Wealthfront Advisers LLC Has $6.90 Million Position in Baker Hughes Company (NASDAQ:BKR)

Wealthfront Advisers LLC boosted its holdings in Baker Hughes Company (NASDAQ:BKR - Free Report) by 6.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 156,989 shares of the company's stock after purchasing an additional 9,046 shares during the quarter. Wealthfront Advisers LLC's holdings in Baker Hughes were worth $6,900,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank bought a new position in Baker Hughes in the fourth quarter worth approximately $829,092,000. Neuberger Berman Group LLC grew 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 in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Baker Hughes in the 4th quarter worth $128,542,000. FMR LLC boosted its stake in shares of Baker Hughes by 12.5% during the 4th quarter. FMR LLC now owns 15,702,057 shares of the company's stock worth $644,098,000 after purchasing an additional 1,744,225 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Baker Hughes by 18.4% during the 4th quarter. Northern Trust Corp now owns 10,000,756 shares of the company's stock worth $410,231,000 after purchasing an additional 1,553,536 shares during the period. Hedge funds and other institutional investors own 92.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on BKR shares. Barclays dropped their price objective 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. Morgan Stanley dropped their price objective on shares of Baker Hughes from $55.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, May 16th. TD Cowen 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 report on Thursday, April 24th. Citigroup dropped their price target on shares of Baker Hughes from $54.00 to $53.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Finally, Evercore ISI cut their target price on shares of Baker Hughes from $52.00 to $50.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $48.44.

Baker Hughes Price Performance

Shares of NASDAQ:BKR traded up $0.54 during midday trading on Friday, reaching $39.72. The company's stock had a trading volume of 12,128,180 shares, compared to its average volume of 7,226,163. Baker Hughes Company has a fifty-two week low of $32.25 and a fifty-two week high of $49.40. The company has a market capitalization of $39.35 billion, a P/E ratio of 13.56, a P/E/G ratio of 4.96 and a beta of 0.91. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.93. The business's fifty day simple moving average is $38.35 and its 200-day simple moving average is $40.93.

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

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend was Tuesday, May 6th. Baker Hughes's dividend payout ratio (DPR) is 31.40%.

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.