Baker Hughes (NASDAQ:BKR) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp decreased its position in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 48.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 284,377 shares of the company's stock after selling 262,208 shares during the period. Mackenzie Financial Corp's holdings in Baker Hughes were worth $11,665,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BKR. JFS Wealth Advisors LLC lifted its position in 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 in the last quarter. SBI Securities Co. Ltd. bought a new position in Baker Hughes in the 4th quarter valued at approximately $30,000. Larson Financial Group LLC lifted its position in 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 in the last quarter. Kestra Investment Management LLC bought a new position in Baker Hughes in the 4th quarter valued at approximately $45,000. Finally, OFI Invest Asset Management bought a new position in shares of Baker Hughes during the 4th quarter valued at $47,000. Hedge funds and other institutional investors own 92.06% of the company's stock.

Baker Hughes Price Performance

NASDAQ BKR traded down $0.54 during trading hours on Friday, hitting $36.82. 11,354,489 shares of the company's stock traded hands, compared to its average volume of 7,103,223. The firm's 50-day moving average is $38.12 and its 200-day moving average is $41.81. Baker Hughes has a 52-week low of $30.93 and a 52-week high of $49.40. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. The company 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 (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings results 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. The business had revenue of $6.43 billion during the quarter, compared to analysts' expectations of $6.54 billion. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. Equities analysts forecast that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently declared 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 of this dividend was Tuesday, May 6th. This represents a $0.92 annualized dividend and a yield of 2.50%. Baker Hughes's dividend payout ratio is presently 31.40%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Citigroup cut their price target on Baker Hughes from $54.00 to $53.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Barclays dropped their price target on Baker Hughes from $54.00 to $48.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Morgan Stanley dropped their price target on Baker Hughes from $55.00 to $45.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Stifel Nicolaus set a $50.00 price target on Baker Hughes and gave the stock a "buy" rating in a research report on Thursday, April 24th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Baker Hughes from $50.00 to $52.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average 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.