Sagefield Capital LP Acquires 65,831 Shares of Baker Hughes (NASDAQ:BKR)

Sagefield Capital LP raised its position in Baker Hughes (NASDAQ:BKR - Free Report) by 18.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 415,063 shares of the company's stock after buying an additional 65,831 shares during the period. Baker Hughes accounts for about 1.9% of Sagefield Capital LP's investment portfolio, making the stock its 13th biggest position. Sagefield Capital LP's holdings in Baker Hughes were worth $17,026,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in BKR. Norges Bank bought a new position in Baker Hughes in the 4th quarter valued at $829,092,000. Raymond James Financial Inc. bought a new position in shares of Baker Hughes in the fourth quarter valued at about $291,289,000. Neuberger Berman Group LLC lifted its position in 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 worth $136,158,000 after buying an additional 3,193,089 shares in the last quarter. Congress Asset Management Co. bought a new stake in Baker Hughes during the 4th quarter worth about $107,155,000. Finally, FMR LLC increased its position in Baker Hughes by 12.5% in 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. 92.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Royal Bank of Canada decreased their price target on shares of Baker Hughes from $50.00 to $46.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Citigroup lowered their target price on Baker Hughes from $54.00 to $53.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Evercore ISI cut their price target on Baker Hughes from $52.00 to $50.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. The Goldman Sachs Group lifted their price objective on Baker Hughes from $51.00 to $52.00 and gave the stock a "buy" rating in a research report on Thursday, January 23rd. Finally, Stifel Nicolaus set a $50.00 price objective on shares of Baker Hughes and gave the company a "buy" rating in a report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, Baker Hughes has a consensus rating of "Moderate Buy" and an average target price of $49.11.

Baker Hughes Stock Performance

Shares of NASDAQ:BKR traded up $0.12 during midday trading on Thursday, reaching $36.77. 4,648,757 shares of the company traded hands, compared to its average volume of 7,047,293. The firm's fifty day moving average price is $39.00 and its two-hundred day moving average price is $42.01. The firm has a market capitalization of $36.43 billion, a price-to-earnings ratio of 12.32, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. Baker Hughes has a 12 month low of $30.93 and a 12 month high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share for the quarter, topping 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 firm had revenue of $6.43 billion for the quarter, compared to analysts' expectations of $6.54 billion. On average, equities analysts expect that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Dividend Announcement

The firm also recently disclosed 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 2.50%. Baker Hughes's dividend payout ratio (DPR) 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.