Lazard Asset Management LLC Reduces Holdings in Baker Hughes (NASDAQ:BKR)

Lazard Asset Management LLC cut its holdings in Baker Hughes (NASDAQ:BKR - Free Report) by 53.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 33,676 shares of the company's stock after selling 38,761 shares during the quarter. Lazard Asset Management LLC's holdings in Baker Hughes were worth $1,381,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. JFS Wealth Advisors LLC grew its holdings in shares of Baker Hughes by 135.9% during the fourth quarter. JFS Wealth Advisors LLC now owns 670 shares of the company's stock valued at $27,000 after buying an additional 386 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in Baker Hughes during the 4th quarter worth about $30,000. Larson Financial Group LLC grew its stake 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 during the last quarter. Kestra Investment Management LLC acquired a new position in shares of Baker Hughes in the fourth quarter valued at about $45,000. Finally, OFI Invest Asset Management acquired a new position in shares of Baker Hughes in the fourth quarter valued at about $47,000. Institutional investors and hedge funds own 92.06% of the company's stock.

Baker Hughes Price Performance

Shares of BKR stock traded down $0.06 during trading hours on Thursday, hitting $36.59. 9,174,837 shares of the company's stock were exchanged, compared to its average volume of 7,063,990. Baker Hughes has a fifty-two week low of $30.93 and a fifty-two week high of $49.40. The firm has a market cap of $36.25 billion, a P/E ratio of 12.28, 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. The firm has a 50 day moving average of $39.00 and a two-hundred day moving average of $42.01.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. The company had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.54 billion. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. Sell-side analysts forecast that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors 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 annualized dividend and a dividend yield of 2.51%. Baker Hughes's dividend payout ratio (DPR) is presently 31.40%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BKR. Wells Fargo & Company upped their target price on Baker Hughes from $49.00 to $54.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Evercore ISI dropped their price objective on shares of Baker Hughes from $52.00 to $50.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. JPMorgan Chase & Co. raised their target price on shares of Baker Hughes from $50.00 to $52.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Benchmark restated a "buy" rating and set a $57.00 target price on shares of Baker Hughes in a research report on Tuesday, February 11th. Finally, Barclays lowered 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. Two equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus 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.