Palo Duro Investment Partners LP lessened its stake in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 19.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 181,751 shares of the company's stock after selling 45,120 shares during the period. Baker Hughes accounts for about 2.2% of Palo Duro Investment Partners LP's portfolio, making the stock its 8th biggest position. Palo Duro Investment Partners LP's holdings in Baker Hughes were worth $7,455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Baker Hughes during the 4th quarter valued at $829,092,000. Raymond James Financial Inc. acquired a new stake in shares of Baker Hughes during the 4th quarter valued at $291,289,000. Neuberger Berman Group LLC boosted its holdings in shares of Baker Hughes by 2,527.6% during the 4th quarter. Neuberger Berman Group LLC now owns 3,319,418 shares of the company's stock valued at $136,158,000 after acquiring an additional 3,193,089 shares in the last quarter. Congress Asset Management Co. acquired a new stake in shares of Baker Hughes during the 4th quarter valued at $107,155,000. Finally, FMR LLC boosted its holdings in shares of Baker Hughes by 12.5% during the 4th quarter. FMR LLC now owns 15,702,057 shares of the company's stock valued at $644,098,000 after acquiring an additional 1,744,225 shares in the last quarter. Institutional investors own 92.06% of the company's stock.
Analysts Set New Price Targets
Several brokerages have commented on BKR. TD Cowen cut their target price on Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Citigroup cut their target price on Baker Hughes from $54.00 to $53.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Susquehanna cut their target price on Baker Hughes from $48.00 to $46.00 and set a "positive" rating on the stock in a report on Thursday, April 24th. Piper Sandler lowered their price objective on Baker Hughes from $53.00 to $50.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Finally, Stifel Nicolaus set a $50.00 price objective on Baker Hughes and gave the stock a "buy" rating in a research report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $49.11.
Read Our Latest Research Report on Baker Hughes
Baker Hughes Stock Up 0.2%
BKR traded up $0.06 during midday trading on Friday, reaching $37.79. 6,155,847 shares of the company were exchanged, compared to its average volume of 7,043,811. 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 company's fifty day moving average price is $39.30 and its 200 day moving average price is $42.02. The company has a market cap of $37.44 billion, a price-to-earnings ratio of 12.68, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96. Baker Hughes has a one year low of $30.93 and a one year high of $49.40.
Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.03. The firm had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.54 billion. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. As a group, analysts expect that Baker Hughes will post 2.59 EPS for the current year.
Baker Hughes Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th were paid a $0.23 dividend. The ex-dividend date was Tuesday, May 6th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.43%. Baker Hughes's payout ratio is presently 31.40%.
Baker Hughes Company Profile
(
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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