Citizens Business Bank Reduces Holdings in Baker Hughes (NASDAQ:BKR)

Citizens Business Bank lowered its stake in shares of Baker Hughes (NASDAQ:BKR) by 3.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 92,173 shares of the company’s stock after selling 3,112 shares during the quarter. Citizens Business Bank’s holdings in Baker Hughes were worth $3,150,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bruce G. Allen Investments LLC purchased a new position in shares of Baker Hughes during the fourth quarter valued at approximately $33,000. OFI Invest Asset Management bought a new position in shares of Baker Hughes during the third quarter valued at $36,000. Rational Advisors LLC raised its position 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 worth $44,000 after purchasing an additional 382 shares during the last quarter. Clearstead Advisors LLC boosted its stake in Baker Hughes by 38.2% in the 3rd quarter. Clearstead Advisors LLC now owns 1,523 shares of the company’s stock worth $54,000 after purchasing an additional 421 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Baker Hughes during the 3rd quarter valued at about $76,000. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Insider Activity

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

Wall Street Analysts Forecast Growth

BKR has been the topic of several analyst reports. Susquehanna reiterated a “positive” rating and issued a $40.00 target price on shares of Baker Hughes in a research note on Monday, April 8th. Benchmark reissued a “buy” rating and issued a $40.00 target price on shares of Baker Hughes in a research report on Wednesday, April 24th. TD Cowen increased their price objective on shares of Baker Hughes from $46.00 to $49.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Wolfe Research cut shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a report on Monday, January 29th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $39.00 target price on shares of Baker Hughes in a research note on Thursday, February 1st. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $40.94.

Baker Hughes Trading Down 1.8 %

Shares of BKR stock traded down $0.60 during trading hours on Tuesday, reaching $32.62. 9,582,593 shares of the stock were exchanged, compared to its average volume of 8,731,166. The company has a current ratio of 1.25, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38. Baker Hughes has a 12-month low of $26.81 and a 12-month high of $37.58. The firm has a market capitalization of $32.65 billion, a price-to-earnings ratio of 18.56, a price-to-earnings-growth ratio of 0.62 and a beta of 1.42. The company’s 50-day moving average price is $32.13 and its 200-day moving average price is $32.50.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. Baker Hughes had a return on equity of 11.42% and a net margin of 6.95%. The firm had revenue of $6.42 billion for the quarter, compared to analysts’ expectations of $6.37 billion. During the same quarter in the prior year, the firm posted $0.28 earnings per share. The company’s quarterly revenue was up 12.3% on a year-over-year basis. As a group, equities analysts anticipate that Baker Hughes will post 2.08 earnings per share for the current year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 6th will be paid a $0.21 dividend. The ex-dividend date is Friday, May 3rd. This represents a $0.84 annualized dividend and a yield of 2.58%. Baker Hughes’s dividend payout ratio (DPR) is currently 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.