Rafferty Asset Management LLC Trims Position in Baker Hughes (NASDAQ:BKR)

Rafferty Asset Management LLC lowered its stake in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 546,988 shares of the company's stock after selling 15,330 shares during the quarter. Rafferty Asset Management LLC owned about 0.06% of Baker Hughes worth $22,437,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BKR. JFS Wealth Advisors LLC grew its holdings in shares of Baker Hughes by 135.9% during the fourth quarter. JFS Wealth Advisors LLC now owns 670 shares of the company's stock worth $27,000 after buying an additional 386 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in Baker Hughes in the fourth quarter valued at about $30,000. Larson Financial Group LLC lifted its position in Baker Hughes by 41.2% in the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company's stock valued at $30,000 after purchasing an additional 216 shares during the period. Kestra Investment Management LLC acquired a new stake in Baker Hughes in the fourth quarter valued at about $45,000. Finally, OFI Invest Asset Management acquired a new stake in Baker Hughes in the fourth quarter valued at about $47,000. Hedge funds and other institutional investors own 92.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on BKR shares. Wells Fargo & Company raised their price objective on shares of Baker Hughes from $49.00 to $54.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Piper Sandler reduced their price objective on shares of Baker Hughes from $53.00 to $50.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Morgan Stanley reduced their price objective on shares of Baker Hughes from $55.00 to $45.00 and set an "overweight" rating for the company in a research report on Friday. JPMorgan Chase & Co. raised their price objective on shares of Baker Hughes from $50.00 to $52.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Finally, Barclays reduced their price target on shares of Baker Hughes from $54.00 to $48.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $49.11.

Baker Hughes Price Performance

BKR stock traded up $0.12 during trading on Monday, hitting $37.91. The stock had a trading volume of 5,295,934 shares, compared to its average volume of 7,041,174. The stock 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. 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 company's 50 day moving average price is $39.30 and its two-hundred day moving average price is $42.08. Baker Hughes has a 1-year low of $30.93 and a 1-year 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 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.03. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. The business had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.54 billion. On average, sell-side analysts forecast that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently declared 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. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date was Tuesday, May 6th. Baker Hughes's dividend payout ratio is presently 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.