Baker Hughes (NASDAQ:BKR) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. cut its stake in Baker Hughes (NASDAQ:BKR) by 26.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,108 shares of the company’s stock after selling 13,553 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Baker Hughes were worth $1,305,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Spire Wealth Management lifted its position in shares of Baker Hughes by 256.7% during the first quarter. Spire Wealth Management now owns 767 shares of the company’s stock worth $26,000 after purchasing an additional 552 shares during the last quarter. Redmont Wealth Advisors LLC bought a new position in Baker Hughes during the 1st quarter worth approximately $27,000. New Covenant Trust Company N.A. acquired a new position in shares of Baker Hughes in the 1st quarter worth approximately $34,000. Headlands Technologies LLC bought a new stake in shares of Baker Hughes in the 2nd quarter valued at approximately $48,000. Finally, UMB Bank n.a. raised its position in shares of Baker Hughes by 281.2% during the 1st quarter. UMB Bank n.a. now owns 1,582 shares of the company’s stock valued at $53,000 after acquiring an additional 1,167 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on BKR shares. Jefferies Financial Group lifted their price objective on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Benchmark reiterated a “buy” rating and set a $40.00 price objective on shares of Baker Hughes in a research note on Friday, July 26th. Morgan Stanley decreased their target price on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating for the company in a research note on Monday. JPMorgan Chase & Co. increased their price target on Baker Hughes from $42.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Finally, Evercore ISI boosted their price objective on Baker Hughes from $42.00 to $46.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Baker Hughes currently has an average rating of “Moderate Buy” and a consensus target price of $43.19.

Insider Activity at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $35.00, for a total value of $4,000,010.00. Following the sale, the chief executive officer now directly owns 502,053 shares in the company, valued at $17,571,855. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.25% of the company’s stock.

Baker Hughes Stock Down 0.2 %

Baker Hughes stock opened at $34.67 on Thursday. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $39.05. The stock has a market cap of $34.60 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 0.54 and a beta of 1.38. The company’s 50-day moving average price is $35.12 and its two-hundred day moving average price is $33.59. The company has a current ratio of 1.27, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates 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 business’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter last year, the business earned $0.39 earnings per share. On average, analysts expect that Baker Hughes will post 2.24 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Tuesday, August 6th were issued a $0.21 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $0.84 annualized dividend and a dividend yield of 2.42%. Baker Hughes’s dividend payout ratio (DPR) is 46.93%.

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.