CoreCommodity Management LLC Trims Stake in Baker Hughes (NASDAQ:BKR)

CoreCommodity Management LLC cut its position in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 19.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,710 shares of the company's stock after selling 9,474 shares during the quarter. CoreCommodity Management LLC's holdings in Baker Hughes were worth $1,629,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Capital Research Global Investors increased its position in Baker Hughes by 0.6% during the fourth quarter. Capital Research Global Investors now owns 27,687,590 shares of the company's stock valued at $1,135,744,000 after acquiring an additional 177,232 shares during the last quarter. Geode Capital Management LLC increased its position in Baker Hughes by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company's stock worth $1,004,212,000 after buying an additional 465,832 shares in the last quarter. Norges Bank purchased a new stake in Baker Hughes in the fourth quarter worth about $829,092,000. FMR LLC increased its position in Baker Hughes by 12.5% in the fourth quarter. FMR LLC now owns 15,702,057 shares of the company's stock worth $644,098,000 after buying an additional 1,744,225 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Baker Hughes by 8.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 11,552,478 shares of the company's stock worth $473,880,000 after buying an additional 874,297 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors.

Baker Hughes Stock Performance

BKR traded up $0.96 on Monday, reaching $37.45. 2,636,921 shares of the stock were exchanged, compared to its average volume of 7,019,897. The company's 50-day moving average price is $39.72 and its 200 day moving average price is $42.07. Baker Hughes has a fifty-two week low of $30.93 and a fifty-two week high of $49.40. 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 $37.10 billion, a PE ratio of 12.57, a PEG ratio of 2.00 and a beta of 0.96.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $0.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.48 by $0.03. The business 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, sell-side analysts forecast that Baker Hughes will post 2.59 EPS for the current fiscal 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 issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.46%. The ex-dividend date is Tuesday, May 6th. Baker Hughes's payout ratio is currently 31.40%.

Analyst Upgrades and Downgrades

BKR has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their price objective on Baker Hughes from $51.00 to $52.00 and gave the stock a "buy" rating in a research note on Thursday, January 23rd. Piper Sandler dropped their price target on Baker Hughes from $53.00 to $50.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Benchmark reissued a "buy" rating and set a $57.00 price target on shares of Baker Hughes in a research note on Tuesday, February 11th. Wells Fargo & Company increased their price target on Baker Hughes from $49.00 to $54.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Finally, Citigroup dropped their price target 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. Two investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, Baker Hughes has a consensus rating of "Moderate Buy" and a consensus price target of $49.11.

Baker Hughes Company 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.