Baker Hughes (NASDAQ:BKR) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lessened its position in Baker Hughes (NASDAQ:BKR) by 12.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,595,739 shares of the company’s stock after selling 1,832,844 shares during the period. Price T Rowe Associates Inc. MD owned about 1.27% of Baker Hughes worth $516,679,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. JFS Wealth Advisors LLC raised its holdings in Baker Hughes by 135.9% in the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock valued at $27,000 after acquiring an additional 386 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Baker Hughes in the fourth quarter valued at $30,000. Larson Financial Group LLC increased its stake in Baker Hughes by 41.2% in the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock valued at $30,000 after purchasing an additional 216 shares during the last quarter. Kestra Investment Management LLC purchased a new position in Baker Hughes during the fourth quarter worth about $45,000. Finally, OFI Invest Asset Management acquired a new stake in Baker Hughes in the 4th quarter worth about $47,000. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Performance

Baker Hughes stock opened at $36.38 on Friday. Baker Hughes has a 12-month low of $30.93 and a 12-month high of $49.40. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. The company has a market capitalization of $36.02 billion, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08. The firm’s fifty day moving average price is $41.60 and its 200 day moving average price is $42.05.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. The business had revenue of $6.43 billion for the quarter, compared to analysts’ expectations of $6.54 billion. On average, research analysts forecast that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend is Tuesday, May 6th. Baker Hughes’s payout ratio is currently 31.40%.

Wall Street Analysts Forecast Growth

BKR has been the topic of several research analyst reports. Royal Bank of Canada decreased their target price on shares of Baker Hughes from $50.00 to $46.00 and set an “outperform” rating on the stock in a research report on Thursday. Susquehanna decreased their price target on shares of Baker Hughes from $48.00 to $46.00 and set a “positive” rating on the stock in a report on Thursday. JPMorgan Chase & Co. upped their price objective on Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Wells Fargo & Company lifted their target price on Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, Stifel Nicolaus set a $50.00 price objective on Baker Hughes and gave the stock a “buy” rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, Baker Hughes presently has an average rating of “Moderate Buy” and an average price target of $49.11.

Insider Activity at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of the business’s 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 owns 173,302 shares of the company’s stock, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is currently owned by corporate insiders.

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.