Citizens Business Bank Lowers Position in Baker Hughes (NASDAQ:BKR)

Citizens Business Bank lowered its holdings in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 81.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 17,119 shares of the company's stock after selling 75,994 shares during the period. Citizens Business Bank's holdings in Baker Hughes were worth $702,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Strategic Financial Concepts LLC bought a new stake in Baker Hughes in the 4th quarter worth $640,000. Burney Co. lifted its position in shares of Baker Hughes by 315.0% in 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 during the period. Geode Capital Management LLC lifted its position in shares of 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 during the period. Northstar Advisory Group LLC purchased a new stake in shares of Baker Hughes in the 4th quarter worth about $1,180,000. Finally, Artemis Investment Management LLP lifted its position 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 worth $43,233,000 after purchasing an additional 239,773 shares during the period. Institutional investors own 92.06% of the company's stock.

Baker Hughes Stock Up 3.1%

Shares of NASDAQ BKR traded up $1.13 during midday trading on Monday, hitting $37.62. The company's stock had a trading volume of 7,868,272 shares, compared to its average volume of 8,326,371. The business's fifty day simple moving average is $39.72 and its two-hundred day simple moving average is $42.07. 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 1 year low of $30.93 and a 1 year high of $49.40. The firm has a market capitalization of $37.27 billion, a price-to-earnings ratio of 12.62, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.03. The firm had revenue of $6.43 billion for the quarter, compared to analysts' expectations of $6.54 billion. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. On average, equities analysts predict that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th will be paid a $0.23 dividend. The ex-dividend date is Tuesday, May 6th. This represents a $0.92 dividend on an annualized basis and a yield of 2.45%. Baker Hughes's dividend payout ratio is presently 31.40%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Royal Bank of Canada lowered their price target 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. TD Cowen lowered 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. Piper Sandler reduced their price objective on shares of Baker Hughes from $53.00 to $50.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. The Goldman Sachs Group raised their price objective on shares of Baker Hughes from $51.00 to $52.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. Finally, TD Securities reduced their price objective on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $49.11.

Baker Hughes 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.