Adage Capital Partners GP L.L.C. Sells 96,900 Shares of Baker Hughes (NASDAQ:BKR)

Adage Capital Partners GP L.L.C. cut its position in Baker Hughes (NASDAQ:BKR - Free Report) by 20.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 374,502 shares of the company's stock after selling 96,900 shares during the quarter. Adage Capital Partners GP L.L.C.'s holdings in Baker Hughes were worth $15,362,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. JFS Wealth Advisors LLC lifted its position in Baker Hughes by 135.9% during the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company's stock worth $27,000 after acquiring an additional 386 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Baker Hughes during the fourth quarter worth approximately $30,000. Larson Financial Group LLC boosted its position in Baker Hughes by 41.2% during the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company's stock worth $30,000 after acquiring an additional 216 shares during the last quarter. Kestra Investment Management LLC acquired a new stake in shares of Baker Hughes during the 4th quarter worth about $45,000. Finally, OFI Invest Asset Management acquired a new position in Baker Hughes during the 4th quarter worth $47,000. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Stock Performance

Shares of NASDAQ:BKR traded down $0.52 during trading hours on Wednesday, hitting $35.40. The stock had a trading volume of 10,523,679 shares, compared to its average volume of 6,923,347. The firm has a market capitalization of $35.05 billion, a price-to-earnings ratio of 11.88, a PEG ratio of 2.00 and a beta of 1.08. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. The stock's fifty day simple moving average is $40.95 and its 200 day simple moving average is $42.05. Baker Hughes has a 1-year low of $30.93 and a 1-year high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its 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. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. The business had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.54 billion. Sell-side analysts anticipate that Baker Hughes 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 will be paid on Friday, May 16th. Investors of record on Tuesday, May 6th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, May 6th. This represents a $0.92 annualized dividend and a dividend yield of 2.60%. Baker Hughes's dividend payout ratio is 31.40%.

Analyst Ratings Changes

Several equities analysts have issued reports on BKR shares. Barclays decreased their price objective on shares of Baker Hughes from $54.00 to $48.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Royal Bank of Canada reduced their price objective on Baker Hughes from $50.00 to $46.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. TD Cowen decreased their price target on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Stifel Nicolaus set a $50.00 target price on shares of Baker Hughes and gave the stock a "buy" rating in a research report on Thursday, April 24th. Finally, TD Securities dropped their price objective on Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, Baker Hughes has an average rating of "Moderate Buy" and a consensus price target of $49.11.

About Baker Hughes

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.