Cidel Asset Management Inc. lowered its stake in shares of Baker Hughes (NASDAQ:BKR – Free Report) by 9.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,601 shares of the company’s stock after selling 791 shares during the period. Cidel Asset Management Inc.’s holdings in Baker Hughes were worth $312,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Ashton Thomas Securities LLC bought a new position in shares of Baker Hughes during the 3rd quarter worth approximately $30,000. True Wealth Design LLC increased its position in shares of Baker Hughes by 2,181.6% during the third quarter. True Wealth Design LLC now owns 867 shares of the company’s stock worth $31,000 after purchasing an additional 829 shares in the last quarter. Groupama Asset Managment lifted its holdings in shares of Baker Hughes by 1,045.1% during the 3rd quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock valued at $32,000 after purchasing an additional 811,711 shares during the last quarter. Continuum Advisory LLC lifted its holdings in shares of Baker Hughes by 442.2% during the 3rd quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock valued at $35,000 after purchasing an additional 796 shares during the last quarter. Finally, Eastern Bank boosted its position in shares of Baker Hughes by 598.4% in the 4th quarter. Eastern Bank now owns 1,739 shares of the company’s stock worth $71,000 after purchasing an additional 1,490 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.
Analyst Ratings Changes
Several equities analysts recently commented on the stock. Atb Cap Markets lowered shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Argus raised shares of Baker Hughes from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Stifel Nicolaus boosted their price objective on shares of Baker Hughes from $48.00 to $54.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Benchmark reissued a “buy” rating and issued a $42.00 target price on shares of Baker Hughes in a research report on Thursday, October 24th. Finally, Citigroup lifted their price target on Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $50.18.
Insider Activity at Baker Hughes
In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the 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 completion of 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 the SEC website. 0.25% of the stock is owned by insiders.
Baker Hughes Price Performance
Shares of NASDAQ BKR opened at $46.20 on Friday. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. The stock has a market cap of $45.72 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 2.07 and a beta of 1.39. The company’s 50-day moving average price is $43.42 and its 200 day moving average price is $39.47. Baker Hughes has a 52 week low of $28.63 and a 52 week high of $49.40.
Baker Hughes (NASDAQ:BKR – Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. As a group, research analysts forecast that Baker Hughes will post 2.57 earnings per share for the current fiscal year.
Baker Hughes Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th will be issued 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 an increase from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Tuesday, February 11th. Baker Hughes’s dividend payout ratio is presently 28.19%.
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.
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