Envestnet Asset Management Inc. Sells 190,746 Shares of Baker Hughes Company $BKR

Envestnet Asset Management Inc. lessened its holdings in Baker Hughes Company (NASDAQ:BKR) by 35.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 345,823 shares of the company’s stock after selling 190,746 shares during the period. Envestnet Asset Management Inc.’s holdings in Baker Hughes were worth $16,849,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of BKR. Activest Wealth Management grew its holdings in shares of Baker Hughes by 1,242.5% in the third quarter. Activest Wealth Management now owns 537 shares of the company’s stock valued at $26,000 after purchasing an additional 497 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. grew its position in Baker Hughes by 104.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock worth $32,000 after acquiring an additional 337 shares in the last quarter. Harbour Investments Inc. raised its position in Baker Hughes by 61.7% during the second quarter. Harbour Investments Inc. now owns 854 shares of the company’s stock valued at $33,000 after purchasing an additional 326 shares during the period. LFA Lugano Financial Advisors SA bought a new stake in shares of Baker Hughes in the 2nd quarter valued at approximately $36,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in shares of Baker Hughes in the 2nd quarter worth approximately $36,000. 92.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BKR. Capital One Financial raised their target price on shares of Baker Hughes from $53.00 to $59.00 and gave the stock an “overweight” rating in a report on Tuesday, January 27th. iA Financial set a $60.00 price target on shares of Baker Hughes in a report on Tuesday, January 27th. Susquehanna raised their price objective on Baker Hughes from $58.00 to $65.00 and gave the stock a “positive” rating in a report on Tuesday, January 27th. Jefferies Financial Group boosted their price target on shares of Baker Hughes from $59.00 to $67.00 and gave the company a “buy” rating in a report on Saturday, January 31st. Finally, Citigroup raised their target price on shares of Baker Hughes from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, January 27th. Twenty analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $58.78.

Insider Activity

In other news, insider Maria Georgia Magno sold 19,150 shares of the firm’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $59.11, for a total transaction of $1,131,956.50. Following the sale, the insider owned 14,588 shares of the company’s stock, valued at approximately $862,296.68. This trade represents a 56.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Rebecca L. Charlton sold 843 shares of Baker Hughes stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $56.34, for a total value of $47,494.62. Following the sale, the chief accounting officer owned 14,019 shares in the company, valued at $789,830.46. This trade represents a 5.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 40,001 shares of company stock worth $2,322,692. 0.27% of the stock is currently owned by corporate insiders.

Baker Hughes Trading Down 0.3%

Shares of NASDAQ:BKR opened at $61.20 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.36 and a quick ratio of 1.00. Baker Hughes Company has a 1 year low of $33.60 and a 1 year high of $62.27. The firm has a market capitalization of $60.48 billion, a price-to-earnings ratio of 23.54, a price-to-earnings-growth ratio of 1.65 and a beta of 0.89. The business’s 50 day moving average price is $51.17 and its 200-day moving average price is $48.33.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Monday, January 26th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.67 by $0.11. The firm had revenue of $7.39 billion during the quarter, compared to analysts’ expectations of $7.09 billion. Baker Hughes had a return on equity of 14.26% and a net margin of 9.33%.The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the previous year, the business earned $0.70 earnings per share. On average, equities research analysts forecast that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th will be issued a dividend of $0.23 per share. The ex-dividend date is Tuesday, February 17th. This represents a $0.92 dividend on an annualized basis and a yield of 1.5%. Baker Hughes’s dividend payout ratio is 35.38%.

Baker Hughes Company 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.