Baker Hughes (NASDAQ:BKR) Stake Cut by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD decreased its holdings in shares of Baker Hughes (NASDAQ:BKR) by 12.7% in the 4th quarter, Holdings Channel reports. The firm owned 12,595,739 shares of the company’s stock after selling 1,832,844 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Baker Hughes were worth $516,679,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Morse Asset Management Inc bought a new stake in shares of Baker Hughes during the 3rd quarter valued at about $1,263,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Baker Hughes during the 3rd quarter worth approximately $139,000. Birmingham Capital Management Co. Inc. AL lifted its holdings in shares of Baker Hughes by 18.5% in the 3rd quarter. Birmingham Capital Management Co. Inc. AL now owns 16,000 shares of the company’s stock worth $578,000 after purchasing an additional 2,500 shares during the last quarter. Principal Financial Group Inc. boosted its position in Baker Hughes by 4.2% during the 3rd quarter. Principal Financial Group Inc. now owns 1,177,877 shares of the company’s stock valued at $42,580,000 after purchasing an additional 47,727 shares during the period. Finally, GAMMA Investing LLC grew its stake in Baker Hughes by 41.1% during the 4th quarter. GAMMA Investing LLC now owns 10,286 shares of the company’s stock worth $422,000 after buying an additional 2,998 shares during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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 sale, the executive vice president now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.27% of the stock is currently owned by company insiders.

Baker Hughes Stock Performance

NASDAQ:BKR opened at $36.38 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 company has a 50-day moving average of $41.60 and a 200-day moving average of $42.05. Baker Hughes has a twelve month low of $30.93 and a twelve month high of $49.40. The firm has a market cap of $36.02 billion, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. The firm had revenue of $6.43 billion during the quarter, compared to analysts’ expectations of $6.54 billion. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. Analysts forecast that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend is Tuesday, May 6th. Baker Hughes’s dividend payout ratio (DPR) is presently 31.40%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on BKR shares. Stifel Nicolaus set a $50.00 target price on Baker Hughes and gave the company a “buy” rating in a research note on Thursday. Susquehanna cut their price objective on shares of Baker Hughes from $48.00 to $46.00 and set a “positive” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. upped their target price on shares of Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. TD Cowen cut their price target on Baker Hughes from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Barclays decreased their price objective on Baker Hughes from $54.00 to $48.00 and set an “overweight” rating for the company in a report on Thursday. Two research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $49.11.

Baker Hughes Company 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.