Brown Advisory Inc. Acquires Shares of 1,825,038 Baker Hughes (NYSE:BKR)

Brown Advisory Inc. acquired a new stake in Baker Hughes (NYSE:BKRGet Rating) during the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 1,825,038 shares of the company’s stock, valued at approximately $66,450,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Benjamin Edwards Inc. grew its stake in shares of Baker Hughes by 180.7% in the fourth quarter. Benjamin Edwards Inc. now owns 1,075 shares of the company’s stock valued at $26,000 after acquiring an additional 692 shares in the last quarter. Riverview Trust Co acquired a new position in shares of Baker Hughes in the first quarter valued at about $27,000. Duncker Streett & Co. Inc. grew its stake in shares of Baker Hughes by 100.0% in the fourth quarter. Duncker Streett & Co. Inc. now owns 2,000 shares of the company’s stock valued at $48,000 after acquiring an additional 1,000 shares in the last quarter. Washington Trust Advisors Inc. grew its stake in shares of Baker Hughes by 40.7% in the first quarter. Washington Trust Advisors Inc. now owns 1,624 shares of the company’s stock valued at $59,000 after acquiring an additional 470 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its position in Baker Hughes by 18.5% during the fourth quarter. Quadrant Capital Group LLC now owns 2,781 shares of the company’s stock worth $67,000 after purchasing an additional 434 shares during the period. 92.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Stephens cut their price objective on shares of Baker Hughes from $40.00 to $32.00 in a research report on Thursday, July 21st. Barclays cut their price objective on shares of Baker Hughes from $46.00 to $44.00 in a research report on Thursday, July 21st. Stifel Nicolaus upped their price objective on shares of Baker Hughes from $34.00 to $41.00 in a research report on Friday, April 8th. Seaport Res Ptn reaffirmed a “buy” rating on shares of Baker Hughes in a research report on Thursday, July 21st. Finally, Royal Bank of Canada cut their price objective on shares of Baker Hughes from $41.00 to $36.00 in a research report on Thursday, July 21st. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.86.

Insider Buying and Selling at Baker Hughes

In other news, Director Michael R. Dumais bought 10,000 shares of the firm’s stock in a transaction on Thursday, July 21st. The stock was acquired at an average price of $24.39 per share, with a total value of $243,900.00. Following the transaction, the director now owns 24,977 shares of the company’s stock, valued at approximately $609,189.03. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In other Baker Hughes news, CEO Lorenzo Simonelli sold 103,000 shares of the stock in a transaction that occurred on Tuesday, May 31st. The shares were sold at an average price of $37.39, for a total transaction of $3,851,170.00. Following the completion of the sale, the chief executive officer now owns 472,759 shares of the company’s stock, valued at approximately $17,676,459.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael R. Dumais bought 10,000 shares of the firm’s stock in a transaction on Thursday, July 21st. The shares were purchased at an average cost of $24.39 per share, with a total value of $243,900.00. Following the transaction, the director now directly owns 24,977 shares in the company, valued at approximately $609,189.03. The disclosure for this purchase can be found here. Insiders own 0.29% of the company’s stock.

Baker Hughes Stock Up 1.5 %

Shares of NYSE BKR opened at $24.06 on Friday. The company has a 50 day simple moving average of $29.53 and a 200 day simple moving average of $31.55. The firm has a market cap of $24.51 billion, a PE ratio of -55.95 and a beta of 1.42. Baker Hughes has a 1 year low of $19.84 and a 1 year high of $39.78. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.51 and a quick ratio of 1.08.

Baker Hughes (NYSE:BKRGet Rating) last issued its quarterly earnings data on Wednesday, July 20th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.11). The business had revenue of $5.05 billion during the quarter, compared to the consensus estimate of $5.34 billion. Baker Hughes had a negative net margin of 2.27% and a positive return on equity of 3.82%. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.10 EPS. On average, research analysts forecast that Baker Hughes will post 0.94 EPS for the current year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 19th. Shareholders of record on Tuesday, August 9th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Monday, August 8th. Baker Hughes’s dividend payout ratio is presently -167.44%.

Baker Hughes Company Profile

(Get Rating)

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. It operates through four segments: Oilfield Services (OFS), Oilfield Equipment (OFE), Turbomachinery & Process Solutions (TPS), and Digital Solutions (DS). The OFS segment offers exploration, drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, wireline services, downhole completion tools and systems, wellbore intervention tools and services, pressure pumping systems, oilfield and industrial chemicals, and artificial lift technologies for oil and natural gas, and oilfield service companies.

Further Reading

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Institutional Ownership by Quarter for Baker Hughes (NYSE:BKR)

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