Bokf Na Trims Position in Baker Hughes (NASDAQ:BKR)

Bokf Na cut its holdings in shares of Baker Hughes (NASDAQ:BKR) by 35.6% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 268,535 shares of the company’s stock after selling 148,759 shares during the quarter. Bokf Na’s holdings in Baker Hughes were worth $8,980,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Louisiana State Employees Retirement System purchased a new position in shares of Baker Hughes during the 4th quarter valued at approximately $4,813,000. Twin Tree Management LP increased its holdings in shares of Baker Hughes by 183.0% during the 1st quarter. Twin Tree Management LP now owns 338,738 shares of the company’s stock valued at $11,348,000 after purchasing an additional 219,060 shares in the last quarter. Cibc World Markets Corp grew its stake in Baker Hughes by 59.4% in the 4th quarter. Cibc World Markets Corp now owns 274,046 shares of the company’s stock valued at $9,367,000 after acquiring an additional 102,174 shares during the period. Caxton Associates LP acquired a new stake in Baker Hughes in the 4th quarter valued at $13,672,000. Finally, Russell Investments Group Ltd. grew its stake in Baker Hughes by 101.4% in the 4th quarter. Russell Investments Group Ltd. now owns 2,383,918 shares of the company’s stock valued at $81,484,000 after acquiring an additional 1,200,407 shares during the period. 92.06% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Baker Hughes news, EVP Maria C. Borras sold 55,980 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $32.00, for a total transaction of $1,791,360.00. Following the sale, the executive vice president now directly owns 92,035 shares in the company, valued at $2,945,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group lifted their price target on shares of Baker Hughes from $36.00 to $38.00 in a research note on Tuesday, April 23rd. Jefferies Financial Group lifted their price target on shares of Baker Hughes from $45.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Susquehanna reissued a “positive” rating and issued a $40.00 price target on shares of Baker Hughes in a research note on Monday, April 8th. Bank of America dropped their price target on shares of Baker Hughes from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Finally, UBS Group lifted their target price on shares of Baker Hughes from $35.00 to $36.00 in a research note on Tuesday, April 23rd. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Baker Hughes has an average rating of “Moderate Buy” and an average target price of $40.92.

Baker Hughes Trading Up 5.8 %

NASDAQ:BKR traded up $2.07 on Friday, reaching $37.65. 10,250,156 shares of the company’s stock were exchanged, compared to its average volume of 5,054,799. The company has a quick ratio of 0.84, a current ratio of 1.25 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $37.57 billion, a price-to-earnings ratio of 21.03, a price-to-earnings-growth ratio of 0.65 and a beta of 1.41. The business has a fifty day moving average of $33.64 and a 200-day moving average of $32.24. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $37.78.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.08. The company had revenue of $7.10 billion for the quarter, compared to analyst estimates of $6.81 billion. Baker Hughes had a net margin of 7.37% and a return on equity of 12.49%. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.39 earnings per share. As a group, analysts expect that Baker Hughes will post 2.11 earnings per share for the current year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Tuesday, August 6th will be paid a dividend of $0.21 per share. The ex-dividend date is Tuesday, August 6th. This represents a $0.84 dividend on an annualized basis and a yield of 2.23%. Baker Hughes’s dividend payout ratio (DPR) is presently 46.93%.

Baker Hughes Profile

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.