Cibc World Market Inc. Acquires 26,177 Shares of Baker Hughes (NASDAQ:BKR)

Cibc World Market Inc. grew its holdings in shares of Baker Hughes (NASDAQ:BKR) by 6.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 465,338 shares of the company’s stock after buying an additional 26,177 shares during the quarter. Cibc World Market Inc.’s holdings in Baker Hughes were worth $19,088,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of BKR. Hixon Zuercher LLC increased its position in shares of Baker Hughes by 6.5% in the fourth quarter. Hixon Zuercher LLC now owns 58,359 shares of the company’s stock valued at $2,394,000 after acquiring an additional 3,574 shares during the last quarter. Swedbank AB increased its position in shares of Baker Hughes by 13.6% during the 4th quarter. Swedbank AB now owns 746,125 shares of the company’s stock worth $30,606,000 after purchasing an additional 89,554 shares during the last quarter. Valicenti Advisory Services Inc. bought a new stake in shares of Baker Hughes during the 4th quarter worth approximately $3,308,000. Hantz Financial Services Inc. boosted its holdings in shares of Baker Hughes by 549.7% in the 4th quarter. Hantz Financial Services Inc. now owns 58,648 shares of the company’s stock valued at $2,406,000 after buying an additional 49,621 shares during the last quarter. Finally, Perigon Wealth Management LLC bought a new position in shares of Baker Hughes in the fourth quarter valued at $252,000. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Baker Hughes Trading Up 3.5 %

Shares of BKR stock opened at $46.18 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30. The company has a market capitalization of $45.70 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 0.83 and a beta of 1.39. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $47.60. The company has a 50-day simple moving average of $43.00 and a two-hundred day simple moving average of $39.00.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.07. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. Research analysts anticipate that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.99%. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date is Tuesday, February 11th. Baker Hughes’s payout ratio is presently 37.67%.

Analysts Set New Price Targets

Several research firms have weighed in on BKR. Atb Cap Markets cut Baker Hughes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Wells Fargo & Company lifted their price objective on shares of Baker Hughes from $42.00 to $49.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. BMO Capital Markets increased their target price on shares of Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Benchmark reiterated a “buy” rating and issued a $42.00 price target on shares of Baker Hughes in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group increased their price target on Baker Hughes from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $48.06.

Insider Buying and Selling

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $44.77, for a total value of $358,160.00. Following the sale, the executive vice president now owns 173,302 shares of the company’s stock, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.25% of the stock is owned by insiders.

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.