Baker Hughes Company $BKR Position Trimmed by Comerica Bank

Comerica Bank decreased its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 11.0% in the 4th quarter, Holdings Channel reports. The firm owned 145,544 shares of the company’s stock after selling 18,000 shares during the quarter. Comerica Bank’s holdings in Baker Hughes were worth $6,628,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in BKR. Activest Wealth Management increased its stake in Baker Hughes by 1,242.5% during the third quarter. Activest Wealth Management now owns 537 shares of the company’s stock valued at $26,000 after purchasing an additional 497 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. increased its stake in Baker Hughes by 104.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock valued at $32,000 after purchasing an additional 337 shares during the last quarter. JFS Wealth Advisors LLC increased its stake in Baker Hughes by 45.1% during the fourth quarter. JFS Wealth Advisors LLC now owns 811 shares of the company’s stock valued at $37,000 after purchasing an additional 252 shares during the last quarter. Wolff Wiese Magana LLC increased its stake in Baker Hughes by 55.6% during the fourth quarter. Wolff Wiese Magana LLC now owns 840 shares of the company’s stock valued at $38,000 after purchasing an additional 300 shares during the last quarter. Finally, Spire Wealth Management increased its stake in Baker Hughes by 357.8% during the third quarter. Spire Wealth Management now owns 1,021 shares of the company’s stock valued at $50,000 after purchasing an additional 798 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BKR. BMO Capital Markets upped their price target on shares of Baker Hughes from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday. JPMorgan Chase & Co. upped their price target on shares of Baker Hughes from $60.00 to $74.00 and gave the stock an “overweight” rating in a research report on Monday. Argus upped their price target on shares of Baker Hughes from $55.00 to $67.00 in a research report on Tuesday, January 27th. Barclays upped their price target on shares of Baker Hughes from $57.00 to $62.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Evercore restated an “outperform” rating and set a $76.00 price target on shares of Baker Hughes in a research report on Monday. Nineteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $68.09.

Baker Hughes Trading Up 1.2%

Shares of BKR stock opened at $69.67 on Friday. Baker Hughes Company has a 12 month low of $35.10 and a 12 month high of $70.41. The company has a quick ratio of 1.77, a current ratio of 2.13 and a debt-to-equity ratio of 0.79. The business’s 50 day moving average is $61.92 and its two-hundred day moving average is $54.29. The company has a market cap of $68.85 billion, a PE ratio of 22.26, a price-to-earnings-growth ratio of 2.41 and a beta of 0.90.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.49 by $0.09. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The company had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter last year, the company posted $0.51 earnings per share. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. Equities analysts predict that Baker Hughes Company will post 2.32 EPS for the current year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.3%. The ex-dividend date is Tuesday, May 5th. Baker Hughes’s dividend payout ratio (DPR) is 29.39%.

Insider Buying and Selling

In other Baker Hughes news, CEO Lorenzo Simonelli sold 272,594 shares of the stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $58.79, for a total transaction of $16,025,801.26. Following the transaction, the chief executive officer owned 866,444 shares in the company, valued at $50,938,242.76. This trade represents a 23.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Maria Georgia Magno sold 19,150 shares of the stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $59.11, for a total value of $1,131,956.50. Following the transaction, the insider owned 14,588 shares in the company, valued at approximately $862,296.68. This trade represents a 56.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 590,251 shares of company stock worth $35,311,023. 0.19% 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.