Baker Hughes (NASDAQ:BKR) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lessened its holdings in Baker Hughes (NASDAQ:BKR - Free Report) by 5.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 416,880 shares of the company's stock after selling 21,736 shares during the period. Public Employees Retirement System of Ohio's holdings in Baker Hughes were worth $17,100,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of BKR. Norges Bank purchased a new stake in shares of Baker Hughes in the 4th quarter valued at $829,092,000. Raymond James Financial Inc. purchased a new stake in shares of Baker Hughes in the 4th quarter valued at $291,289,000. Neuberger Berman Group LLC increased 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 worth $136,158,000 after purchasing an additional 3,193,089 shares during the period. Congress Asset Management Co. purchased a new stake in Baker Hughes during the 4th quarter worth about $107,155,000. Finally, FMR LLC increased its holdings in Baker Hughes by 12.5% during the 4th quarter. FMR LLC now owns 15,702,057 shares of the company's stock worth $644,098,000 after purchasing an additional 1,744,225 shares during the period. Hedge funds and other institutional investors own 92.06% of the company's stock.

Baker Hughes Stock Performance

NASDAQ:BKR traded up $0.68 during mid-day trading on Thursday, reaching $37.36. 5,823,625 shares of the stock were exchanged, compared to its average volume of 7,076,700. The company has a 50 day simple moving average of $38.26 and a 200-day simple moving average of $41.86. The stock has a market capitalization of $37.01 billion, a P/E ratio of 12.54, a P/E/G ratio of 2.00 and a beta of 0.96. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. Baker Hughes has a 1 year low of $30.93 and a 1 year high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.48 by $0.03. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. The company had revenue of $6.43 billion during the quarter, compared to analysts' expectations of $6.54 billion. Analysts anticipate that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th were given 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 2.46%. Baker Hughes's payout ratio is 31.40%.

Analyst Ratings Changes

BKR has been the topic of several recent research reports. Piper Sandler cut their price target on Baker Hughes from $53.00 to $50.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Susquehanna cut their price target on Baker Hughes from $48.00 to $46.00 and set a "positive" rating on the stock in a report on Thursday, April 24th. Benchmark restated a "buy" rating and set a $57.00 price target on shares of Baker Hughes in a report on Tuesday, February 11th. TD Securities dropped their price objective on Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Finally, Wells Fargo & Company increased their price objective on Baker Hughes from $49.00 to $54.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target 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.