Quadrant Capital Group LLC Sells 1,131 Shares of Baker Hughes Company $BKR

by · The Cerbat Gem

Quadrant Capital Group LLC cut its holdings in Baker Hughes Company (NASDAQ:BKR – Free Report) by 5.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,733 shares of the company’s stock after selling 1,131 shares during the period. Quadrant Capital Group LLC’s holdings in Baker Hughes were worth $795,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nuveen LLC acquired a new stake in Baker Hughes during the first quarter worth approximately $404,385,000. American Century Companies Inc. boosted its holdings in shares of Baker Hughes by 38.0% during the 2nd quarter. American Century Companies Inc. now owns 7,602,803 shares of the company’s stock worth $291,492,000 after buying an additional 2,094,079 shares in the last quarter. 1832 Asset Management L.P. acquired a new stake in shares of Baker Hughes during the 1st quarter worth approximately $70,685,000. Strs Ohio bought a new stake in shares of Baker Hughes in the 1st quarter valued at $60,490,000. Finally, AQR Capital Management LLC lifted its position in shares of Baker Hughes by 27.8% during the 1st quarter. AQR Capital Management LLC now owns 5,457,164 shares of the company’s stock valued at $234,958,000 after acquiring an additional 1,185,456 shares during the period. 92.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Baker Hughes

In related news, CAO Rebecca L. Charlton sold 1,000 shares of the business’s stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total transaction of $50,000.00. Following the transaction, the chief accounting officer directly owned 11,772 shares in the company, valued at approximately $588,600. The trade was a 7.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Sreeganesh Ramaswamy sold 25,000 shares of the company’s stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total transaction of $1,250,000.00. Following the completion of the sale, the executive vice president directly owned 40,520 shares of the company’s stock, valued at $2,026,000. The trade was a 38.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.27% of the company’s stock.

Baker Hughes Stock Performance

Shares of BKR opened at $50.16 on Tuesday. The firm has a market capitalization of $49.50 billion, a P/E ratio of 17.30, a P/E/G ratio of 2.06 and a beta of 1.03. Baker Hughes Company has a 52 week low of $33.60 and a 52 week high of $50.92. The stock has a 50 day moving average price of $48.02 and a two-hundred day moving average price of $43.83. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41.

Baker Hughes (NASDAQ:BKR – Get Free Report) last posted its earnings results on Friday, November 18th. The company reported $0.16 earnings per share for the quarter. The company had revenue of $5.09 billion for the quarter. Baker Hughes had a return on equity of 14.22% and a net margin of 10.43%. Equities analysts forecast that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Tuesday, November 4th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Tuesday, November 4th. Baker Hughes’s payout ratio is currently 31.72%.

Wall Street Analysts Forecast Growth

BKR has been the topic of several research analyst reports. Cowen reissued a “buy” rating on shares of Baker Hughes in a research note on Monday, October 27th. Capital One Financial increased their price objective on shares of Baker Hughes from $49.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 16th. Melius began coverage on Baker Hughes in a research note on Wednesday, August 20th. They issued a “buy” rating and a $60.00 target price for the company. JPMorgan Chase & Co. upped their price target on Baker Hughes from $52.00 to $53.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 30th. Finally, Bank of America increased their price target on Baker Hughes from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, October 14th. Twenty-three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $53.42.

Read Our Latest Research Report on Baker Hughes

About Baker Hughes

(Free Report)

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.

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