Baker Hughes (NASDAQ:BKR) Position Trimmed by Citizens Business Bank

Citizens Business Bank trimmed its stake in Baker Hughes (NASDAQ:BKR) by 3.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 92,173 shares of the company’s stock after selling 3,112 shares during the quarter. Citizens Business Bank’s holdings in Baker Hughes were worth $3,150,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in BKR. Bruce G. Allen Investments LLC acquired a new position in Baker Hughes in the fourth quarter worth approximately $33,000. OFI Invest Asset Management acquired a new stake in Baker Hughes in the 3rd quarter worth $36,000. Rational Advisors LLC grew its position in Baker Hughes by 44.0% during the third quarter. Rational Advisors LLC now owns 1,250 shares of the company’s stock worth $44,000 after buying an additional 382 shares in the last quarter. Clearstead Advisors LLC increased its position in shares of Baker Hughes by 38.2% during the third quarter. Clearstead Advisors LLC now owns 1,523 shares of the company’s stock valued at $54,000 after purchasing an additional 421 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Baker Hughes in the third quarter valued at $76,000. 92.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. TD Cowen increased their price target on shares of Baker Hughes from $46.00 to $49.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Benchmark reissued a “buy” rating and issued a $40.00 target price on shares of Baker Hughes in a report on Wednesday, April 24th. UBS Group boosted their price target on Baker Hughes from $35.00 to $36.00 in a research note on Tuesday, April 23rd. Susquehanna reiterated a “positive” rating and set a $40.00 price objective on shares of Baker Hughes in a research note on Monday, April 8th. Finally, The Goldman Sachs Group lifted their price objective on Baker Hughes from $36.00 to $38.00 in a report on Tuesday, April 23rd. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $40.94.

Insiders Place Their Bets

In related news, SVP James E. Apostolides sold 10,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total value of $294,400.00. Following the sale, the senior vice president now directly owns 14,451 shares of the company’s stock, valued at approximately $425,437.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP James E. Apostolides sold 5,000 shares of Baker Hughes stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $33.88, for a total value of $169,400.00. Following the sale, the senior vice president now directly owns 14,998 shares in the company, valued at $508,132.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP James E. Apostolides sold 10,000 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total transaction of $294,400.00. Following the transaction, the senior vice president now owns 14,451 shares of the company’s stock, valued at approximately $425,437.44. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Baker Hughes Trading Down 1.8 %

NASDAQ BKR traded down $0.60 on Tuesday, reaching $32.62. The company had a trading volume of 9,582,593 shares, compared to its average volume of 8,731,166. Baker Hughes has a 52 week low of $26.81 and a 52 week high of $37.58. The stock’s 50 day moving average is $32.13 and its 200-day moving average is $32.50. The company has a quick ratio of 0.84, a current ratio of 1.25 and a debt-to-equity ratio of 0.38. The stock has a market cap of $32.65 billion, a price-to-earnings ratio of 18.56, a PEG ratio of 0.62 and a beta of 1.42.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. The firm had revenue of $6.42 billion during the quarter, compared to analysts’ expectations of $6.37 billion. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.28 earnings per share. Equities analysts predict that Baker Hughes will post 2.08 earnings per share for the current year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 6th will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, May 3rd. This represents a $0.84 dividend on an annualized basis and a yield of 2.58%. Baker Hughes’s payout ratio is 46.93%.

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.