Keybank National Association OH Trims Position in Baker Hughes (NASDAQ:BKR)

Posted by Defense World Staff on Apr 21st, 2023

Keybank National Association OH decreased its position in shares of Baker Hughes (NASDAQ:BKR – Get Rating) by 22.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 15,037 shares of the company’s stock after selling 4,277 shares during the period. Keybank National Association OH’s holdings in Baker Hughes were worth $444,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Covestor Ltd raised its stake in Baker Hughes by 104.7% during the first quarter. Covestor Ltd now owns 1,349 shares of the company’s stock worth $49,000 after purchasing an additional 690 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Baker Hughes during the fourth quarter worth approximately $48,000. Private Trust Co. NA purchased a new position in Baker Hughes during the second quarter worth approximately $52,000. Miller Wealth Advisors LLC raised its stake in Baker Hughes by 100.0% during the fourth quarter. Miller Wealth Advisors LLC now owns 2,050 shares of the company’s stock worth $60,000 after purchasing an additional 1,025 shares during the period. Finally, Ameliora Wealth Management Ltd. purchased a new position in Baker Hughes during the third quarter worth approximately $47,000. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Insiders Place Their Bets

In other Baker Hughes news, EVP Maria C. Borras sold 9,811 shares of the firm’s stock in a transaction on Tuesday, January 31st. The shares were sold at an average price of $30.93, for a total transaction of $303,454.23. Following the completion of the transaction, the executive vice president now directly owns 59,463 shares of the company’s stock, valued at approximately $1,839,190.59. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.24% of the stock is owned by company insiders.

Baker Hughes Price Performance

Shares of BKR stock opened at $30.09 on Friday. The firm has a market cap of $30.43 billion, a P/E ratio of -50.15 and a beta of 1.46. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.32 and a quick ratio of 0.90. Baker Hughes has a 1-year low of $20.42 and a 1-year high of $38.65. The firm has a fifty day moving average of $29.61 and a two-hundred day moving average of $28.98.

Baker Hughes (NASDAQ:BKR – Get Rating) last announced its quarterly earnings data on Wednesday, April 19th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.02. The company had revenue of $5.72 billion during the quarter, compared to analyst estimates of $5.52 billion. Baker Hughes had a negative net margin of 2.85% and a positive return on equity of 5.98%. The firm’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same period last year, the business earned $0.15 EPS. As a group, research analysts anticipate that Baker Hughes will post 1.56 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 17th. Shareholders of record on Monday, February 6th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend was Friday, February 3rd. Baker Hughes’s dividend payout ratio is currently -126.67%.

Analyst Ratings Changes

BKR has been the topic of a number of research reports. Benchmark initiated coverage on shares of Baker Hughes in a research note on Thursday, January 19th. They issued a “buy” rating and a $36.00 target price on the stock. HSBC raised their target price on shares of Baker Hughes from $33.30 to $39.00 in a research note on Monday, January 30th. Evercore ISI raised their target price on shares of Baker Hughes from $37.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday. Morgan Stanley raised their target price on shares of Baker Hughes from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday, January 4th. Finally, UBS Group initiated coverage on shares of Baker Hughes in a research note on Wednesday. They issued a “neutral” rating and a $31.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $35.58.

Baker Hughes Company Profile

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Baker Hughes Co is a holding company, which engages in the provision of oilfield products, services, and digital solutions. It operates through the Oilfield Services and Equipment (OFSE) and industrial and Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides services for onshore and offshore oilfield operations.