Sourcerock Group LLC Has $12.31 Million Stock Holdings in Baker Hughes (NASDAQ:BKR)

Sourcerock Group LLC cut its stake in Baker Hughes (NASDAQ:BKR - Free Report) by 40.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 300,000 shares of the company's stock after selling 200,085 shares during the period. Baker Hughes accounts for about 0.9% of Sourcerock Group LLC's investment portfolio, making the stock its 24th biggest position. Sourcerock Group LLC's holdings in Baker Hughes were worth $12,306,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of BKR. Ritholtz Wealth Management raised its stake in shares of Baker Hughes by 34.2% during the fourth quarter. Ritholtz Wealth Management now owns 34,386 shares of the company's stock worth $1,411,000 after buying an additional 8,755 shares during the last quarter. Wealthcare Advisory Partners LLC bought a new stake in shares of Baker Hughes during the fourth quarter worth approximately $267,000. Merit Financial Group LLC bought a new stake in shares of Baker Hughes during the fourth quarter worth approximately $421,000. Premier Path Wealth Partners LLC bought a new stake in shares of Baker Hughes during the fourth quarter worth approximately $242,000. Finally, HB Wealth Management LLC raised its stake in shares of Baker Hughes by 6.3% during the fourth quarter. HB Wealth Management LLC now owns 26,969 shares of the company's stock worth $1,106,000 after buying an additional 1,589 shares during the last quarter. 92.06% of the stock is owned by institutional investors.

Baker Hughes Stock Down 0.2%

BKR 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 7,073,375. Baker Hughes has a 1-year low of $30.93 and a 1-year high of $49.40. The stock's 50-day moving average is $39.00 and its two-hundred day moving average is $42.01. The stock has a market cap of $36.25 billion, a price-to-earnings ratio of 12.28, a PEG 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.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, beating analysts' consensus estimates of $0.48 by $0.03. The firm 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%. Sell-side analysts predict that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently declared 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 2.51%. The ex-dividend date of this dividend was Tuesday, May 6th. Baker Hughes's dividend payout ratio is currently 31.40%.

Analyst Upgrades and Downgrades

BKR has been the subject of a number of recent research reports. Evercore ISI dropped their price target on shares of Baker Hughes from $52.00 to $50.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Wells Fargo & Company boosted their price target on shares of Baker Hughes from $49.00 to $54.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. TD Securities dropped their price target on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Stifel Nicolaus set a $50.00 price target on shares of Baker Hughes and gave the stock a "buy" rating in a research note on Thursday, April 24th. Finally, Morgan Stanley lowered their target price on shares of Baker Hughes from $55.00 to $45.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Two equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price 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.