Insider Buying: Baker Hughes (NASDAQ:BKR) Director Purchases 10,000 Shares of Stock

Baker Hughes Company (NASDAQ:BKR) Director John Rice acquired 10,000 shares of Baker Hughes stock in a transaction dated Tuesday, November 3rd. The shares were acquired at an average price of $53.10 per share, with a total value of $531,000.00. Following the completion of the acquisition, the director directly owned 77,315 shares of the company’s stock, valued at approximately $4,105,426.50. The trade was a 14.86% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Baker Hughes Stock Down 7.5%

NASDAQ:BKR traded down $3.72 on Thursday, hitting $46.15. The stock had a trading volume of 17,268,319 shares, compared to its average volume of 8,757,992. The stock has a market cap of $45.81 billion, a P/E ratio of 15.91, a price-to-earnings-growth ratio of 2.52 and a beta of 1.07. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.90 and a current ratio of 1.24. The firm’s fifty day simple moving average is $57.52 and its two-hundred day simple moving average is $60.07. Baker Hughes Company has a 1 year low of $44.26 and a 1 year high of $70.41.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Tuesday, October 27th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. The company had revenue of $8.03 billion for the quarter, compared to analysts’ expectations of $7.74 billion. Baker Hughes had a return on equity of 13.55% and a net margin of 10.08%. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.68 EPS. Analysts predict that Baker Hughes Company will post 2.56 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Tuesday, November 10th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Tuesday, November 10th. Baker Hughes’s dividend payout ratio (DPR) is presently 31.72%.

Wall Street Analyst Weigh In

BKR has been the subject of a number of recent analyst reports. Wall Street Zen lowered shares of Baker Hughes from a “buy” rating to a “hold” rating in a report on Wednesday, August 5th. Zacks Research raised Baker Hughes from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 16th. Wolfe Research assumed coverage on Baker Hughes in a report on Wednesday, July 8th. They set an “outperform” rating and a $70.00 price target on the stock. TD Cowen upped their price target on Baker Hughes from $76.00 to $77.00 and gave the company a “buy” rating in a research report on Thursday, October 29th. Finally, Citigroup dropped their price objective on Baker Hughes from $75.00 to $72.00 and set a “buy” rating for the company in a report on Monday, October 19th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $70.27.

Institutional Investors Weigh In On Baker Hughes

Large investors have recently modified their holdings of the stock. Amundi boosted its position in Baker Hughes by 28.2% during the 1st quarter. Amundi now owns 10,946,464 shares of the company’s stock valued at $668,282,000 after acquiring an additional 2,409,978 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Baker Hughes by 4.0% during the 1st quarter. First Trust Advisors LP now owns 9,663,737 shares of the company’s stock worth $589,971,000 after acquiring an additional 374,974 shares during the period. Bank of New York Mellon Corp raised its position in shares of Baker Hughes by 1.8% in the 1st quarter. Bank of New York Mellon Corp now owns 6,738,599 shares of the company’s stock worth $411,391,000 after acquiring an additional 119,388 shares in the last quarter. Bank of America Corp DE raised its position in shares of Baker Hughes by 5.1% in the 1st quarter. Bank of America Corp DE now owns 3,837,618 shares of the company’s stock worth $234,287,000 after acquiring an additional 184,897 shares in the last quarter. Finally, Bessemer Group Inc. lifted its stake in shares of Baker Hughes by 2.1% in the 1st quarter. Bessemer Group Inc. now owns 3,565,158 shares of the company’s stock valued at $217,652,000 after purchasing an additional 73,836 shares during the period. Institutional investors own 92.06% of the company’s stock.

About Baker Hughes

Baker Hughes Company (NASDAQ: BKR) is an energy technology company that provides products, services and digital solutions for the oil and gas industry and other energy-related markets. Its offerings support the exploration, drilling, completion, production and maintenance of energy assets across the lifecycle of a project.

The company’s oilfield services and equipment business provides technologies such as drilling systems, well completions, artificial lift, subsea equipment, production chemicals and well intervention services.