Baker Hughes (NASDAQ:BKR) Stake Lessened by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado lowered its holdings in Baker Hughes (NASDAQ:BKR) by 3.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,603 shares of the company’s stock after selling 3,522 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Baker Hughes were worth $3,644,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Redmont Wealth Advisors LLC purchased a new position in Baker Hughes during the 1st quarter valued at about $27,000. New Covenant Trust Company N.A. purchased a new position in Baker Hughes during the first quarter valued at approximately $34,000. Alta Advisers Ltd purchased a new position in Baker Hughes during the second quarter valued at approximately $42,000. Headlands Technologies LLC acquired a new position in Baker Hughes in the 2nd quarter valued at approximately $48,000. Finally, UMB Bank n.a. lifted its position in Baker Hughes by 281.2% in the 1st quarter. UMB Bank n.a. now owns 1,582 shares of the company’s stock worth $53,000 after buying an additional 1,167 shares in the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Price Performance

Shares of BKR stock opened at $36.04 on Monday. The stock’s fifty day simple moving average is $35.19 and its 200 day simple moving average is $33.71. Baker Hughes has a one year low of $28.32 and a one year high of $39.05. The firm has a market cap of $35.97 billion, a price-to-earnings ratio of 20.13, a P/E/G ratio of 0.54 and a beta of 1.38. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 0.86.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Thursday, July 25th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.08. The business had revenue of $7.10 billion for the quarter, compared to analyst estimates of $6.81 billion. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.39 EPS. On average, analysts expect that Baker Hughes will post 2.24 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Tuesday, August 6th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date was Tuesday, August 6th. Baker Hughes’s dividend payout ratio (DPR) is currently 46.93%.

Analyst Ratings Changes

Several equities analysts have recently commented on BKR shares. Morgan Stanley lowered their price target on shares of Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. UBS Group lowered their target price on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. Piper Sandler dropped their price target on Baker Hughes from $45.00 to $44.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Evercore ISI boosted their price objective on shares of Baker Hughes from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Finally, Wells Fargo & Company increased their target price on shares of Baker Hughes from $35.00 to $40.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $43.19.

Insider Transactions at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 114,286 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $35.00, for a total transaction of $4,000,010.00. Following the completion of the sale, the chief executive officer now directly owns 502,053 shares of the company’s stock, valued at approximately $17,571,855. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is owned by company insiders.

About Baker Hughes

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.