Insider Selling: Baker Hughes (NASDAQ:BKR) EVP Sells 8,000 Shares of Stock

Baker Hughes (NASDAQ:BKR) EVP Maria C. Borras sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the sale, the executive vice president now owns 173,302 shares of the company’s stock, valued at $7,758,730.54. This trade represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Baker Hughes Stock Down 0.6 %

Shares of NASDAQ BKR traded down $0.27 during mid-day trading on Tuesday, reaching $43.28. 7,009,940 shares of the company were exchanged, compared to its average volume of 6,880,536. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37. The stock has a market cap of $42.83 billion, a price-to-earnings ratio of 19.41, a P/E/G ratio of 0.88 and a beta of 1.39. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $47.47. The firm has a 50-day moving average of $43.02 and a 200 day moving average of $38.87.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on BKR shares. The Goldman Sachs Group increased their target price on Baker Hughes from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Barclays boosted their price objective on Baker Hughes from $46.00 to $52.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. BMO Capital Markets upped their price target on shares of Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Citigroup upped their price target on shares of Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, Piper Sandler began coverage on shares of Baker Hughes in a research report on Thursday, December 19th. They issued an “overweight” rating and a $53.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, Baker Hughes presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.06.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. National Pension Service grew its stake in shares of Baker Hughes by 6.4% during the third quarter. National Pension Service now owns 1,362,973 shares of the company’s stock valued at $49,271,000 after acquiring an additional 81,625 shares in the last quarter. Burney Co. grew its position in Baker Hughes by 315.0% during the 4th quarter. Burney Co. now owns 138,788 shares of the company’s stock worth $5,693,000 after purchasing an additional 105,349 shares in the last quarter. Northstar Advisory Group LLC acquired a new stake in shares of Baker Hughes during the 4th quarter valued at $1,180,000. Artemis Investment Management LLP lifted its stake in shares of Baker Hughes by 29.4% in the 4th quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company’s stock valued at $43,233,000 after purchasing an additional 239,773 shares during the last quarter. Finally, Czech National Bank raised its holdings in Baker Hughes by 6.0% in the 4th quarter. Czech National Bank now owns 214,549 shares of the company’s stock worth $8,801,000 after acquiring an additional 12,178 shares during the period. 92.06% of the stock is owned by institutional investors and hedge funds.

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.