Victory Capital Management Inc. cut its holdings in Baker Hughes Company (NASDAQ:BKR - Free Report) by 20.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,165,010 shares of the company's stock after selling 2,885,563 shares during the quarter. Baker Hughes makes up 0.5% of Victory Capital Management Inc.'s holdings, making the stock its 23rd biggest holding. Victory Capital Management Inc. owned approximately 1.13% of Baker Hughes worth $490,702,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of BKR. Tectonic Advisors LLC increased its holdings in shares of Baker Hughes by 7.9% during the first quarter. Tectonic Advisors LLC now owns 10,911 shares of the company's stock worth $480,000 after buying an additional 802 shares in the last quarter. Stack Financial Management Inc acquired a new position in Baker Hughes in the 1st quarter worth about $12,890,000. Larson Financial Group LLC raised its position in Baker Hughes by 659.3% in the first quarter. Larson Financial Group LLC now owns 5,619 shares of the company's stock valued at $247,000 after purchasing an additional 4,879 shares during the last quarter. Wealthfront Advisers LLC boosted its stake in shares of Baker Hughes by 6.1% during the first quarter. Wealthfront Advisers LLC now owns 156,989 shares of the company's stock valued at $6,900,000 after purchasing an additional 9,046 shares in the last quarter. Finally, Dakota Wealth Management acquired a new position in shares of Baker Hughes in the first quarter valued at approximately $4,551,000. Institutional investors own 92.06% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on the stock. Citigroup decreased their price target on shares of Baker Hughes from $54.00 to $53.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Royal Bank Of Canada lowered their target price on Baker Hughes from $50.00 to $46.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Barclays cut their target price on Baker Hughes from $54.00 to $48.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. TD Cowen lowered their price objective 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. Finally, Morgan Stanley cut their price objective on Baker Hughes from $55.00 to $45.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Two investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $48.44.
Get Our Latest Stock Report on BKR
Baker Hughes Stock Up 1.6%
Shares of Baker Hughes stock traded up $0.64 during trading on Thursday, reaching $39.32. 3,211,176 shares of the company traded hands, compared to its average volume of 7,163,173. The firm has a market capitalization of $38.95 billion, a PE ratio of 13.42, a P/E/G ratio of 4.87 and a beta of 0.91. Baker Hughes Company has a 1-year low of $32.25 and a 1-year high of $49.40. The company has a 50 day moving average price of $38.22 and a 200-day moving average price of $40.95. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.93.
Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.03. The firm had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.54 billion. Baker Hughes had a net margin of 10.51% and a return on equity of 14.70%. As a group, equities research analysts expect that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.
Baker Hughes Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th were paid a dividend of $0.23 per share. The ex-dividend date was Tuesday, May 6th. This represents a $0.92 dividend on an annualized basis and a yield of 2.34%. Baker Hughes's dividend payout ratio (DPR) is presently 31.40%.
Baker Hughes Company Profile
(
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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