CenterBook Partners LP Buys Shares of 18,604 Baker Hughes (NASDAQ:BKR)

CenterBook Partners LP acquired a new position in shares of Baker Hughes (NASDAQ:BKR - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 18,604 shares of the company's stock, valued at approximately $763,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new position in shares of Baker Hughes during the 4th quarter worth about $829,092,000. Raymond James Financial Inc. acquired a new stake in Baker Hughes during the fourth quarter worth about $291,289,000. Congress Asset Management Co. acquired a new stake in Baker Hughes during the fourth quarter worth about $107,155,000. FMR LLC increased its stake in Baker Hughes by 12.5% during the fourth quarter. FMR LLC now owns 15,702,057 shares of the company's stock valued at $644,098,000 after acquiring an additional 1,744,225 shares during the period. Finally, Natixis Advisors LLC raised its holdings in Baker Hughes by 217.5% in the 4th quarter. Natixis Advisors LLC now owns 1,728,450 shares of the company's stock valued at $70,901,000 after acquiring an additional 1,184,036 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

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 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 directly owns 173,302 shares of the company's stock, 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 SEC, which can be accessed through the SEC website. Corporate insiders own 0.25% of the company's stock.

Remove Ads

Baker Hughes Price Performance

Shares of Baker Hughes stock traded up $0.35 during trading on Tuesday, reaching $38.16. The company's stock had a trading volume of 5,098,331 shares, compared to its average volume of 6,875,358. The stock has a 50-day moving average price of $43.01 and a two-hundred day moving average price of $42.08. The stock has a market capitalization of $37.78 billion, a P/E ratio of 12.81, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. Baker Hughes has a one year low of $30.93 and a one year high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings data 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%. As a group, sell-side analysts anticipate that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th were issued a dividend of $0.23 per share. This is an increase from Baker Hughes's previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.92 annualized dividend and a yield of 2.41%. Baker Hughes's dividend payout ratio is currently 30.87%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BKR. Piper Sandler boosted their price objective on Baker Hughes from $53.00 to $55.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Susquehanna lowered their price target on shares of Baker Hughes from $55.00 to $48.00 and set a "positive" rating on the stock in a report on Monday. The Goldman Sachs Group raised their price objective on shares of Baker Hughes from $51.00 to $52.00 and gave the stock a "buy" rating in a report on Thursday, January 23rd. Wells Fargo & Company lifted their target price on shares of Baker Hughes from $49.00 to $54.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Finally, Barclays dropped their price target on shares of Baker Hughes from $55.00 to $54.00 and set an "overweight" rating for the company in a research report on Monday, March 31st. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, Baker Hughes presently has an average rating of "Moderate Buy" and an average price target of $50.65.

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.