BI Asset Management Fondsmaeglerselskab A S Cuts Stake in Baker Hughes (NASDAQ:BKR)

BI Asset Management Fondsmaeglerselskab A S reduced its holdings in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 73.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 111,982 shares of the company's stock after selling 307,837 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Baker Hughes were worth $4,594,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. JFS Wealth Advisors LLC raised its holdings in Baker Hughes by 135.9% during the fourth quarter. JFS Wealth Advisors LLC now owns 670 shares of the company's stock worth $27,000 after purchasing an additional 386 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Baker Hughes in the fourth quarter valued at $30,000. Larson Financial Group LLC increased its position in shares of Baker Hughes by 41.2% during the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company's stock worth $30,000 after purchasing an additional 216 shares in the last quarter. Kestra Investment Management LLC purchased a new position in Baker Hughes during the 4th quarter worth approximately $45,000. Finally, OFI Invest Asset Management purchased a new stake in Baker Hughes in the 4th quarter valued at $47,000. Hedge funds and other institutional investors own 92.06% of the company's stock.

Baker Hughes Trading Up 0.2 %

Shares of NASDAQ:BKR traded up $0.07 during trading on Friday, reaching $36.45. The stock had a trading volume of 7,102,559 shares, compared to its average volume of 6,913,047. Baker Hughes has a fifty-two week low of $30.93 and a fifty-two week high of $49.40. The business has a fifty day moving average price of $41.60 and a 200-day moving average price of $42.05. The stock has a market cap of $36.09 billion, a P/E ratio of 12.23, a PEG 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 announced its quarterly earnings data on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, beating analysts' consensus estimates of $0.48 by $0.03. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. The business had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.54 billion. As a group, analysts anticipate that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Tuesday, May 6th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend is Tuesday, May 6th. Baker Hughes's dividend payout ratio (DPR) is 31.40%.

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 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.27% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BKR. TD Securities decreased their target price on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research note on Thursday. Stifel Nicolaus set a $50.00 price objective on shares of Baker Hughes and gave the company a "buy" rating in a research report on Thursday. JPMorgan Chase & Co. raised their target price on shares of Baker Hughes from $50.00 to $52.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Jefferies Financial Group increased their target price on Baker Hughes from $48.00 to $50.00 and gave the stock a "buy" rating in a research note on Friday, January 3rd. Finally, TD Cowen cut their price objective on Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research report on Thursday. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, Baker Hughes currently has an average rating of "Moderate Buy" and an average price target of $49.11.

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.