Simplicity Solutions LLC Sells 2,008 Shares of Baker Hughes (NASDAQ:BKR)

Simplicity Solutions LLC lessened its stake in shares of Baker Hughes (NASDAQ:BKR) by 9.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,578 shares of the company’s stock after selling 2,008 shares during the period. Simplicity Solutions LLC’s holdings in Baker Hughes were worth $635,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in BKR. Bruce G. Allen Investments LLC bought a new position in shares of Baker Hughes in the 4th quarter valued at $33,000. OFI Invest Asset Management bought a new position in shares of Baker Hughes in the 3rd quarter valued at $36,000. Quarry LP increased its stake in shares of Baker Hughes by 41.3% in the 2nd quarter. Quarry LP now owns 1,132 shares of the company’s stock valued at $36,000 after purchasing an additional 331 shares during the last quarter. Rational Advisors LLC increased its stake in shares of Baker Hughes by 44.0% in the 3rd quarter. Rational Advisors LLC now owns 1,250 shares of the company’s stock valued at $44,000 after purchasing an additional 382 shares during the last quarter. Finally, Covestor Ltd increased its stake in shares of Baker Hughes by 104.7% in the 1st quarter. Covestor Ltd now owns 1,349 shares of the company’s stock valued at $49,000 after purchasing an additional 690 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Insider Activity

In other news, SVP James E. Apostolides sold 5,000 shares of the business’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $33.88, for a total value of $169,400.00. Following the transaction, the senior vice president now directly owns 14,998 shares of the company’s stock, valued at approximately $508,132.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP James E. Apostolides sold 10,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total value of $294,400.00. Following the completion of the sale, the senior vice president now directly owns 14,451 shares of the company’s stock, valued at approximately $425,437.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP James E. Apostolides sold 5,000 shares of the business’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $33.88, for a total value of $169,400.00. Following the completion of the sale, the senior vice president now directly owns 14,998 shares of the company’s stock, valued at $508,132.24. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BKR. Royal Bank of Canada reiterated an “outperform” rating and issued a $39.00 price target on shares of Baker Hughes in a research note on Thursday, February 1st. Barclays cut their price objective on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a report on Friday, January 26th. Susquehanna reissued a “positive” rating and set a $40.00 price objective on shares of Baker Hughes in a report on Monday, April 8th. TD Cowen raised their price objective on Baker Hughes from $46.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Finally, Citigroup cut their price objective on Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, January 26th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Baker Hughes currently has an average rating of “Moderate Buy” and a consensus price target of $40.87.

Baker Hughes Stock Down 0.2 %

Shares of BKR opened at $32.02 on Thursday. The company has a market capitalization of $32.05 billion, a PE ratio of 16.76, a PEG ratio of 0.67 and a beta of 1.42. Baker Hughes has a 12 month low of $26.81 and a 12 month high of $37.58. The stock’s 50-day moving average price is $31.55 and its two-hundred day moving average price is $32.60. The company has a current ratio of 1.25, a quick ratio of 0.86 and a debt-to-equity ratio of 0.38.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Wednesday, January 24th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.04. The company had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.93 billion. Baker Hughes had a return on equity of 10.63% and a net margin of 7.62%. The firm’s revenue was up 15.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.38 EPS. On average, analysts anticipate that Baker Hughes will post 2.07 EPS for the current year.

Baker Hughes Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Tuesday, February 13th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.62%. This is an increase from Baker Hughes’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, February 12th. Baker Hughes’s payout ratio is currently 43.98%.

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.