Citizens Financial Group Inc. RI acquired a new position in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 189,181 shares of the company's stock, valued at approximately $8,314,000.
Several other institutional investors and hedge funds have also made changes to their positions in BKR. Envestnet Asset Management Inc. raised its stake in Baker Hughes by 2.8% during the first quarter. Envestnet Asset Management Inc. now owns 621,468 shares of the company's stock worth $27,314,000 after purchasing an additional 17,035 shares during the period. China Universal Asset Management Co. Ltd. grew its position in Baker Hughes by 51.9% in the first quarter. China Universal Asset Management Co. Ltd. now owns 24,455 shares of the company's stock valued at $1,075,000 after acquiring an additional 8,351 shares in the last quarter. Stack Financial Management Inc purchased a new stake in shares of Baker Hughes during the first quarter valued at approximately $12,890,000. Principal Financial Group Inc. lifted its position in shares of Baker Hughes by 7.2% during the first quarter. Principal Financial Group Inc. now owns 1,239,175 shares of the company's stock worth $54,462,000 after purchasing an additional 82,706 shares in the last quarter. Finally, Johnson Investment Counsel Inc. acquired a new position in shares of Baker Hughes during the first quarter worth $360,000. 92.06% of the stock is currently owned by hedge funds and other institutional investors.
Baker Hughes Stock Performance
Shares of NASDAQ BKR opened at $43.43 on Thursday. The stock has a market capitalization of $42.82 billion, a P/E ratio of 14.19, a P/E/G ratio of 5.39 and a beta of 0.94. The firm's 50-day moving average price is $40.12 and its two-hundred day moving average price is $40.96. Baker Hughes Company has a 52-week low of $32.25 and a 52-week high of $49.40. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33.
Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.55 by $0.08. The business had revenue of $6.91 billion during the quarter, compared to analyst estimates of $6.64 billion. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%. The business's revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.57 EPS. As a group, sell-side analysts forecast that Baker Hughes Company will post 2.59 earnings per share for the current year.
Baker Hughes Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, August 5th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, August 5th. Baker Hughes's dividend payout ratio (DPR) is 30.07%.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on BKR shares. BMO Capital Markets reaffirmed an "outperform" rating and set a $53.00 price target (up previously from $46.00) on shares of Baker Hughes in a research note on Wednesday, July 30th. Susquehanna boosted their price target on Baker Hughes from $46.00 to $52.00 and gave the stock a "positive" rating in a research note on Thursday, July 24th. Piper Sandler reduced their price target on Baker Hughes from $53.00 to $50.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Evercore ISI lifted their price objective on Baker Hughes from $53.00 to $55.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Finally, Industrial Alliance Securities set a $53.00 target price on Baker Hughes in a research note on Wednesday, July 30th. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $51.47.
Check Out Our Latest Analysis on Baker Hughes
Insider Buying and Selling at Baker Hughes
In other Baker Hughes news, CEO Lorenzo Simonelli sold 526,568 shares of the business's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $44.42, for a total transaction of $23,390,150.56. Following the completion of the transaction, the chief executive officer directly owned 667,593 shares of the company's stock, valued at $29,654,481.06. The trade was a 44.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.27% of the stock is currently owned by company insiders.
Baker Hughes Company Profile
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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.
See Also
Want to see what other hedge funds are holding BKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Baker Hughes Company (NASDAQ:BKR - Free Report).
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