33,719 Shares in Baker Hughes (NASDAQ:BKR) Purchased by Connable Office Inc.

Connable Office Inc. acquired a new position in shares of Baker Hughes (NASDAQ:BKR) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 33,719 shares of the company’s stock, valued at approximately $1,383,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BKR. Hotchkis & Wiley Capital Management LLC increased its position in shares of Baker Hughes by 34.7% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock valued at $394,775,000 after acquiring an additional 2,811,940 shares during the last quarter. Congress Asset Management Co. acquired a new stake in shares of Baker Hughes during the fourth quarter valued at about $107,155,000. Yaupon Capital Management LP acquired a new stake in shares of Baker Hughes during the third quarter valued at about $47,296,000. Eagle Asset Management Inc. increased its position in shares of Baker Hughes by 18.6% during the third quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company’s stock valued at $198,326,000 after acquiring an additional 860,219 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Baker Hughes by 436.0% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,004,647 shares of the company’s stock valued at $36,318,000 after acquiring an additional 817,227 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BKR. Jefferies Financial Group lifted their price target on shares of Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Stifel Nicolaus lifted their price target 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. Bank of America raised their price objective on shares of Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. raised their price objective on shares of Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Evercore ISI raised their price objective on shares of Baker Hughes from $46.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday, January 15th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $51.06.

Insider Transactions at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of the business’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 transaction of $358,160.00. Following the completion of the sale, the executive vice president now owns 173,302 shares in the company, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.25% of the company’s stock.

Baker Hughes Stock Up 2.3 %

Shares of Baker Hughes stock opened at $44.59 on Friday. Baker Hughes has a 52-week low of $29.30 and a 52-week high of $49.40. The company has a 50 day moving average of $44.62 and a 200 day moving average of $40.49. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $44.15 billion, a P/E ratio of 14.96, a P/E/G ratio of 2.00 and a beta of 1.39.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, topping 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%. As a group, research analysts forecast that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.06%. The ex-dividend date was Tuesday, February 11th. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s payout ratio is currently 30.87%.

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.