Alyeska Investment Group L.P. lowered its holdings in Baker Hughes (NASDAQ:BKR - Free Report) by 39.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 542,571 shares of the company's stock after selling 349,324 shares during the quarter. Alyeska Investment Group L.P. owned approximately 0.05% of Baker Hughes worth $22,256,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Capital Research Global Investors increased its position in Baker Hughes by 0.6% during the 4th quarter. Capital Research Global Investors now owns 27,687,590 shares of the company's stock valued at $1,135,744,000 after buying an additional 177,232 shares in the last quarter. Geode Capital Management LLC boosted its stake in Baker Hughes by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company's stock worth $1,004,212,000 after purchasing an additional 465,832 shares in the last quarter. Norges Bank acquired a new position in Baker Hughes during the 4th quarter valued at approximately $829,092,000. FMR LLC lifted its stake in shares of Baker Hughes by 12.5% during the fourth quarter. FMR LLC now owns 15,702,057 shares of the company's stock worth $644,098,000 after buying an additional 1,744,225 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Baker Hughes by 8.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 11,552,478 shares of the company's stock valued at $473,880,000 after acquiring an additional 874,297 shares during the period. Hedge funds and other institutional investors own 92.06% of the company's stock.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on BKR shares. Benchmark reissued a "buy" rating and issued a $57.00 price objective on shares of Baker Hughes in a report on Tuesday, February 11th. Royal Bank of Canada decreased their target price on shares of Baker Hughes from $50.00 to $46.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Barclays decreased their price objective on Baker Hughes from $54.00 to $48.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Piper Sandler dropped their target price on Baker Hughes from $53.00 to $50.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Finally, The Goldman Sachs Group boosted their price target on Baker Hughes from $51.00 to $52.00 and gave the company a "buy" rating in a report on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, Baker Hughes has a consensus rating of "Moderate Buy" and an average target price of $49.11.
Read Our Latest Analysis on Baker Hughes
Baker Hughes Price Performance
NASDAQ BKR traded up $0.24 during trading hours on Friday, hitting $36.49. 8,993,628 shares of the company's stock traded hands, compared to its average volume of 7,037,092. The company has a market capitalization of $36.15 billion, a PE ratio of 12.24, a PEG ratio of 2.00 and a beta of 0.96. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. Baker Hughes has a 52-week low of $30.93 and a 52-week high of $49.40. The firm's 50-day moving average is $39.72 and its 200-day moving average is $42.03.
Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. The firm had revenue of $6.43 billion during the quarter, compared to analysts' expectations of $6.54 billion. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. Equities analysts forecast that Baker Hughes will post 2.59 EPS for the current fiscal year.
Baker Hughes Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th will be given a dividend of $0.23 per share. The ex-dividend date is Tuesday, May 6th. This represents a $0.92 annualized dividend and a dividend yield of 2.52%. Baker Hughes's payout ratio is 31.40%.
Baker Hughes Company Profile
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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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