Cardano Risk Management B.V. Sells 322,030 Shares of Baker Hughes (NASDAQ:BKR)

Cardano Risk Management B.V. lessened its position in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 7.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,257,295 shares of the company's stock after selling 322,030 shares during the quarter. Baker Hughes makes up approximately 2.7% of Cardano Risk Management B.V.'s investment portfolio, making the stock its 12th largest holding. Cardano Risk Management B.V. owned approximately 0.43% of Baker Hughes worth $174,634,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. City Center Advisors LLC grew its stake in Baker Hughes by 53.3% during the fourth quarter. City Center Advisors LLC now owns 11,484 shares of the company's stock worth $471,000 after purchasing an additional 3,994 shares during the period. Czech National Bank boosted its holdings in shares of Baker Hughes by 6.0% during the 4th quarter. Czech National Bank now owns 214,549 shares of the company's stock worth $8,801,000 after buying an additional 12,178 shares in the last quarter. Graypoint LLC grew its position in shares of Baker Hughes by 4.2% during the 4th quarter. Graypoint LLC now owns 10,717 shares of the company's stock worth $440,000 after buying an additional 429 shares during the period. Harbor Capital Advisors Inc. increased its stake in shares of Baker Hughes by 2.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 22,200 shares of the company's stock valued at $911,000 after acquiring an additional 545 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Baker Hughes by 1.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 40,525 shares of the company's stock valued at $1,662,000 after acquiring an additional 475 shares during the period. Institutional investors own 92.06% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Baker Hughes from $42.00 to $49.00 and gave the company an "overweight" rating in a research note on Tuesday, December 17th. Morgan Stanley boosted their target price on Baker Hughes from $42.00 to $45.00 and gave the company an "overweight" rating in a research report on Thursday, October 3rd. Piper Sandler assumed coverage on Baker Hughes in a report on Thursday, December 19th. They issued an "overweight" rating and a $53.00 price target on the stock. Stifel Nicolaus boosted their price objective on Baker Hughes from $45.00 to $48.00 and gave the company a "buy" rating in a report on Monday, November 25th. Finally, UBS Group cut their target price on Baker Hughes from $42.00 to $40.00 and set a "neutral" rating on the stock in a report on Wednesday, September 18th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Baker Hughes has a consensus rating of "Moderate Buy" and a consensus target price of $47.18.

Baker Hughes Stock Up 3.6 %

Baker Hughes stock traded up $1.57 during midday trading on Monday, hitting $44.83. 7,480,462 shares of the stock were exchanged, compared to its average volume of 6,133,129. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $45.17. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37. The business's 50-day moving average price is $42.28 and its 200-day moving average price is $38.00. The stock has a market capitalization of $44.36 billion, a price-to-earnings ratio of 20.10, a price-to-earnings-growth ratio of 0.72 and a beta of 1.39.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.06. The company had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.21 billion. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. Baker Hughes's quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.42 earnings per share. On average, research analysts expect that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date was Monday, November 4th. Baker Hughes's payout ratio is 37.67%.

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.