Covea Finance Invests $5.80 Million in Baker Hughes Company (NASDAQ:BKR)

Covea Finance acquired a new position in Baker Hughes Company (NASDAQ:BKR - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm acquired 132,000 shares of the company's stock, valued at approximately $5,801,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BKR. SBI Securities Co. Ltd. purchased a new position in Baker Hughes in the 4th quarter worth approximately $30,000. Larson Financial Group LLC grew its holdings in Baker Hughes by 41.2% during the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company's stock valued at $30,000 after purchasing an additional 216 shares in the last quarter. Grove Bank & Trust increased its stake in Baker Hughes by 76.2% during the 1st quarter. Grove Bank & Trust now owns 740 shares of the company's stock worth $33,000 after buying an additional 320 shares during the period. Kestra Investment Management LLC acquired a new position in Baker Hughes in the 4th quarter worth $45,000. Finally, OFI Invest Asset Management purchased a new position in Baker Hughes in the 4th quarter valued at about $47,000. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Stock Performance

BKR stock traded up $0.14 during mid-day trading on Tuesday, reaching $37.97. The company had a trading volume of 6,892,144 shares, compared to its average volume of 7,104,695. Baker Hughes Company has a one year low of $32.25 and a one year high of $49.40. The stock has a market capitalization of $37.62 billion, a P/E ratio of 12.96, a P/E/G ratio of 4.15 and a beta of 0.91. The company has a quick ratio of 0.93, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. The stock's 50-day simple moving average is $37.52 and its two-hundred day simple moving average is $41.19.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings data 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. 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 the consensus estimate of $6.54 billion. Research analysts anticipate that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

The firm also recently announced 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. This represents a $0.92 annualized dividend and a yield of 2.42%. The ex-dividend date was Tuesday, May 6th. Baker Hughes's payout ratio is currently 31.40%.

Analysts Set New Price Targets

Several research firms recently commented on BKR. Susquehanna cut their price target on Baker Hughes from $48.00 to $46.00 and set a "positive" rating on the stock in a research note on Thursday, April 24th. Evercore ISI cut their target price on Baker Hughes from $52.00 to $50.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Royal Bank Of Canada decreased their price target on shares of 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 price target on shares of Baker Hughes from $54.00 to $48.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Finally, Stifel Nicolaus set a $50.00 price objective on shares of Baker Hughes and gave the stock a "buy" rating in a report on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $49.11.

About Baker Hughes

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.