Woodline Partners LP Invests $2.44 Million in Baker Hughes (NASDAQ:BKR)

Woodline Partners LP bought a new position in shares of Baker Hughes (NASDAQ:BKR - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 59,425 shares of the company's stock, valued at approximately $2,438,000.

Several other institutional investors and hedge funds have also bought and sold shares of BKR. Capital Research Global Investors lifted its holdings in shares of Baker Hughes by 0.6% during the 4th quarter. Capital Research Global Investors now owns 27,687,590 shares of the company's stock worth $1,135,744,000 after acquiring an additional 177,232 shares during the last quarter. Geode Capital Management LLC lifted its position in Baker Hughes by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company's stock worth $1,004,212,000 after buying an additional 465,832 shares during the last quarter. Norges Bank bought a new position in Baker Hughes during the fourth quarter valued at approximately $829,092,000. 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 valued at $644,098,000 after purchasing an additional 1,744,225 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Baker Hughes by 8.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 11,552,478 shares of the company's stock worth $473,880,000 after purchasing an additional 874,297 shares during the period. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Baker Hughes Stock Down 1.5%

Shares of NASDAQ:BKR traded down $0.55 during trading on Wednesday, reaching $36.68. 4,843,263 shares of the stock traded hands, compared to its average volume of 7,073,339. The stock has a market cap of $36.34 billion, a P/E ratio of 12.31, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. The stock has a 50-day moving average of $38.41 and a two-hundred day moving average of $41.90. Baker Hughes has a 52-week low of $30.93 and a 52-week high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly 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 14.58% and a net margin of 10.70%. The firm had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.54 billion. As a group, sell-side analysts expect that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th were paid a dividend of $0.23 per share. The ex-dividend date was Tuesday, May 6th. This represents a $0.92 dividend on an annualized basis and a yield of 2.51%. Baker Hughes's dividend payout ratio is presently 31.40%.

Wall Street Analyst Weigh In

BKR has been the topic of several recent research reports. Piper Sandler reduced their price target on Baker Hughes from $53.00 to $50.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. TD Cowen lowered their price target on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Morgan Stanley cut their price target on shares of Baker Hughes from $55.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Susquehanna lowered their price objective on shares of Baker Hughes from $48.00 to $46.00 and set a "positive" rating for the company in a research note on Thursday, April 24th. Finally, Barclays reduced their price target on Baker Hughes from $54.00 to $48.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $49.11.

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.