Baker Hughes (NASDAQ:BKR) Shares Sold by abrdn plc

abrdn plc trimmed its holdings in Baker Hughes (NASDAQ:BKR) by 6.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,656,449 shares of the company’s stock after selling 245,087 shares during the period. abrdn plc owned 0.37% of Baker Hughes worth $150,079,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Hotchkis & Wiley Capital Management LLC increased its holdings in Baker Hughes by 34.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock valued at $394,775,000 after buying an additional 2,811,940 shares during the last quarter. Yaupon Capital Management LP bought a new position in Baker Hughes in the 3rd quarter worth approximately $47,296,000. Eagle Asset Management Inc. raised its stake in shares of Baker Hughes by 18.6% in the 3rd quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company’s stock worth $198,326,000 after buying an additional 860,219 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Baker Hughes by 436.0% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,004,647 shares of the company’s stock valued at $36,318,000 after buying an additional 817,227 shares in the last quarter. Finally, Groupama Asset Managment increased its stake in Baker Hughes by 1,045.1% in the 3rd quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock worth $32,000 after purchasing an additional 811,711 shares in the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Baker Hughes Stock Performance

NASDAQ BKR opened at $47.40 on Tuesday. The company has a market cap of $46.90 billion, a P/E ratio of 15.91, a P/E/G ratio of 0.89 and a beta of 1.39. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $47.60. The business’s 50 day moving average price is $43.03 and its 200-day moving average price is $39.12. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Thursday, January 30th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. Sell-side analysts predict that Baker Hughes will post 2.55 earnings per share for the current year.

Baker Hughes Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Tuesday, February 11th will be paid a $0.23 dividend. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend is Tuesday, February 11th. Baker Hughes’s payout ratio is currently 28.19%.

Analyst Upgrades and Downgrades

BKR has been the topic of several research analyst reports. Atb Cap Markets cut Baker Hughes from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Stifel Nicolaus raised their price objective on shares of Baker Hughes from $48.00 to $54.00 and gave the stock a “buy” rating in a report on Monday. Wells Fargo & Company increased their target price on shares of Baker Hughes from $49.00 to $54.00 and gave the stock an “overweight” rating in a research report on Monday. Benchmark restated a “buy” rating and issued a $42.00 price objective on shares of Baker Hughes in a research report on Thursday, October 24th. Finally, Bank of America lifted their price target on shares of Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $50.00.

Insiders Place Their Bets

In related news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $44.77, for a total transaction of $358,160.00. Following the completion of the sale, the executive vice president now owns 173,302 shares of the company’s stock, valued at approximately $7,758,730.54. This represents a 4.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.25% of the company’s stock.

Baker Hughes Company Profile

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.