Point72 Europe London LLP Lowers Stock Holdings in Baker Hughes (NASDAQ:BKR)

Point72 Europe London LLP trimmed its position in Baker Hughes (NASDAQ:BKR - Free Report) by 60.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,400 shares of the company's stock after selling 17,200 shares during the quarter. Point72 Europe London LLP's holdings in Baker Hughes were worth $468,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. JFS Wealth Advisors LLC boosted its position in shares of Baker Hughes by 135.9% during the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company's stock worth $27,000 after acquiring an additional 386 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Baker Hughes in the 4th quarter worth about $30,000. Larson Financial Group LLC raised its holdings in Baker Hughes by 41.2% in the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company's stock valued at $30,000 after buying an additional 216 shares during the last quarter. Kestra Investment Management LLC acquired a new stake in Baker Hughes during the 4th quarter worth approximately $45,000. Finally, OFI Invest Asset Management bought a new stake in shares of Baker Hughes in the fourth quarter worth $47,000. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on BKR shares. Royal Bank of Canada lowered their price objective on Baker Hughes from $50.00 to $46.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. TD Cowen decreased 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. Citigroup cut their target price on shares of Baker Hughes from $54.00 to $53.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Evercore ISI cut their price target on Baker Hughes from $52.00 to $50.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Finally, Piper Sandler dropped their price objective on shares of Baker Hughes from $53.00 to $50.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $49.11.

Baker Hughes Stock Performance

NASDAQ:BKR traded up $0.12 during trading on Monday, reaching $37.91. The company's stock had a trading volume of 5,295,934 shares, compared to its average volume of 7,041,174. The firm has a 50 day moving average of $39.30 and a 200-day moving average of $42.08. 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 firm has a market cap of $37.56 billion, a price-to-earnings ratio of 12.72, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96. Baker Hughes has a 12 month low of $30.93 and a 12 month high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.03. The company had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.54 billion. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. Research analysts expect that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders 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 dividend yield of 2.43%. Baker Hughes's payout ratio is 31.40%.

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.