26,067 Shares in Baker Hughes Company (NASDAQ:BKR) Acquired by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. purchased a new stake in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 26,067 shares of the company's stock, valued at approximately $1,146,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BKR. Norges Bank purchased a new position in Baker Hughes in the fourth quarter valued at about $829,092,000. Raymond James Financial Inc. acquired a new stake in Baker Hughes during the 4th quarter valued at $291,289,000. Neuberger Berman Group LLC grew its holdings 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 valued at $136,158,000 after purchasing an additional 3,193,089 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Baker Hughes during the 4th quarter worth $128,542,000. Finally, FMR LLC lifted its holdings in Baker Hughes by 12.5% in the 4th 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. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BKR has been the topic of several recent analyst reports. 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. Susquehanna reduced their price objective on shares of Baker Hughes from $48.00 to $46.00 and set a "positive" rating on the stock in a research note on Thursday, April 24th. Morgan Stanley decreased their price target on Baker Hughes from $55.00 to $45.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Royal Bank Of Canada lowered their price objective 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, TD Cowen decreased their target price on Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company 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 company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $49.11.

Baker Hughes Stock Performance

Shares of BKR stock traded down $0.21 during trading hours on Thursday, reaching $39.62. The stock had a trading volume of 3,602,632 shares, compared to its average volume of 7,139,041. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.93. The firm has a 50-day simple moving average of $37.57 and a 200-day simple moving average of $41.03. The firm has a market capitalization of $39.25 billion, a PE ratio of 13.52, a price-to-earnings-growth ratio of 4.12 and a beta of 0.91. Baker Hughes Company has a twelve month low of $32.25 and a twelve month 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.48 by $0.03. Baker Hughes had a return on equity of 14.70% and a net margin of 10.51%. The business had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.54 billion. As a group, equities analysts forecast that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Tuesday, May 6th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend was Tuesday, May 6th. Baker Hughes's dividend 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.