Maria Georgia Magno Sells 5,063 Shares of Baker Hughes (NASDAQ:BKR) Stock

Key Points

• Maria Georgia Magno sold 5,063 shares of Baker Hughes at an average price of $59.04 on March 11, reducing her stake by 24.56% to 15,555 shares and generating about $298,920 (SEC filing).
• Baker Hughes beat quarterly expectations with EPS of $0.78 versus $0.67 and revenue of $7.39 billion versus $7.09 billion, posting a net margin of 9.33% and ROE of 14.26%.
• The stock traded down about 2.9% to $54.26 on heavy volume (~17.46M), while analyst sentiment remains largely positive (20 Buy, 2 Hold) with a consensus target of $59.61 and several price-target raises up to $70.

Baker Hughes Company (NASDAQ:BKR - Get Free Report) insider Maria Georgia Magno sold 5,063 shares of the company's stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $59.04, for a total value of $298,919.52. Following the completion of the transaction, the insider owned 15,555 shares of the company's stock, valued at $918,367.20. The trade was a 24.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Maria Georgia Magno also recently made the following trade(s):

• On Monday, February 9th, Maria Georgia Magno sold 19,150 shares of Baker Hughes stock. The stock was sold at an average price of $59.11, for a total value of $1,131,956.50.

Baker Hughes Trading Down 2.9%

NASDAQ:BKR traded down $1.64 during mid-day trading on Friday, reaching $54.26. The company's stock had a trading volume of 17,459,380 shares, compared to its average volume of 8,790,979. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.36 and a quick ratio of 1.00. The stock has a market cap of $53.62 billion, a P/E ratio of 20.87, a P/E/G ratio of 1.51 and a beta of 0.83. The company's fifty day simple moving average is $57.31 and its two-hundred day simple moving average is $50.75. Baker Hughes Company has a twelve month low of $33.60 and a twelve month high of $67.00.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings data on Monday, January 26th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.11. Baker Hughes had a net margin of 9.33% and a return on equity of 14.26%. The business had revenue of $7.39 billion for the quarter, compared to analyst estimates of $7.09 billion. During the same period in the prior year, the firm posted $0.70 EPS. The company's revenue was up .3% on a year-over-year basis. On average, equities analysts predict that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $0.92 dividend on an annualized basis and a yield of 1.7%. Baker Hughes's dividend payout ratio (DPR) is currently 35.38%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. TD Cowen boosted their price objective on shares of Baker Hughes from $55.00 to $64.00 and gave the company a "buy" rating in a research note on Tuesday, January 27th. Stifel Nicolaus lifted their target price on Baker Hughes from $58.00 to $63.00 and gave the company a "buy" rating in a report on Monday, February 2nd. Evercore reissued an "outperform" rating and set a $68.00 price target on shares of Baker Hughes in a research report on Wednesday, February 11th. Argus upped their price target on Baker Hughes from $55.00 to $67.00 in a research note on Tuesday, January 27th. Finally, BMO Capital Markets raised their price objective on Baker Hughes from $65.00 to $70.00 and gave the stock an "outperform" rating in a report on Tuesday, March 3rd. Twenty analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Baker Hughes presently has an average rating of "Moderate Buy" and a consensus target price of $59.61.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Activest Wealth Management grew its stake in shares of Baker Hughes by 1,242.5% in the third quarter. Activest Wealth Management now owns 537 shares of the company's stock valued at $26,000 after buying an additional 497 shares in the last quarter. EFG International AG acquired a new position in Baker Hughes during the 4th quarter worth approximately $26,000. Cullen Frost Bankers Inc. boosted its holdings in Baker Hughes by 344.1% in the 4th quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company's stock worth $27,000 after acquiring an additional 468 shares during the period. E Fund Management Hong Kong Co. Ltd. boosted its holdings in Baker Hughes by 104.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company's stock worth $32,000 after acquiring an additional 337 shares during the period. Finally, Quarry LP acquired a new stake in Baker Hughes in the fourth quarter valued at approximately $31,000. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Company 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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