Xponance Inc. reduced its stake in Baker Hughes (NASDAQ:BKR – Free Report) by 4.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 124,321 shares of the company’s stock after selling 5,293 shares during the period. Xponance Inc.’s holdings in Baker Hughes were worth $3,588,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. boosted its position in shares of Baker Hughes by 12.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 5,664 shares of the company’s stock valued at $167,000 after purchasing an additional 605 shares in the last quarter. Wedbush Securities Inc. boosted its position in shares of Baker Hughes by 3.8% during the fourth quarter. Wedbush Securities Inc. now owns 14,368 shares of the company’s stock valued at $424,000 after purchasing an additional 532 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Baker Hughes by 40.5% during the fourth quarter. Victory Capital Management Inc. now owns 801,576 shares of the company’s stock valued at $25,143,000 after purchasing an additional 231,129 shares in the last quarter. Banque Pictet & Cie SA boosted its position in shares of Baker Hughes by 16.4% during the fourth quarter. Banque Pictet & Cie SA now owns 84,071 shares of the company’s stock valued at $2,483,000 after purchasing an additional 11,846 shares in the last quarter. Finally, Clarius Group LLC boosted its position in shares of Baker Hughes by 34.1% during the first quarter. Clarius Group LLC now owns 11,259 shares of the company’s stock valued at $325,000 after purchasing an additional 2,863 shares in the last quarter. 92.62% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
BKR has been the topic of several research reports. UBS Group initiated coverage on Baker Hughes in a research report on Wednesday, April 19th. They set a “neutral” rating and a $31.00 price target on the stock. Susquehanna boosted their target price on Baker Hughes from $35.00 to $38.00 and gave the stock a “positive” rating in a report on Thursday, April 20th. HSBC boosted their target price on Baker Hughes from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, April 21st. Capital One Financial began coverage on Baker Hughes in a report on Wednesday, June 7th. They issued an “overweight” rating and a $38.00 target price on the stock. Finally, Barclays boosted their target price on Baker Hughes from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, April 20th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Baker Hughes presently has an average rating of “Moderate Buy” and a consensus price target of $35.75.
Insider Transactions at Baker Hughes
Baker Hughes Stock Performance
Shares of BKR opened at $31.61 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.32 and a debt-to-equity ratio of 0.40. The business has a 50-day simple moving average of $29.09 and a two-hundred day simple moving average of $29.63. The stock has a market cap of $32.00 billion, a price-to-earnings ratio of -287.36 and a beta of 1.48. Baker Hughes has a 52 week low of $20.42 and a 52 week high of $33.12.
Baker Hughes (NASDAQ:BKR – Free Report) last released its quarterly earnings data on Wednesday, April 19th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. The firm had revenue of $5.72 billion during the quarter, compared to analyst estimates of $5.52 billion. Baker Hughes had a positive return on equity of 7.13% and a negative net margin of 0.44%. The business’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.15 earnings per share. On average, analysts expect that Baker Hughes will post 1.5 EPS for the current year.
Baker Hughes Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 9th. Stockholders of record on Tuesday, May 30th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date was Friday, May 26th. Baker Hughes’s dividend payout ratio (DPR) is -690.91%.
Baker Hughes Profile
Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. It operates through two segments: Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET). 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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