Clearline Capital LP Has $5.98 Million Position in Baker Hughes (NASDAQ:BKR)

Clearline Capital LP reduced its position in Baker Hughes (NASDAQ:BKR - Free Report) by 19.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 145,800 shares of the company's stock after selling 34,200 shares during the period. Clearline Capital LP's holdings in Baker Hughes were worth $5,981,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BKR. Wilmington Savings Fund Society FSB purchased a new stake in shares of Baker Hughes during the 3rd quarter valued at approximately $139,000. Principal Financial Group Inc. raised its stake in shares of Baker Hughes by 4.2% in the 3rd quarter. Principal Financial Group Inc. now owns 1,177,877 shares of the company's stock valued at $42,580,000 after acquiring an additional 47,727 shares during the period. Nordea Investment Management AB raised its stake in shares of Baker Hughes by 4.8% in the 4th quarter. Nordea Investment Management AB now owns 1,810,915 shares of the company's stock valued at $74,592,000 after acquiring an additional 83,266 shares during the period. First Hawaiian Bank boosted its position in shares of Baker Hughes by 7.9% during the 4th quarter. First Hawaiian Bank now owns 94,163 shares of the company's stock worth $3,863,000 after purchasing an additional 6,891 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Baker Hughes by 1.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 40,525 shares of the company's stock valued at $1,662,000 after purchasing an additional 475 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company's stock.

Wall Street Analyst Weigh In

BKR has been the topic of a number of recent research reports. Wells Fargo & Company boosted their price target on shares of Baker Hughes from $49.00 to $54.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Evercore ISI reduced their target price on shares of Baker Hughes from $52.00 to $50.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. JPMorgan Chase & Co. upped their price objective on Baker Hughes from $50.00 to $52.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Royal Bank of Canada decreased their target price on Baker Hughes from $50.00 to $46.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Finally, Barclays reduced their price target on Baker Hughes from $54.00 to $48.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Two research 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, the company has a consensus rating of "Moderate Buy" and an average price target of $49.11.

Baker Hughes Stock Performance

Shares of BKR traded up $0.24 during trading hours on Friday, reaching $36.49. 8,993,628 shares of the company's stock traded hands, compared to its average volume of 7,037,092. Baker Hughes has a twelve month low of $30.93 and a twelve month high of $49.40. The business's fifty day simple moving average is $39.72 and its two-hundred day simple moving average is $42.03. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. The firm has a market capitalization of $36.15 billion, a price-to-earnings ratio of 12.24, a P/E/G ratio of 2.00 and a beta of 0.96.

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

Baker Hughes Announces Dividend

The firm also recently announced 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. This represents a $0.92 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date is Tuesday, May 6th. Baker Hughes's payout ratio is 31.40%.

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.