at $2,316,462,000 after buying an additional 3,153,709 shares during the last quarter. PFA Pension Forsikringsaktieselskab bought a new position in shares of Baker Hughes in the fourth quarter valued at about $119,078,000. Finally, First Trust Advisors LP lifted its position in Baker Hughes by 25.7% during the 3rd quarter. First Trust Advisors LP now owns 9,325,417 shares of the company's stock worth $454,334,000 after buying an additional 1,906,384 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors.

Insider Activity

In other Baker Hughes news, CEO Lorenzo Simonelli sold 272,594 shares of Baker Hughes stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $58.79, for a total value of $16,025,801.26. Following the transaction, the chief executive officer owned 866,444 shares in the company, valued at $50,938,242.76. The trade was a 23.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Maria Georgia Magno sold 5,063 shares of the company's stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $59.04, for a total transaction of $298,919.52. Following the transaction, the insider owned 15,555 shares of the company's stock, valued at approximately $918,367.20. This represents a 24.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 550,250 shares of company stock worth $32,988,331 over the last ninety days. 0.19% of the stock is currently owned by insiders.

Baker Hughes Price Performance

Shares of BKR opened at $65.80 on Friday. The stock has a market cap of $65.28 billion, a P/E ratio of 21.02, a price-to-earnings-growth ratio of 2.37 and a beta of 0.97. Baker Hughes Company has a 1 year low of $35.83 and a 1 year high of $70.41. The stock's 50-day moving average price is $62.66 and its two-hundred day moving average price is $56.11. The company has a current ratio of 2.13, a quick ratio of 1.77 and a debt-to-equity ratio of 0.79.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its earnings results on Thursday, April 23rd. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.49 by $0.09. The firm 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%. The business's quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the company posted $0.51 EPS. On average, equities analysts predict that Baker Hughes Company will post 2.31 earnings per share for the current year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Tuesday, May 5th were given a $0.23 dividend. The ex-dividend date was Tuesday, May 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.4%. Baker Hughes's dividend payout ratio (DPR) is presently 29.39%.

Analyst Ratings Changes

BKR has been the subject of a number of research analyst reports. Stifel Nicolaus boosted their target price on shares of Baker Hughes from $63.00 to $74.00 and gave the stock a "buy" rating in a research note on Monday, April 27th. Evercore reiterated an "outperform" rating and issued a $76.00 price objective on shares of Baker Hughes in a research report on Monday, April 27th. Argus upped their price target on Baker Hughes from $67.00 to $79.00 in a research note on Friday, May 1st. iA Financial set a $60.00 price objective on Baker Hughes in a research report on Tuesday, January 27th. Finally, Wall Street Zen lowered shares of Baker Hughes from a "buy" rating to a "hold" rating in a research note on Saturday, March 28th. Eighteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $69.41.

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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