Point72 Asia Singapore Pte. Ltd. Grows Stock Position in Baker Hughes (NASDAQ:BKR)

Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Baker Hughes (NASDAQ:BKR) by 189.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,913 shares of the company’s stock after acquiring an additional 20,247 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Baker Hughes were worth $1,268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. JFS Wealth Advisors LLC raised its position in Baker Hughes by 135.9% during the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock valued at $27,000 after purchasing an additional 386 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Baker Hughes during the fourth quarter valued at approximately $30,000. Larson Financial Group LLC increased its stake in shares of Baker Hughes by 41.2% during the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock valued at $30,000 after buying an additional 216 shares during the period. Kestra Investment Management LLC bought a new position in shares of Baker Hughes during the fourth quarter valued at approximately $45,000. Finally, OFI Invest Asset Management bought a new position in shares of Baker Hughes during the fourth quarter valued at approximately $47,000. 92.06% of the stock is currently owned by institutional investors.

Baker Hughes Trading Down 0.9%

Shares of NASDAQ BKR opened at $37.84 on Thursday. The company has a market cap of $37.49 billion, a PE ratio of 12.70, a P/E/G ratio of 2.00 and a beta of 0.96. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. The firm’s 50 day moving average price is $39.45 and its 200-day moving average price is $42.01. Baker Hughes has a 52-week low of $30.93 and a 52-week high of $49.40.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, beating 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 the consensus estimate of $6.54 billion. On average, equities research analysts expect that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date is Tuesday, May 6th. Baker Hughes’s dividend payout ratio (DPR) is 31.40%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. TD Securities reduced their price objective on shares of Baker Hughes from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Barclays cut their target price on shares of Baker Hughes from $54.00 to $48.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Susquehanna decreased their price target on shares of Baker Hughes from $48.00 to $46.00 and set a “positive” rating for the company in a research note on Thursday, April 24th. Wells Fargo & Company raised their price objective on shares of Baker Hughes from $49.00 to $54.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Royal Bank of Canada cut their price objective on Baker Hughes from $50.00 to $46.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Baker Hughes presently has a consensus rating of “Moderate Buy” and an average price target of $49.11.

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.