Encompass Capital Advisors LLC Sells 506,686 Shares of Baker Hughes (NASDAQ:BKR)

Encompass Capital Advisors LLC lowered its position in Baker Hughes (NASDAQ:BKR - Free Report) by 28.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,300,000 shares of the company's stock after selling 506,686 shares during the period. Baker Hughes accounts for approximately 2.0% of Encompass Capital Advisors LLC's portfolio, making the stock its 16th largest position. Encompass Capital Advisors LLC owned 0.13% of Baker Hughes worth $53,326,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JFS Wealth Advisors LLC lifted its position in shares of Baker Hughes by 135.9% in the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company's stock worth $27,000 after purchasing an additional 386 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Baker Hughes during the 4th quarter valued at $30,000. Larson Financial Group LLC lifted its position in shares of Baker Hughes by 41.2% during the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company's stock valued at $30,000 after acquiring an additional 216 shares during the period. Kestra Investment Management LLC acquired a new position in shares of Baker Hughes during the 4th quarter valued at $45,000. Finally, OFI Invest Asset Management acquired a new position in shares of Baker Hughes during the 4th quarter valued at $47,000. Institutional investors and hedge funds own 92.06% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on BKR shares. Royal Bank of Canada dropped their target price on shares of Baker Hughes from $50.00 to $46.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. The Goldman Sachs Group boosted their target price on shares of Baker Hughes from $51.00 to $52.00 and gave the company a "buy" rating in a research report on Thursday, January 23rd. Evercore ISI dropped their target price on shares of Baker Hughes from $52.00 to $50.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. TD Securities lowered their price objective on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Finally, Benchmark restated a "buy" rating and set a $57.00 price objective on shares of Baker Hughes in a report on Tuesday, February 11th. Two equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $49.11.

Baker Hughes Stock Up 0.7%

Shares of NASDAQ BKR traded up $0.24 during trading on Friday, hitting $36.49. The stock had a trading volume of 8,993,628 shares, compared to its average volume of 7,037,092. Baker Hughes has a 12 month low of $30.93 and a 12 month 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 company has a market capitalization of $36.15 billion, a PE ratio of 12.24, a PEG ratio of 2.00 and a beta of 0.96. The firm has a fifty day moving average of $39.72 and a two-hundred day moving average of $42.07.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $6.54 billion. As a group, equities research analysts forecast that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Tuesday, May 6th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, May 6th. This represents a $0.92 annualized dividend and a yield of 2.52%. Baker Hughes's payout ratio is currently 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.