Aviva PLC decreased its stake in shares of Baker Hughes (NYSE:BKR) by 3.8% during the 1st quarter, HoldingsChannel.com reports. The firm owned 224,561 shares of the company’s stock after selling 8,973 shares during the quarter. Aviva PLC’s holdings in Baker Hughes were worth $4,853,000 as of its most recent filing with the SEC.
Several other large investors also recently bought and sold shares of the company. E Fund Management Co. Ltd. acquired a new stake in shares of Baker Hughes during the 1st quarter valued at about $28,000. Allworth Financial LP boosted its position in shares of Baker Hughes by 1,111.1% during the 1st quarter. Allworth Financial LP now owns 1,308 shares of the company’s stock valued at $28,000 after acquiring an additional 1,200 shares in the last quarter. TD Ameritrade Investment Management LLC acquired a new stake in shares of Baker Hughes during the 4th quarter valued at about $29,000. Gradient Investments LLC acquired a new stake in shares of Baker Hughes during the 1st quarter valued at about $41,000. Finally, RMR Wealth Builders acquired a new stake in shares of Baker Hughes during the 4th quarter valued at about $56,000. Institutional investors own 95.64% of the company’s stock.
Several brokerages have recently weighed in on BKR. Citigroup lifted their target price on shares of Baker Hughes from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, May 25th. Barclays upgraded shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $25.00 to $28.00 in a research report on Monday, May 3rd. TheStreet upgraded shares of Baker Hughes from a “d+” rating to a “c-” rating in a research report on Monday, April 26th. COKER & PALMER upgraded shares of Baker Hughes from a “sector perform” rating to a “sector outperform” rating in a research report on Sunday, April 25th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their price target on shares of Baker Hughes from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, May 25th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Baker Hughes currently has an average rating of “Buy” and an average target price of $24.42.
In other news, EVP Rami Qasem sold 11,438 shares of the company’s stock in a transaction that occurred on Monday, April 12th. The shares were sold at an average price of $20.33, for a total value of $232,534.54. Following the completion of the transaction, the executive vice president now owns 25,537 shares in the company, valued at $519,167.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Electric Co General sold 43,685,723 shares of the company’s stock in a transaction that occurred on Thursday, April 29th. The shares were sold at an average price of $22.23, for a total transaction of $971,133,622.29. The disclosure for this sale can be found here. Insiders sold 43,704,258 shares of company stock valued at $971,551,814 in the last ninety days. Insiders own 0.29% of the company’s stock.
BKR opened at $23.89 on Wednesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.17 and a current ratio of 1.59. The company has a market capitalization of $24.88 billion, a P/E ratio of -91.88 and a beta of 1.77. The business’s 50 day simple moving average is $23.46. Baker Hughes has a fifty-two week low of $12.13 and a fifty-two week high of $26.57.
Baker Hughes (NYSE:BKR) last issued its earnings results on Tuesday, April 20th. The company reported $0.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.01. Baker Hughes had a negative net margin of 0.85% and a positive return on equity of 0.21%. The firm had revenue of $4.78 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the prior year, the firm earned $0.11 earnings per share. The business’s quarterly revenue was down 11.9% on a year-over-year basis. As a group, equities analysts anticipate that Baker Hughes will post 0.72 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 4th. Shareholders of record on Tuesday, May 25th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend was Monday, May 24th. Baker Hughes’s payout ratio is presently 122.03%.
Baker Hughes Company Profile
Baker Hughes Company provides a portfolio of technologies and services worldwide. The company operates through four segments: Oilfield Services (OFS), Oilfield Equipment (OFE), Turbomachinery & Process Solutions (TPS), and Digital Solutions (DS). The OFS segment offers exploration, drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, completions tools and systems, wellbore intervention tools and services, artificial lift systems, pressure pumping systems, and oilfield and industrial chemicals for oil and natural gas, and oilfield service companies.
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