RFG Advisory LLC Sells 12,796 Shares of Baker Hughes Company $BKR

Key Points

• RFG Advisory LLC reduced its holdings in Baker Hughes Company by 61.2%, selling 12,796 shares and now owning 8,097 shares valued at approximately $310,000.
• CEO Lorenzo Simonelli sold 526,568 shares at an average price of $44.42, resulting in a total transaction value of over $23 million and a 44.10% decrease in his position.
• Baker Hughes declared a quarterly dividend of $0.23 per share, representing an annualized dividend yield of 2.0% and a current dividend payout ratio of 30.07%.

RFG Advisory LLC trimmed its position in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 61.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,097 shares of the company's stock after selling 12,796 shares during the period. RFG Advisory LLC's holdings in Baker Hughes were worth $310,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Alpine Woods Capital Investors LLC grew its holdings in Baker Hughes by 4.0% during the 2nd quarter. Alpine Woods Capital Investors LLC now owns 44,593 shares of the company's stock valued at $1,710,000 after purchasing an additional 1,716 shares during the last quarter. Heartland Bank & Trust Co bought a new position in Baker Hughes during the 2nd quarter valued at about $334,000. NorthRock Partners LLC grew its holdings in Baker Hughes by 54.2% during the 2nd quarter. NorthRock Partners LLC now owns 13,584 shares of the company's stock valued at $521,000 after purchasing an additional 4,774 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in Baker Hughes by 266.0% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 127,646 shares of the company's stock valued at $4,894,000 after purchasing an additional 92,768 shares during the last quarter. Finally, Vest Financial LLC grew its holdings in Baker Hughes by 66.6% during the 2nd quarter. Vest Financial LLC now owns 742,494 shares of the company's stock valued at $28,467,000 after purchasing an additional 296,796 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors.

Insider Transactions at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 526,568 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The shares were 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 of the company's stock, valued at approximately $29,654,481.06. This represents a 44.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Sreeganesh Ramaswamy sold 25,000 shares of the company's stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total transaction of $1,250,000.00. Following the completion of the sale, the executive vice president directly owned 40,520 shares of the company's stock, valued at $2,026,000. The trade was a 38.16% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 553,068 shares of company stock valued at $24,712,651. Company insiders own 0.27% of the company's stock.

Baker Hughes Price Performance

Shares of BKR opened at $45.18 on Monday. The company has a 50 day moving average price of $46.08 and a 200-day moving average price of $41.36. Baker Hughes Company has a fifty-two week low of $33.60 and a fifty-two week high of $50.92. The stock has a market capitalization of $44.54 billion, a PE ratio of 14.76, a PEG ratio of 1.95 and a beta of 0.99. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings results on Friday, November 18th. The company reported $0.16 earnings per share for the quarter. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. The firm had revenue of $5.09 billion during the quarter. Equities analysts predict that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Tuesday, August 5th. Baker Hughes's dividend payout ratio is presently 30.07%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on BKR shares. Stifel Nicolaus cut their price target on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a report on Wednesday, July 16th. JPMorgan Chase & Co. upped their target price on shares of Baker Hughes from $52.00 to $53.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 30th. TD Cowen upped their target price on shares of Baker Hughes from $52.00 to $54.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Susquehanna upped their target price on shares of Baker Hughes from $52.00 to $56.00 and gave the stock a "positive" rating in a research note on Thursday, October 2nd. Finally, The Goldman Sachs Group dropped their target price on shares of Baker Hughes from $42.00 to $41.00 and set a "buy" rating on the stock in a research note on Wednesday, July 2nd. Twenty-two analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Baker Hughes currently has a consensus rating of "Moderate Buy" and a consensus target price of $52.91.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.