SIR Capital Management L.P. Has $1.47 Million Position in Baker Hughes (NASDAQ:BKR)

SIR Capital Management L.P. trimmed its holdings in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 95.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 35,731 shares of the company's stock after selling 817,865 shares during the period. SIR Capital Management L.P.'s holdings in Baker Hughes were worth $1,466,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank acquired a new position in shares of Baker Hughes during the fourth quarter worth approximately $829,092,000. Raymond James Financial Inc. acquired a new position in shares of Baker Hughes during the fourth quarter worth approximately $291,289,000. Neuberger Berman Group LLC grew its position in shares of Baker Hughes by 2,527.6% during the 4th quarter. Neuberger Berman Group LLC now owns 3,319,418 shares of the company's stock worth $136,158,000 after buying an additional 3,193,089 shares during the period. Congress Asset Management Co. acquired a new stake in shares of Baker Hughes during the 4th quarter worth approximately $107,155,000. Finally, FMR LLC grew its position in shares of Baker Hughes by 12.5% during the 4th quarter. FMR LLC now owns 15,702,057 shares of the company's stock worth $644,098,000 after buying an additional 1,744,225 shares during the period. 92.06% of the stock is owned by institutional investors.

Baker Hughes Trading Up 0.3%

NASDAQ:BKR traded up $0.12 during trading hours on Monday, hitting $37.91. 5,295,934 shares of the company were exchanged, compared to its average volume of 7,041,174. The stock has a market capitalization 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 fifty day simple moving average of $39.30 and a 200 day simple moving average of $42.08. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. 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 released its earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.48 by $0.03. The business had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.54 billion. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. Sell-side analysts expect that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was 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 currently 31.40%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on BKR shares. Evercore ISI lowered their price target on shares of Baker Hughes from $52.00 to $50.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Citigroup lowered their price target on shares of Baker Hughes from $54.00 to $53.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. JPMorgan Chase & Co. lifted their price objective on shares of Baker Hughes from $50.00 to $52.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. The Goldman Sachs Group lifted their price objective on shares of Baker Hughes from $51.00 to $52.00 and gave the stock a "buy" rating in a research note on Thursday, January 23rd. Finally, Royal Bank of Canada reduced their price objective on shares of Baker Hughes from $50.00 to $46.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $49.11.

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.