Wells Fargo & Company MN Reduces Position in Baker Hughes (NASDAQ:BKR)

Wells Fargo & Company MN reduced its position in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 22.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,110,895 shares of the company's stock after selling 327,730 shares during the period. Wells Fargo & Company MN owned about 0.11% of Baker Hughes worth $45,569,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. JFS Wealth Advisors LLC lifted its position in shares of Baker Hughes by 135.9% during the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company's stock worth $27,000 after buying an additional 386 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in Baker Hughes during the 4th quarter worth $30,000. Larson Financial Group LLC lifted its position in Baker Hughes by 41.2% in the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company's stock valued at $30,000 after acquiring an additional 216 shares during the last quarter. Continuum Advisory LLC boosted its stake in Baker Hughes by 442.2% in the third quarter. Continuum Advisory LLC now owns 976 shares of the company's stock valued at $35,000 after acquiring an additional 796 shares in the last quarter. Finally, Kestra Investment Management LLC purchased a new position in shares of Baker Hughes during the fourth quarter worth about $45,000. Institutional investors and hedge funds own 92.06% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Benchmark reissued a "buy" rating and issued a $57.00 target price on shares of Baker Hughes in a report on Tuesday, February 11th. Barclays reduced their price objective on Baker Hughes from $55.00 to $54.00 and set an "overweight" rating for the company in a research note on Monday, March 31st. Wells Fargo & Company raised their target price on shares of Baker Hughes from $49.00 to $54.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. upped their price target on shares of Baker Hughes from $50.00 to $52.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Finally, Royal Bank of Canada raised 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. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, Baker Hughes presently has an average rating of "Moderate Buy" and a consensus target price of $50.76.

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Baker Hughes Price Performance

Shares of Baker Hughes stock traded up $0.31 during trading on Tuesday, reaching $38.12. The company's stock had a trading volume of 1,075,683 shares, compared to its average volume of 6,862,312. The business has a 50 day moving average price of $43.01 and a 200-day moving average price of $42.08. Baker Hughes has a 12-month low of $30.93 and a 12-month high of $49.40. The company has a market capitalization of $37.75 billion, a P/E ratio of 12.80, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08. 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 (NASDAQ:BKR - Get Free Report) last issued its earnings results on Thursday, January 30th. The company reported $0.70 EPS 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, sell-side analysts anticipate that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th were given a dividend of $0.23 per share. This is a positive change from Baker Hughes's previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a yield of 2.41%. The ex-dividend date was Tuesday, February 11th. Baker Hughes's dividend payout ratio is presently 30.87%.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the business's stock in a transaction on Monday, January 27th. The stock was sold at an average price of $44.77, for a total transaction of $358,160.00. Following the sale, the executive vice president now directly owns 173,302 shares in the company, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.25% of the stock is currently owned by corporate insiders.

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.