Castleark Management LLC Takes $1.56 Million Position in Baker Hughes (NASDAQ:BKR)

Castleark Management LLC purchased a new stake in shares of Baker Hughes (NASDAQ:BKR - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 37,930 shares of the company's stock, valued at approximately $1,556,000.

Several other large investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors lifted its holdings in Baker Hughes by 0.6% in the fourth quarter. Capital Research Global Investors now owns 27,687,590 shares of the company's stock worth $1,135,744,000 after acquiring an additional 177,232 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Baker Hughes by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company's stock worth $1,004,212,000 after purchasing an additional 465,832 shares during the period. Norges Bank bought a new stake in shares of Baker Hughes in the 4th quarter worth approximately $829,092,000. FMR LLC boosted its position in Baker Hughes by 12.5% during the 4th quarter. FMR LLC now owns 15,702,057 shares of the company's stock valued at $644,098,000 after purchasing an additional 1,744,225 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Baker Hughes by 8.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 11,552,478 shares of the company's stock worth $473,880,000 after buying an additional 874,297 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors.

Baker Hughes Stock Up 0.3%

NASDAQ BKR traded up $0.12 on Tuesday, reaching $36.86. The company had a trading volume of 1,800,113 shares, compared to its average volume of 7,063,638. The company's fifty day moving average is $38.56 and its 200-day moving average is $41.93. The firm has a market capitalization of $36.51 billion, a price-to-earnings ratio of 12.38, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. 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 (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.03. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. The company had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.54 billion. On average, research analysts forecast that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date was Tuesday, May 6th. Baker Hughes's dividend payout ratio (DPR) is presently 31.40%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on BKR shares. TD Securities reduced their price target on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Royal Bank of Canada reduced their target price on shares of Baker Hughes from $50.00 to $46.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. 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. Citigroup lowered their target price on Baker Hughes from $54.00 to $53.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Finally, Susquehanna decreased their price target on 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 research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average 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.