Investment Management Corp of Ontario increased its position in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 8.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 97,376 shares of the company's stock after acquiring an additional 7,172 shares during the quarter. Investment Management Corp of Ontario's holdings in Baker Hughes were worth $3,994,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JFS Wealth Advisors LLC lifted its holdings in Baker Hughes by 135.9% in the fourth quarter. JFS Wealth Advisors LLC now owns 670 shares of the company's stock valued at $27,000 after buying an additional 386 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Baker Hughes in the 4th quarter worth $30,000. Larson Financial Group LLC grew its stake in shares of Baker Hughes by 41.2% during the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company's stock worth $30,000 after purchasing an additional 216 shares during the period. Kestra Investment Management LLC bought a new stake in Baker Hughes in the fourth quarter valued at about $45,000. Finally, OFI Invest Asset Management acquired a new position in Baker Hughes in the fourth quarter valued at about $47,000. 92.06% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on BKR shares. The Goldman Sachs Group upped their price target on Baker Hughes from $51.00 to $52.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. Piper Sandler cut their target price on shares of Baker Hughes from $53.00 to $50.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. JPMorgan Chase & Co. boosted their price target on shares of Baker Hughes from $50.00 to $52.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. 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. Finally, Benchmark reiterated a "buy" rating and set a $57.00 target price on shares of Baker Hughes in a report on Tuesday, February 11th. Two analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $49.11.
Get Our Latest Research Report on BKR
Baker Hughes Stock Performance
Shares of BKR traded down $0.34 during midday trading on Wednesday, reaching $37.84. The stock had a trading volume of 5,938,466 shares, compared to its average volume of 7,061,010. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. The firm has a 50 day simple moving average of $39.45 and a 200-day simple moving average of $42.01. The firm has a market cap of $37.49 billion, a PE ratio of 12.70, a P/E/G ratio of 2.00 and a beta of 0.96. Baker Hughes has a one year low of $30.93 and a one year 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 for the quarter, topping 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 anticipate that Baker Hughes will post 2.59 EPS for the current year.
Baker Hughes Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, May 6th. This represents a $0.92 dividend on an annualized basis and a yield of 2.43%. Baker Hughes's dividend payout ratio (DPR) is 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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