Stephens Investment Management Group LLC Increases Position in Baker Hughes Company (NASDAQ:BKR)

Stephens Investment Management Group LLC raised its stake in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 6.4% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 425,535 shares of the company's stock after purchasing an additional 25,778 shares during the period. Stephens Investment Management Group LLC's holdings in Baker Hughes were worth $18,702,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in BKR. Norges Bank purchased a new position in shares of Baker Hughes in the 4th quarter worth approximately $829,092,000. Neuberger Berman Group LLC boosted its stake in shares of Baker Hughes by 2,527.6% in the 4th quarter. Neuberger Berman Group LLC now owns 3,319,418 shares of the company's stock worth $136,158,000 after buying an additional 3,193,089 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Baker Hughes in the 4th quarter worth approximately $128,542,000. FMR LLC boosted its stake in shares of Baker Hughes by 12.5% in the 4th quarter. FMR LLC now owns 15,702,057 shares of the company's stock worth $644,098,000 after buying an additional 1,744,225 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Baker Hughes by 18.4% in the 4th quarter. Northern Trust Corp now owns 10,000,756 shares of the company's stock worth $410,231,000 after buying an additional 1,553,536 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Stifel Nicolaus set a $50.00 target price on Baker Hughes and gave the stock a "buy" rating in a research note on Thursday, April 24th. The Goldman Sachs Group dropped their price objective on Baker Hughes from $42.00 to $41.00 and set a "buy" rating on the stock in a research note on Wednesday, July 2nd. Evercore ISI dropped their price objective on Baker Hughes from $52.00 to $50.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. TD Securities dropped their price objective on Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Finally, Susquehanna dropped their price objective on Baker Hughes from $48.00 to $46.00 and set a "positive" rating on the stock in a research note on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $48.50.

Baker Hughes Price Performance

Shares of Baker Hughes stock traded down $0.88 during trading on Tuesday, hitting $38.99. The stock had a trading volume of 5,068,356 shares, compared to its average volume of 7,186,967. The firm has a market cap of $38.63 billion, a price-to-earnings ratio of 13.31, a P/E/G ratio of 4.98 and a beta of 0.91. Baker Hughes Company has a 12 month low of $32.25 and a 12 month high of $49.40. The business's 50-day moving average is $38.12 and its 200 day moving average is $40.98. The company has a current ratio of 1.34, a quick ratio of 0.93 and a debt-to-equity ratio of 0.35.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.03. The firm had revenue of $6.43 billion for the quarter, compared to analysts' expectations of $6.54 billion. Baker Hughes had a net margin of 10.51% and a return on equity of 14.70%. As a group, sell-side analysts anticipate that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors 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 2.36%. Baker Hughes's dividend payout ratio (DPR) is presently 31.40%.

Baker Hughes 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.