Baker Hughes (NASDAQ:BKR) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc raised its holdings in Baker Hughes (NASDAQ:BKR - Free Report) by 3.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 318,401 shares of the company's stock after acquiring an additional 9,764 shares during the quarter. CIBC Asset Management Inc's holdings in Baker Hughes were worth $13,061,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of BKR. JFS Wealth Advisors LLC grew 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 in the last quarter. Ashton Thomas Securities LLC bought a new position in Baker Hughes during the 3rd quarter worth about $30,000. True Wealth Design LLC boosted its stake in shares of Baker Hughes by 2,181.6% during the third quarter. True Wealth Design LLC now owns 867 shares of the company's stock valued at $31,000 after purchasing an additional 829 shares in the last quarter. Continuum Advisory LLC boosted its stake in shares of Baker Hughes by 442.2% during the third quarter. Continuum Advisory LLC now owns 976 shares of the company's stock valued at $35,000 after purchasing an additional 796 shares in the last quarter. Finally, Eastern Bank boosted its stake in shares of Baker Hughes by 598.4% during the fourth quarter. Eastern Bank now owns 1,739 shares of the company's stock valued at $71,000 after purchasing an additional 1,490 shares in the last quarter. Institutional investors own 92.06% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on BKR. Atb Cap Markets cut Baker Hughes from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. upped their price objective on shares of Baker Hughes from $50.00 to $52.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Benchmark reiterated a "buy" rating and issued a $57.00 target price on shares of Baker Hughes in a research note on Tuesday, February 11th. Piper Sandler lifted their price objective on shares of Baker Hughes from $53.00 to $55.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Finally, Bank of America lifted their target price on Baker Hughes from $42.00 to $48.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $51.06.

Baker Hughes Price Performance

Shares of BKR stock traded down $1.29 during trading hours on Friday, hitting $45.62. 7,898,740 shares of the company's stock were exchanged, compared to its average volume of 7,528,701. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The firm has a market cap of $45.17 billion, a P/E ratio of 15.31, a P/E/G ratio of 2.06 and a beta of 1.39. The firm has a 50 day moving average of $44.21 and a two-hundred day moving average of $40.09. Baker Hughes has a fifty-two week low of $28.88 and a fifty-two week 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, topping analysts' consensus estimates of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. Sell-side analysts forecast that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.02%. This is a boost from Baker Hughes's previous quarterly dividend of $0.21. Baker Hughes's dividend payout ratio is presently 30.87%.

Insider Buying and Selling at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the sale, the executive vice president now directly owns 173,302 shares in the company, valued at $7,758,730.54. This represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.25% of the company's stock.

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.