Baker Hughes (NYSE:BKR) EVP Maria C. Borras sold 7,097 shares of the company’s stock in a transaction that occurred on Thursday, June 10th. The stock was sold at an average price of $26.16, for a total value of $185,657.52. Following the transaction, the executive vice president now owns 118,274 shares in the company, valued at approximately $3,094,047.84. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Shares of NYSE BKR traded up $0.40 during midday trading on Friday, hitting $25.91. 5,336,420 shares of the stock traded hands, compared to its average volume of 8,368,051. The stock has a 50-day moving average price of $22.90. The stock has a market capitalization of $26.99 billion, a price-to-earnings ratio of -98.12 and a beta of 1.77. The company has a quick ratio of 1.17, a current ratio of 1.59 and a debt-to-equity ratio of 0.39. Baker Hughes has a one year low of $12.13 and a one year high of $26.57.
Baker Hughes (NYSE:BKR) last released its quarterly earnings results on Tuesday, April 20th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.01. The firm had revenue of $4.78 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Baker Hughes had a positive return on equity of 0.21% and a negative net margin of 0.85%. The company’s revenue was down 11.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.11 EPS. On average, equities analysts anticipate that Baker Hughes will post 0.72 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 4th. Stockholders of record on Tuesday, May 25th were issued a dividend of $0.18 per share. The ex-dividend date was Monday, May 24th. This represents a $0.72 annualized dividend and a dividend yield of 2.78%. Baker Hughes’s payout ratio is 122.03%.
A number of brokerages have recently commented on BKR. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their price target on Baker Hughes from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, May 25th. Citigroup boosted their price target on Baker Hughes from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, May 25th. Credit Suisse Group dropped their price target on Baker Hughes from $21.00 to $20.50 and set an “outperform” rating on the stock in a research report on Thursday, April 22nd. COKER & PALMER raised Baker Hughes from a “sector perform” rating to a “sector outperform” rating in a research report on Sunday, April 25th. Finally, Barclays raised Baker Hughes from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $25.00 to $28.00 in a research report on Monday, May 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the stock. Baker Hughes presently has a consensus rating of “Buy” and an average target price of $23.69.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP lifted its holdings 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 buying an additional 1,200 shares during the period. E Fund Management Co. Ltd. purchased a new stake in shares of Baker Hughes in the 1st quarter worth $28,000. TD Ameritrade Investment Management LLC purchased a new stake in shares of Baker Hughes in the 4th quarter worth $29,000. Stonebridge Capital Advisors LLC purchased a new stake in shares of Baker Hughes in the 1st quarter worth $40,000. Finally, Gradient Investments LLC purchased a new stake in shares of Baker Hughes in the 1st quarter worth $41,000. 95.64% of the stock is currently owned by hedge funds and other institutional investors.
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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