Everence Capital Management Inc. Cuts Stock Holdings in Baker Hughes (NASDAQ:BKR)

Everence Capital Management Inc. cut its position in shares of Baker Hughes (NASDAQ:BKR) by 52.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 76,280 shares of the company’s stock after selling 82,700 shares during the quarter. Everence Capital Management Inc.’s holdings in Baker Hughes were worth $3,129,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in Baker Hughes by 0.5% during the third quarter. Geode Capital Management LLC now owns 24,078,093 shares of the company’s stock valued at $867,514,000 after purchasing an additional 123,172 shares during the period. Hotchkis & Wiley Capital Management LLC grew its stake in shares of Baker Hughes by 34.7% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock worth $394,775,000 after acquiring an additional 2,811,940 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Baker Hughes by 7.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock worth $348,074,000 after acquiring an additional 680,621 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Baker Hughes by 1.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,633,006 shares of the company’s stock valued at $348,233,000 after acquiring an additional 145,537 shares during the period. Finally, Legal & General Group Plc raised its stake in Baker Hughes by 8.6% in the 2nd quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock valued at $306,801,000 after acquiring an additional 692,859 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Price Performance

Shares of NASDAQ BKR traded up $0.69 during mid-day trading on Friday, reaching $42.25. The company’s stock had a trading volume of 1,636,449 shares, compared to its average volume of 3,475,286. The stock has a fifty day moving average of $41.61 and a two-hundred day moving average of $37.52. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $45.17. The firm has a market capitalization of $41.81 billion, a PE ratio of 18.95, a P/E/G ratio of 0.72 and a beta of 1.40.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. The business had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.21 billion. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.42 earnings per share. As a group, sell-side analysts anticipate that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.99%. The ex-dividend date was Monday, November 4th. Baker Hughes’s dividend payout ratio is 37.67%.

Analysts Set New Price Targets

A number of brokerages recently commented on BKR. Susquehanna upped their price target on shares of Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a research note on Thursday, October 24th. Benchmark reiterated a “buy” rating and set a $42.00 price objective on shares of Baker Hughes in a research note on Thursday, October 24th. Piper Sandler started coverage on Baker Hughes in a research note on Thursday, December 19th. They issued an “overweight” rating and a $53.00 target price for the company. Wells Fargo & Company increased their price target on shares of Baker Hughes from $42.00 to $49.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, Atb Cap Markets lowered shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $47.00.

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.