Mackenzie Financial Corp Has $11.67 Million Stock Holdings in Baker Hughes (NASDAQ:BKR)

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

Other hedge funds also recently modified their holdings of the company. Janney Montgomery Scott LLC raised its holdings in Baker Hughes by 128.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 18,094 shares of the company's stock valued at $742,000 after acquiring an additional 10,174 shares during the period. Fifth Third Bancorp increased its holdings in shares of Baker Hughes by 3.2% in the fourth quarter. Fifth Third Bancorp now owns 42,899 shares of the company's stock worth $1,760,000 after purchasing an additional 1,321 shares during the period. KBC Group NV increased its holdings in shares of Baker Hughes by 255.8% in the fourth quarter. KBC Group NV now owns 253,279 shares of the company's stock worth $10,390,000 after purchasing an additional 182,099 shares during the period. Pacer Advisors Inc. increased its holdings in shares of Baker Hughes by 0.9% in the fourth quarter. Pacer Advisors Inc. now owns 143,614 shares of the company's stock worth $5,891,000 after purchasing an additional 1,279 shares during the period. Finally, Perigon Wealth Management LLC bought a new position in shares of Baker Hughes in the fourth quarter worth $252,000. Institutional investors own 92.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BKR. JPMorgan Chase & Co. increased their target price on Baker Hughes from $50.00 to $52.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Barclays reduced their target price on Baker Hughes from $54.00 to $48.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Citigroup reduced their target price on Baker Hughes from $54.00 to $53.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Stifel Nicolaus set a $50.00 target price on Baker Hughes and gave the company a "buy" rating in a research note on Thursday, April 24th. Finally, Benchmark reissued a "buy" rating and issued a $57.00 target price on shares of Baker Hughes in a research note on Tuesday, February 11th. Two equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $49.11.

Baker Hughes Trading Down 1.4%

NASDAQ BKR traded down $0.54 during mid-day trading on Friday, hitting $36.82. The company's stock had a trading volume of 11,354,489 shares, compared to its average volume of 7,093,692. The firm has a market capitalization of $36.48 billion, a P/E ratio of 12.36, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96. The stock's fifty day simple moving average is $37.95 and its two-hundred day simple moving average is $41.75. 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.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.03. The company had revenue of $6.43 billion for the quarter, compared to analysts' expectations of $6.54 billion. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. Research analysts expect that Baker Hughes 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 $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date was Tuesday, May 6th. Baker Hughes's dividend payout ratio (DPR) is presently 31.40%.

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.