Baker Hughes (NASDAQ:BKR) Holdings Lowered by Van ECK Associates Corp

Van ECK Associates Corp trimmed its stake in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 3.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,935,252 shares of the company's stock after selling 278,913 shares during the period. Van ECK Associates Corp owned about 0.69% of Baker Hughes worth $237,047,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Bruce G. Allen Investments LLC acquired a new position in shares of Baker Hughes during the 4th quarter valued at about $33,000. OFI Invest Asset Management acquired a new stake in shares of Baker Hughes in the 3rd quarter valued at $36,000. Rational Advisors LLC increased its stake in shares of Baker Hughes by 44.0% in the 3rd quarter. Rational Advisors LLC now owns 1,250 shares of the company's stock valued at $44,000 after buying an additional 382 shares during the period. Clearstead Advisors LLC boosted its position in shares of Baker Hughes by 38.2% in the 3rd quarter. Clearstead Advisors LLC now owns 1,523 shares of the company's stock worth $54,000 after purchasing an additional 421 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Baker Hughes in the 3rd quarter worth $76,000. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Trading Up 1.2 %

Shares of NASDAQ:BKR traded up $0.38 during trading on Monday, hitting $33.22. The company had a trading volume of 5,156,894 shares, compared to its average volume of 8,720,806. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.25 and a quick ratio of 0.84. The company has a fifty day simple moving average of $32.13 and a two-hundred day simple moving average of $32.50. Baker Hughes has a one year low of $26.81 and a one year high of $37.58. The stock has a market cap of $33.25 billion, a price-to-earnings ratio of 18.56, a price-to-earnings-growth ratio of 0.62 and a beta of 1.42.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.03. Baker Hughes had a return on equity of 11.42% and a net margin of 6.95%. The business had revenue of $6.42 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same period last year, the business posted $0.28 EPS. The business's revenue was up 12.3% compared to the same quarter last year. As a group, equities analysts forecast that Baker Hughes will post 2.08 earnings per share for the current year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.53%. Baker Hughes's payout ratio is currently 46.93%.

Insider Activity at Baker Hughes

In related news, SVP James E. Apostolides sold 10,000 shares of Baker Hughes stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total value of $294,400.00. Following the completion of the transaction, the senior vice president now owns 14,451 shares in the company, valued at approximately $425,437.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, SVP James E. Apostolides sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total transaction of $294,400.00. Following the transaction, the senior vice president now directly owns 14,451 shares in the company, valued at approximately $425,437.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP James E. Apostolides sold 5,000 shares of the company's stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $33.88, for a total value of $169,400.00. Following the completion of the transaction, the senior vice president now owns 14,998 shares in the company, valued at $508,132.24. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Wolfe Research downgraded Baker Hughes from an "outperform" rating to a "peer perform" rating in a research report on Monday, January 29th. Citigroup cut their price target on Baker Hughes from $42.00 to $41.00 and set a "buy" rating for the company in a research note on Friday, January 26th. TD Cowen raised their target price on Baker Hughes from $46.00 to $49.00 and gave the company an "outperform" rating in a report on Thursday, January 25th. The Goldman Sachs Group raised their target price on Baker Hughes from $36.00 to $38.00 in a report on Tuesday, April 23rd. Finally, Barclays cut their price objective on Baker Hughes from $43.00 to $42.00 and set an "overweight" rating on the stock in a report on Friday, January 26th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $40.94.

About Baker Hughes

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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