Dodge & Cox Decreases Stake in Baker Hughes Company $BKR

Dodge & Cox lowered its stake in Baker Hughes Company (NASDAQ:BKR) by 1.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 44,053,488 shares of the company’s stock after selling 529,325 shares during the quarter. Dodge & Cox’s holdings in Baker Hughes were worth $2,146,286,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in BKR. Norges Bank bought a new position in shares of Baker Hughes in the second quarter worth approximately $862,722,000. Capital International Investors bought a new stake in Baker Hughes during the 3rd quarter valued at $729,670,000. First Trust Advisors LP boosted its position in Baker Hughes by 76.0% during the 2nd quarter. First Trust Advisors LP now owns 7,419,033 shares of the company’s stock valued at $284,446,000 after buying an additional 3,203,942 shares during the period. Capital World Investors boosted its position in Baker Hughes by 7.1% during the 3rd quarter. Capital World Investors now owns 47,546,388 shares of the company’s stock valued at $2,316,462,000 after buying an additional 3,153,709 shares during the period. Finally, Sei Investments Co. grew its holdings in Baker Hughes by 247.5% in the 2nd quarter. Sei Investments Co. now owns 3,134,494 shares of the company’s stock worth $120,177,000 after acquiring an additional 2,232,394 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Price Performance

Shares of BKR stock opened at $54.26 on Friday. The business’s fifty day moving average is $57.31 and its 200 day moving average is $50.75. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 0.28. The stock has a market cap of $53.62 billion, a price-to-earnings ratio of 20.87, a PEG ratio of 1.51 and a beta of 0.83. Baker Hughes Company has a twelve month low of $33.60 and a twelve month high of $67.00.

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

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Tuesday, February 17th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Tuesday, February 17th. Baker Hughes’s dividend payout ratio (DPR) is 35.38%.

Insider Buying and Selling at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 272,594 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $58.79, for a total value of $16,025,801.26. Following the sale, the chief executive officer directly owned 866,444 shares of the company’s stock, valued at $50,938,242.76. The trade was a 23.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Maria Georgia Magno sold 5,063 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $59.04, for a total value of $298,919.52. Following the completion of the sale, the insider owned 15,555 shares in the company, valued at $918,367.20. The trade was a 24.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 590,251 shares of company stock worth $35,311,023. Insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Argus upped their price objective on shares of Baker Hughes from $55.00 to $67.00 in a research note on Tuesday, January 27th. BMO Capital Markets raised their target price on Baker Hughes from $65.00 to $70.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 3rd. Citigroup boosted their price target on Baker Hughes from $61.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, January 27th. Zephirin Group upped their price target on Baker Hughes from $40.00 to $45.00 and gave the company a “hold” rating in a research report on Monday, January 26th. Finally, Wall Street Zen upgraded Baker Hughes from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Twenty equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $59.61.

Baker Hughes Profile

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.