Assenagon Asset Management S.A. Increases Position in Baker Hughes Company (NASDAQ:BKR)

Assenagon Asset Management S.A. lifted its stake in Baker Hughes Company (NASDAQ:BKR - Free Report) by 158.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 89,122 shares of the company's stock after acquiring an additional 54,610 shares during the period. Assenagon Asset Management S.A.'s holdings in Baker Hughes were worth $3,917,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BKR. Norges Bank acquired a new stake in Baker Hughes in the fourth quarter worth about $829,092,000. Raymond James Financial Inc. acquired a new stake in shares of Baker Hughes during the fourth quarter worth $291,289,000. Neuberger Berman Group LLC increased its position 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 acquired a new position in shares of Baker Hughes in the 4th quarter valued at $128,542,000. Finally, Congress Asset Management Co. purchased a new position in Baker Hughes in the 4th quarter worth $107,155,000. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Baker Hughes Price Performance

NASDAQ:BKR traded up $0.61 during trading hours on Tuesday, reaching $39.60. 7,535,605 shares of the company were exchanged, compared to its average volume of 7,084,420. The company has a current ratio of 1.34, a quick ratio of 0.93 and a debt-to-equity ratio of 0.35. The firm has a market cap of $39.23 billion, a PE ratio of 15.91, a price-to-earnings-growth ratio of 4.14 and a beta of 0.91. Baker Hughes Company has a twelve month low of $30.93 and a twelve month high of $49.40. The stock's 50-day moving average is $37.43 and its 200-day moving average is $41.33.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings results 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. Baker Hughes had a net margin of 10.51% and a return on equity of 14.70%. The firm had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.54 billion. On average, sell-side analysts anticipate that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The company 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 dividend yield of 2.32%. The ex-dividend date of this dividend was Tuesday, May 6th. Baker Hughes's payout ratio is 31.40%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BKR. Royal Bank Of Canada dropped their price target on Baker Hughes from $50.00 to $46.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Stifel Nicolaus set a $50.00 target price on Baker Hughes and gave the company a "buy" rating in a research report on Thursday, April 24th. TD Cowen cut 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. Susquehanna decreased their price objective 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. Finally, Evercore ISI dropped their price objective on shares of Baker Hughes from $52.00 to $50.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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.