Tocqueville Asset Management L.P. Buys 5,975 Shares of Baker Hughes (NASDAQ:BKR)

Tocqueville Asset Management L.P. grew its stake in shares of Baker Hughes (NASDAQ:BKR) by 7.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 87,393 shares of the company’s stock after acquiring an additional 5,975 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Baker Hughes were worth $3,585,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Parallel Advisors LLC grew its position in Baker Hughes by 19.6% during the 4th quarter. Parallel Advisors LLC now owns 10,604 shares of the company’s stock valued at $435,000 after purchasing an additional 1,735 shares during the last quarter. Cibc World Markets Corp grew its holdings in shares of Baker Hughes by 13.7% during the fourth quarter. Cibc World Markets Corp now owns 178,242 shares of the company’s stock valued at $7,311,000 after buying an additional 21,415 shares during the last quarter. Sovereign Investment Advisors LLC bought a new stake in shares of Baker Hughes during the fourth quarter valued at approximately $314,000. Corient Private Wealth LLC raised its holdings in Baker Hughes by 2.5% in the 4th quarter. Corient Private Wealth LLC now owns 199,957 shares of the company’s stock worth $8,202,000 after acquiring an additional 4,969 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its position in Baker Hughes by 308.7% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 33,861 shares of the company’s stock valued at $1,389,000 after acquiring an additional 25,575 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Down 0.4 %

BKR stock opened at $43.70 on Wednesday. The business’s 50-day moving average price is $44.90 and its 200-day moving average price is $41.21. The stock has a market cap of $43.27 billion, a P/E ratio of 14.66, a PEG ratio of 2.00 and a beta of 1.30. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. Baker Hughes has a twelve month low of $30.93 and a twelve month high of $49.40.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share 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, equities research analysts forecast that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were issued a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.92 annualized dividend and a yield of 2.11%. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s dividend payout ratio is currently 30.87%.

Insiders Place Their Bets

In other news, EVP Maria C. Borras sold 8,000 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the transaction, the executive vice president now directly owns 173,302 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this hyperlink. 0.25% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

BKR has been the subject of several recent analyst reports. Wells Fargo & Company boosted their price target on Baker Hughes from $49.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Benchmark reiterated a “buy” rating and issued a $57.00 price objective on shares of Baker Hughes in a report on Tuesday, February 11th. Piper Sandler upped their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. The Goldman Sachs Group lifted their price target on shares of Baker Hughes from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Finally, Bank of America increased their price objective on shares of Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.06.

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.