Whalen Wealth Management Inc. acquired a new position in Baker Hughes Company (NASDAQ:BKR - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 12,384 shares of the company's stock, valued at approximately $544,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Baker Hughes during the fourth quarter valued at $829,092,000. Raymond James Financial Inc. purchased a new stake in shares of Baker Hughes during the 4th quarter worth about $291,289,000. Neuberger Berman Group LLC lifted its stake in Baker Hughes by 2,527.6% in the fourth quarter. Neuberger Berman Group LLC now owns 3,319,418 shares of the company's stock valued at $136,158,000 after acquiring an additional 3,193,089 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Baker Hughes in the 4th quarter valued at $128,542,000. Finally, FMR LLC lifted its position in shares of Baker Hughes by 12.5% in the fourth 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. 92.06% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on BKR. Evercore ISI reduced their price objective 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. TD Securities decreased their price target on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Royal Bank Of Canada lowered their price objective on Baker Hughes from $50.00 to $46.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Stifel Nicolaus set a $50.00 target price on shares of Baker Hughes and gave the stock a "buy" rating in a report on Thursday, April 24th. Finally, TD Cowen lowered their target price on Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Two 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.com, Baker Hughes has a consensus rating of "Moderate Buy" and an average target price of $49.11.
Check Out Our Latest Report on BKR
Baker Hughes Price Performance
Shares of BKR opened at $39.00 on Monday. The stock has a 50 day simple moving average of $37.52 and a 200 day simple moving average of $41.21. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.93 and a current ratio of 1.34. Baker Hughes Company has a 52-week low of $32.25 and a 52-week high of $49.40. The firm has a market capitalization of $38.64 billion, a PE ratio of 13.31, a P/E/G ratio of 4.15 and a beta of 0.91.
Baker Hughes (NASDAQ:BKR - Get Free Report) last announced 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. Baker Hughes had a return on equity of 14.70% and a net margin of 10.51%. The business had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.54 billion. Sell-side analysts predict that Baker Hughes Company will post 2.59 EPS for the current fiscal year.
Baker Hughes Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Tuesday, May 6th were paid a $0.23 dividend. The ex-dividend date 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 currently 31.40%.
About Baker Hughes
(
Free Report)
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.
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