Baker Hughes (NASDAQ:BKR) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its holdings in Baker Hughes (NASDAQ:BKR) by 1.4% during the 4th quarter, Holdings Channel reports. The fund owned 14,050,573 shares of the company’s stock after selling 192,500 shares during the period. Baker Hughes makes up about 0.6% of Victory Capital Management Inc.’s holdings, making the stock its 16th largest holding. Victory Capital Management Inc.’s holdings in Baker Hughes were worth $576,355,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. National Pension Service boosted its holdings in Baker Hughes by 6.4% during the third quarter. National Pension Service now owns 1,362,973 shares of the company’s stock worth $49,271,000 after buying an additional 81,625 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in Baker Hughes during the fourth quarter worth $640,000. Burney Co. boosted its holdings in Baker Hughes by 315.0% during the fourth quarter. Burney Co. now owns 138,788 shares of the company’s stock worth $5,693,000 after buying an additional 105,349 shares in the last quarter. Northstar Advisory Group LLC purchased a new stake in Baker Hughes during the fourth quarter worth $1,180,000. Finally, Artemis Investment Management LLP boosted its holdings in Baker Hughes by 29.4% during the fourth quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company’s stock worth $43,233,000 after buying an additional 239,773 shares in the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Royal Bank of Canada upped their price objective on shares of Baker Hughes from $49.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Atb Cap Markets cut shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. TD Cowen reduced their target price on shares of Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Piper Sandler increased their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Stifel Nicolaus increased their target price on shares of Baker Hughes from $48.00 to $54.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Baker Hughes presently has an average rating of “Moderate Buy” and an average price target of $51.06.

Insider Activity

In related news, EVP Maria C. Borras sold 8,000 shares of the firm’s stock in a transaction that occurred on 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 $7,758,730.54. This trade represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.25% of the company’s stock.

Baker Hughes Trading Down 2.2 %

Shares of BKR stock opened at $43.60 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. The firm has a market cap of $43.17 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 2.00 and a beta of 1.39. The company has a 50-day moving average of $44.68 and a two-hundred day moving average of $40.63. Baker Hughes has a 1-year low of $29.30 and a 1-year high of $49.40.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Thursday, January 30th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. On average, analysts predict that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were paid a $0.23 dividend. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date was Tuesday, February 11th. This represents a $0.92 annualized dividend and a dividend yield of 2.11%. Baker Hughes’s dividend payout ratio (DPR) is presently 30.87%.

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.