Baker Hughes (NASDAQ:BKR) Shares Sold by Everence Capital Management Inc.

Everence Capital Management Inc. trimmed its position in Baker Hughes (NASDAQ:BKR - Free Report) by 52.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 76,280 shares of the company's stock after selling 82,700 shares during the period. Everence Capital Management Inc.'s holdings in Baker Hughes were worth $3,129,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bridges Investment Management Inc. raised its holdings in Baker Hughes by 3.1% in the 3rd quarter. Bridges Investment Management Inc. now owns 9,203 shares of the company's stock worth $333,000 after acquiring an additional 273 shares during the last quarter. Graypoint LLC increased its holdings in shares of Baker Hughes by 3.0% in the 3rd quarter. Graypoint LLC now owns 10,288 shares of the company's stock worth $372,000 after purchasing an additional 301 shares in the last quarter. First Trust Direct Indexing L.P. raised its stake in shares of Baker Hughes by 1.4% in the third quarter. First Trust Direct Indexing L.P. now owns 29,841 shares of the company's stock worth $1,079,000 after purchasing an additional 398 shares during the last quarter. Hantz Financial Services Inc. raised its stake in shares of Baker Hughes by 4.6% in the third quarter. Hantz Financial Services Inc. now owns 9,027 shares of the company's stock worth $326,000 after purchasing an additional 401 shares during the last quarter. Finally, Brooklyn Investment Group lifted its holdings in shares of Baker Hughes by 7.8% during the third quarter. Brooklyn Investment Group now owns 6,756 shares of the company's stock valued at $244,000 after purchasing an additional 490 shares in the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Price Performance

BKR stock traded up $1.10 during mid-day trading on Friday, reaching $42.66. 7,474,920 shares of the company's stock were exchanged, compared to its average volume of 6,500,960. The company has a market cap of $42.21 billion, a price-to-earnings ratio of 19.13, a price-to-earnings-growth ratio of 0.72 and a beta of 1.40. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $45.17. The stock's 50 day moving average is $41.61 and its 200 day moving average is $37.52. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88.

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

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.84 annualized dividend and a dividend yield of 1.97%. Baker Hughes's dividend payout ratio is presently 37.67%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on BKR shares. Benchmark reissued a "buy" rating and issued a $42.00 target price on shares of Baker Hughes in a research report on Thursday, October 24th. Wells Fargo & Company boosted their price objective on shares of Baker Hughes from $42.00 to $49.00 and gave the company an "overweight" rating in a report on Tuesday, December 17th. Jefferies Financial Group raised their target price on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a "buy" rating in a report on Friday. Argus upgraded shares of Baker Hughes from a "hold" rating to a "buy" rating in a research note on Friday, October 25th. Finally, Citigroup raised their price target on Baker Hughes from $42.00 to $50.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $47.12.

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.