Rebecca Charlton Sells 5,088 Shares of Baker Hughes (NASDAQ:BKR) Stock

Key Points

• Insider sale: Baker Hughes CAO Rebecca Charlton sold 5,088 shares at an average price of $64.22, totaling about $326,751. The sale was made under a pre-arranged Rule 10b5-1 plan and reduced her holdings by 24.13%.
• Stock performance and fundamentals: BKR traded down 0.4% to $64.27, near its 50-day moving average of $63.74 and below its 1-year high of $70.41. The company has a market cap of $63.76 billion and reported stronger-than-expected quarterly EPS of $0.58 on April 23.
• Analyst and dividend outlook: Baker Hughes pays a quarterly dividend of $0.23 per share, yielding about 1.4% annually. Analysts remain generally positive, with a Moderate Buy consensus and an average price target of $69.14.

Baker Hughes Company (NASDAQ:BKR - Get Free Report) CAO Rebecca Charlton sold 5,088 shares of the business's stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total transaction of $326,751.36. Following the completion of the sale, the chief accounting officer directly owned 15,997 shares in the company, valued at approximately $1,027,327.34. This represents a 24.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Baker Hughes Trading Down 0.4%

BKR stock traded down $0.27 during midday trading on Wednesday, hitting $64.27. The stock had a trading volume of 6,236,303 shares, compared to its average volume of 9,296,556. The firm has a market cap of $63.76 billion, a P/E ratio of 20.53, a price-to-earnings-growth ratio of 2.24 and a beta of 0.93. 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 Company has a 1-year low of $36.99 and a 1-year high of $70.41. The business has a fifty day moving average price of $63.74 and a two-hundred day moving average price of $56.95.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.09. The business had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.71 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. Baker Hughes's revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.51 earnings per share. On average, sell-side analysts predict that Baker Hughes Company will post 2.31 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th were issued a dividend of $0.23 per share. The ex-dividend date was Tuesday, May 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.4%. Baker Hughes's dividend payout ratio is currently 29.39%.

Institutional Investors Weigh In On Baker Hughes

Institutional investors and hedge funds have recently made changes to their positions in the business. Bleakley Financial Group LLC grew its position in shares of Baker Hughes by 0.6% during the 1st quarter. Bleakley Financial Group LLC now owns 25,485 shares of the company's stock valued at $1,556,000 after acquiring an additional 163 shares during the period. Resolute Wealth Strategies LLC grew its position in shares of Baker Hughes by 2.7% during the 1st quarter. Resolute Wealth Strategies LLC now owns 6,597 shares of the company's stock valued at $403,000 after acquiring an additional 172 shares during the period. Deseret Mutual Benefit Administrators grew its position in shares of Baker Hughes by 10.5% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,884 shares of the company's stock valued at $86,000 after acquiring an additional 179 shares during the period. Krilogy Financial LLC grew its position in shares of Baker Hughes by 3.2% during the 4th quarter. Krilogy Financial LLC now owns 5,722 shares of the company's stock valued at $261,000 after acquiring an additional 180 shares during the period. Finally, 3Chopt Investment Partners LLC grew its position in shares of Baker Hughes by 0.5% during the 4th quarter. 3Chopt Investment Partners LLC now owns 42,679 shares of the company's stock valued at $1,944,000 after acquiring an additional 203 shares during the period. Institutional investors and hedge funds own 92.06% of the company's stock.

Analysts Set New Price Targets

BKR has been the topic of several research reports. BMO Capital Markets upped their price objective on shares of Baker Hughes from $70.00 to $80.00 and gave the company an "outperform" rating in a report on Monday, April 27th. Zacks Research lowered shares of Baker Hughes from a "hold" rating to a "strong sell" rating in a report on Tuesday, April 28th. Jefferies Financial Group reiterated a "buy" rating and set a $80.00 price objective on shares of Baker Hughes in a report on Sunday, April 26th. Royal Bank Of Canada upped their price objective on shares of Baker Hughes from $68.00 to $71.00 and gave the company an "outperform" rating in a report on Monday, April 27th. Finally, Citigroup dropped their price objective on shares of Baker Hughes from $80.00 to $74.00 and set a "buy" rating on the stock in a report on Wednesday. Eighteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $69.14.

About Baker Hughes

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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