Neuberger Berman Group LLC Buys 3,193,089 Shares of Baker Hughes (NASDAQ:BKR)

Neuberger Berman Group LLC raised its holdings in Baker Hughes (NASDAQ:BKR - Free Report) by 2,527.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,319,418 shares of the company's stock after buying an additional 3,193,089 shares during the period. Neuberger Berman Group LLC owned 0.34% of Baker Hughes worth $136,158,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC bought a new stake in Baker Hughes during the fourth quarter worth about $640,000. Burney Co. increased its position in shares of Baker Hughes by 315.0% during the 4th quarter. Burney Co. now owns 138,788 shares of the company's stock worth $5,693,000 after purchasing an additional 105,349 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Baker Hughes by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company's stock worth $1,004,212,000 after purchasing an additional 465,832 shares in the last quarter. Northstar Advisory Group LLC acquired a new stake in shares of Baker Hughes in the 4th quarter valued at approximately $1,180,000. Finally, Artemis Investment Management LLP grew its stake in shares of Baker Hughes by 29.4% in the fourth quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company's stock valued at $43,233,000 after buying an additional 239,773 shares in the last quarter. 92.06% of the stock is owned by institutional investors.

Insider Activity at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of the firm's stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the sale, the executive vice president now directly owns 173,302 shares of the company's stock, valued at $7,758,730.54. This trade represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.25% of the stock is currently owned by insiders.

Remove Ads

Baker Hughes Price Performance

NASDAQ BKR traded up $0.16 during midday trading on Tuesday, hitting $37.97. The company had a trading volume of 1,669,600 shares, compared to its average volume of 6,864,742. The firm has a 50-day moving average price of $43.01 and a 200-day moving average price of $42.08. The company has a market capitalization of $37.59 billion, a PE ratio of 12.74, a P/E/G 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 twelve month low of $30.93 and a twelve month high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. As a group, analysts anticipate that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were given a dividend of $0.23 per share. This is a positive change 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 dividend yield of 2.42%. Baker Hughes's dividend payout ratio (DPR) is currently 30.87%.

Analyst Ratings Changes

A number of brokerages have commented on BKR. Stifel Nicolaus cut their price target on shares of Baker Hughes from $54.00 to $52.00 and set a "buy" rating for the company in a research note on Tuesday. Citigroup lowered their price target on Baker Hughes from $54.00 to $53.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Royal Bank of Canada raised their price objective on Baker Hughes from $49.00 to $53.00 and gave the company an "outperform" rating in a research report on Monday, February 3rd. Wells Fargo & Company boosted their target price on Baker Hughes from $49.00 to $54.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Finally, Barclays reduced their price objective 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 analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Baker Hughes 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.