Baker Hughes Company $BKR Stock Holdings Cut by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lessened its position in Baker Hughes Company (NASDAQ:BKR) by 49.3% during the third quarter, Holdings Channel reports. The institutional investor owned 17,624 shares of the company’s stock after selling 17,143 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Baker Hughes were worth $859,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of BKR. Activest Wealth Management raised its position in Baker Hughes by 1,242.5% in the third quarter. Activest Wealth Management now owns 537 shares of the company’s stock worth $26,000 after acquiring an additional 497 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. grew its stake in shares of 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 purchasing an additional 337 shares during the last quarter. Harbour Investments Inc. raised its holdings in shares of Baker Hughes by 61.7% in the 2nd quarter. Harbour Investments Inc. now owns 854 shares of the company’s stock worth $33,000 after purchasing an additional 326 shares in the last quarter. LFA Lugano Financial Advisors SA acquired a new stake in Baker Hughes during the second quarter valued at approximately $36,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in Baker Hughes during the second quarter valued at approximately $36,000. Institutional investors own 92.06% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Zephirin Group upped their price target on Baker Hughes from $40.00 to $45.00 and gave the company a “hold” rating in a report on Monday, January 26th. Capital One Financial lifted their target price on Baker Hughes from $53.00 to $59.00 and gave the stock an “overweight” rating in a report on Tuesday, January 27th. BMO Capital Markets boosted their target price on Baker Hughes from $55.00 to $65.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 27th. HSBC upped their target price on Baker Hughes from $54.00 to $56.00 and gave the company a “buy” rating in a report on Monday, October 27th. Finally, iA Financial set a $60.00 price target on Baker Hughes in a research note on Tuesday, January 27th. Twenty investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $58.78.

Baker Hughes Stock Performance

Shares of BKR stock opened at $61.20 on Friday. The company has a market capitalization of $60.39 billion, a price-to-earnings ratio of 23.54, a P/E/G ratio of 1.65 and a beta of 0.89. Baker Hughes Company has a 1-year low of $33.60 and a 1-year high of $62.27. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 0.28. The stock’s fifty day simple moving average is $51.17 and its 200-day simple moving average is $48.31.

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

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Tuesday, February 17th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $0.92 dividend on an annualized basis and a yield of 1.5%. Baker Hughes’s payout ratio is presently 35.38%.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, Director William G. Beattie sold 18,023 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $57.29, for a total value of $1,032,537.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Rebecca L. Charlton sold 1,985 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $55.77, for a total transaction of $110,703.45. Following the transaction, the chief accounting officer owned 12,052 shares in the company, valued at approximately $672,140.04. This represents a 14.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 40,001 shares of company stock worth $2,322,692. 0.27% of the stock is currently owned by company insiders.

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.