Adams Natural Resources Fund Inc. cut its position in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 2.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 418,100 shares of the company's stock after selling 10,000 shares during the period. Baker Hughes comprises 2.3% of Adams Natural Resources Fund Inc.'s portfolio, making the stock its 11th biggest position. Adams Natural Resources Fund Inc.'s holdings in Baker Hughes were worth $18,375,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in shares of Baker Hughes during the fourth quarter valued at approximately $829,092,000. Raymond James Financial Inc. bought a new stake in Baker Hughes during the 4th quarter valued at $291,289,000. Neuberger Berman Group LLC increased its holdings in shares of Baker Hughes by 2,527.6% in the 4th quarter. Neuberger Berman Group LLC now owns 3,319,418 shares of the company's stock valued at $136,158,000 after acquiring an additional 3,193,089 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Baker Hughes in the 4th quarter valued at $128,542,000. Finally, FMR LLC raised its position in shares of 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 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
BKR has been the topic of a number of recent research reports. Morgan Stanley dropped their price objective on Baker Hughes from $55.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. TD Securities lowered their price target 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. Barclays reduced their price objective on shares of Baker Hughes from $54.00 to $48.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Piper Sandler decreased their target price on shares of Baker Hughes from $53.00 to $50.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Finally, Susquehanna lowered their target price on shares of Baker Hughes from $48.00 to $46.00 and set a "positive" rating for the company in a research note on Thursday, April 24th. Two 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.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $49.11.
Read Our Latest Analysis on BKR
Baker Hughes Stock Performance
Shares of BKR stock traded up $0.74 during trading hours on Thursday, hitting $38.32. The company's stock had a trading volume of 10,366,256 shares, compared to its average volume of 7,122,330. The stock has a market cap of $37.97 billion, a PE ratio of 13.08, a price-to-earnings-growth ratio of 4.04 and a beta of 0.91. Baker Hughes Company has a 12-month low of $32.25 and a 12-month high of $49.40. The company has a 50 day moving average of $37.50 and a 200 day moving average of $41.14. The company has a current ratio of 1.34, a quick ratio of 0.93 and a debt-to-equity ratio of 0.35.
Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. The company had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.54 billion. Baker Hughes had a net margin of 10.51% and a return on equity of 14.70%. On average, sell-side analysts forecast that Baker Hughes Company will post 2.59 EPS for the current fiscal year.
Baker Hughes Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Tuesday, May 6th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.40%. The ex-dividend date was Tuesday, May 6th. Baker Hughes's dividend payout ratio is currently 31.40%.
About Baker Hughes
(
Free Report)
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.
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