Thrivent Financial for Lutherans Sells 22,884 Shares of Baker Hughes (NASDAQ:BKR)

Thrivent Financial for Lutherans lessened its position in Baker Hughes (NASDAQ:BKR) by 8.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 235,153 shares of the company’s stock after selling 22,884 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Baker Hughes were worth $8,271,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BKR. Sei Investments Co. lifted its holdings in shares of Baker Hughes by 6.3% during the second quarter. Sei Investments Co. now owns 1,223,571 shares of the company’s stock worth $43,033,000 after buying an additional 73,013 shares during the last quarter. Pacer Advisors Inc. increased its position in Baker Hughes by 2.7% during the second quarter. Pacer Advisors Inc. now owns 140,111 shares of the company’s stock worth $4,928,000 after acquiring an additional 3,740 shares during the period. AE Wealth Management LLC bought a new position in Baker Hughes during the second quarter worth $208,000. Bridges Investment Management Inc. acquired a new position in Baker Hughes during the 2nd quarter valued at $314,000. Finally, Intech Investment Management LLC boosted its holdings in Baker Hughes by 44.8% in the 2nd quarter. Intech Investment Management LLC now owns 197,239 shares of the company’s stock valued at $6,937,000 after purchasing an additional 61,067 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

Analyst Upgrades and Downgrades

BKR has been the topic of several research reports. TD Cowen boosted their price objective on shares of Baker Hughes from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Jefferies Financial Group upped their price target on Baker Hughes from $46.00 to $48.00 and gave the company a “buy” rating in a report on Monday, July 29th. Evercore ISI lifted their price objective on Baker Hughes from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Wells Fargo & Company upgraded Baker Hughes from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $40.00 to $42.00 in a research note on Wednesday. Finally, Bank of America decreased their price target on shares of Baker Hughes from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $43.31.

Baker Hughes Stock Down 3.6 %

Shares of BKR opened at $34.77 on Friday. The company has a market capitalization of $34.70 billion, a P/E ratio of 19.42, a PEG ratio of 0.59 and a beta of 1.38. Baker Hughes has a one year low of $28.32 and a one year high of $39.05. The business’s 50 day simple moving average is $35.21 and its 200-day simple moving average is $33.80. 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 quarterly earnings data on Thursday, July 25th. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.08. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The company had revenue of $7.10 billion for the quarter, compared to analyst estimates of $6.81 billion. During the same quarter in the previous year, the firm earned $0.39 earnings per share. The business’s revenue was up 12.4% on a year-over-year basis. As a group, sell-side analysts predict that Baker Hughes will post 2.25 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Tuesday, August 6th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date was Tuesday, August 6th. Baker Hughes’s dividend payout ratio is currently 46.93%.

Insider Buying and Selling at Baker Hughes

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

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.