Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of Baker Hughes (NASDAQ:BKR - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 318,304 shares of the company's stock, valued at approximately $13,057,000.
A number of other institutional investors have also recently made changes to their positions in BKR. JFS Wealth Advisors LLC lifted its holdings in shares of Baker Hughes by 135.9% in the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company's stock valued at $27,000 after acquiring an additional 386 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Baker Hughes in the 4th quarter valued at about $30,000. Larson Financial Group LLC lifted its holdings in shares of Baker Hughes by 41.2% in the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company's stock valued at $30,000 after acquiring an additional 216 shares during the last quarter. Kestra Investment Management LLC bought a new position in shares of Baker Hughes in the 4th quarter valued at about $45,000. Finally, OFI Invest Asset Management bought a new position in shares of Baker Hughes in the 4th quarter valued at about $47,000. Hedge funds and other institutional investors own 92.06% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on BKR shares. Stifel Nicolaus set a $50.00 price target on shares of Baker Hughes and gave the company a "buy" rating in a report on Thursday, April 24th. Wells Fargo & Company lifted their price target on shares of Baker Hughes from $49.00 to $54.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. TD Cowen cut their price objective on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Morgan Stanley cut their price objective on shares of Baker Hughes from $55.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Finally, Royal Bank of Canada cut their price target on shares of Baker Hughes from $50.00 to $46.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $49.11.
Get Our Latest Analysis on BKR
Baker Hughes Price Performance
Shares of Baker Hughes stock traded down $0.54 during trading hours on Friday, reaching $36.82. The stock had a trading volume of 11,354,489 shares, compared to its average volume of 7,093,692. The stock's 50 day moving average is $37.95 and its 200 day moving average is $41.75. The firm has a market capitalization of $36.48 billion, a PE ratio of 12.36, a PEG ratio of 2.00 and a beta of 0.96. Baker Hughes has a twelve month low of $30.93 and a twelve month high of $49.40. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35.
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, topping analysts' consensus estimates of $0.48 by $0.03. The business 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 10.70% and a return on equity of 14.58%. Equities analysts expect 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. Shareholders of record on Tuesday, May 6th were given a $0.23 dividend. The ex-dividend date was Tuesday, May 6th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.50%. Baker Hughes's dividend payout ratio (DPR) is currently 31.40%.
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.
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