Nicholas Investment Partners LP Cuts Stock Holdings in Baker Hughes (NASDAQ:BKR)

Nicholas Investment Partners LP decreased its position in Baker Hughes (NASDAQ:BKR - Free Report) by 64.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,041 shares of the company's stock after selling 85,836 shares during the quarter. Nicholas Investment Partners LP's holdings in Baker Hughes were worth $1,608,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Bruce G. Allen Investments LLC purchased a new position in shares of Baker Hughes in the 4th quarter worth about $33,000. Montag A & Associates Inc. boosted its holdings in shares of Baker Hughes by 100.0% in the 4th quarter. Montag A & Associates Inc. now owns 1,000 shares of the company's stock worth $34,000 after buying an additional 500 shares during the last quarter. OFI Invest Asset Management purchased a new position in shares of Baker Hughes in the 3rd quarter worth about $36,000. Rational Advisors LLC boosted its holdings 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 worth $44,000 after buying an additional 382 shares during the last quarter. Finally, Clearstead Advisors LLC boosted its holdings 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 buying an additional 421 shares during the last quarter. Institutional investors own 92.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on BKR shares. UBS Group upped their price objective on shares of Baker Hughes from $35.00 to $36.00 in a report on Tuesday, April 23rd. TD Cowen upped their price objective on shares of Baker Hughes from $46.00 to $49.00 and gave the company an "outperform" rating in a report on Thursday, January 25th. Morgan Stanley upped their price objective on shares of Baker Hughes from $40.00 to $43.00 in a report on Tuesday, April 23rd. Susquehanna reaffirmed a "positive" rating and set a $40.00 price objective on shares of Baker Hughes in a report on Monday, April 8th. Finally, Benchmark reaffirmed a "buy" rating and set a $40.00 price objective on shares of Baker Hughes in a report on Wednesday, April 24th. Three 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.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $40.94.

Insider Activity

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

Baker Hughes Trading Up 0.7 %

Shares of NASDAQ:BKR traded up $0.22 during trading on Tuesday, reaching $32.63. 3,282,621 shares of the company traded hands, compared to its average volume of 8,297,330. Baker Hughes has a 52-week low of $26.96 and a 52-week high of $37.58. The business's fifty day moving average is $32.66 and its 200-day moving average is $32.30. The firm has a market capitalization of $32.56 billion, a price-to-earnings ratio of 18.13, a P/E/G ratio of 0.56 and a beta of 1.44. The company has a current ratio of 1.25, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released 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 during the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the previous year, the company posted $0.28 EPS. The business's quarterly revenue was up 12.3% compared to the same quarter last year. As a group, analysts forecast that Baker Hughes will post 2.08 EPS for the current year.

Baker Hughes Dividend Announcement

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 issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend is Friday, May 3rd. Baker Hughes's dividend payout ratio (DPR) is currently 46.93%.

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.