Guinness Asset Management LTD Reduces Stake in Baker Hughes (NASDAQ:BKR)

Guinness Asset Management LTD lowered its position in Baker Hughes (NASDAQ:BKR - Free Report) by 13.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 204,428 shares of the company's stock after selling 30,826 shares during the period. Guinness Asset Management LTD's holdings in Baker Hughes were worth $8,378,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of BKR. Ashton Thomas Securities LLC acquired a new stake in shares of Baker Hughes in the third quarter valued at about $30,000. True Wealth Design LLC lifted its stake in Baker Hughes by 2,181.6% in the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company's stock worth $31,000 after purchasing an additional 829 shares in the last quarter. Groupama Asset Managment boosted its holdings in shares of Baker Hughes by 1,045.1% during the 3rd quarter. Groupama Asset Managment now owns 889,378 shares of the company's stock worth $32,000 after purchasing an additional 811,711 shares during the last quarter. Continuum Advisory LLC grew its position in shares of Baker Hughes by 442.2% in 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, Quarry LP grew its position in shares of Baker Hughes by 81.1% in the second quarter. Quarry LP now owns 1,594 shares of the company's stock valued at $56,000 after purchasing an additional 714 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company's stock.

Analysts Set New Price Targets

BKR has been the topic of a number of analyst reports. BMO Capital Markets lifted their price objective on Baker Hughes from $43.00 to $45.00 and gave the stock an "outperform" rating in a research report on Thursday, October 10th. Piper Sandler initiated coverage on shares of Baker Hughes in a research report on Thursday, December 19th. They set an "overweight" rating and a $53.00 price target on the stock. Benchmark reissued a "buy" rating and issued a $42.00 price objective on shares of Baker Hughes in a report on Thursday, October 24th. Royal Bank of Canada lifted their target price on shares of Baker Hughes from $43.00 to $49.00 and gave the stock an "outperform" rating in a research note on Thursday, December 12th. Finally, Argus raised shares of Baker Hughes from a "hold" rating to a "buy" rating in a research note on Friday, October 25th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, Baker Hughes has an average rating of "Moderate Buy" and a consensus price target of $47.53.

Baker Hughes Stock Up 0.5 %

Shares of NASDAQ BKR traded up $0.21 during midday trading on Monday, hitting $46.54. The company's stock had a trading volume of 8,479,344 shares, compared to its average volume of 4,849,551. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $47.47. The business's fifty day simple moving average is $42.74 and its two-hundred day simple moving average is $38.38. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. The firm has a market capitalization of $46.05 billion, a price-to-earnings ratio of 20.87, a price-to-earnings-growth ratio of 0.79 and a beta of 1.39.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings data 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. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The business had revenue of $6.91 billion during the quarter, compared to analysts' expectations of $7.21 billion. During the same quarter last year, the business posted $0.42 EPS. The business's quarterly revenue was up 4.0% compared to the same quarter last year. On average, equities analysts predict that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes's dividend payout ratio is presently 37.67%.

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.