Baker Hughes (NASDAQ:BKR) Shares Sold by Dodge & Cox

Dodge & Cox lowered its stake in Baker Hughes (NASDAQ:BKR) by 0.4% during the fourth quarter, HoldingsChannel reports. The firm owned 45,658,130 shares of the company’s stock after selling 172,108 shares during the quarter. Dodge & Cox’s holdings in Baker Hughes were worth $1,872,896,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BKR. Geode Capital Management LLC increased its stake in shares of Baker Hughes by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company’s stock worth $1,004,212,000 after acquiring an additional 465,832 shares during the period. Norges Bank acquired a new position in shares of Baker Hughes during the 4th quarter worth $829,092,000. FMR LLC lifted its stake in Baker Hughes by 12.5% in the 4th quarter. FMR LLC now owns 15,702,057 shares of the company’s stock valued at $644,098,000 after buying an additional 1,744,225 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Baker Hughes during the fourth quarter worth $291,289,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Baker Hughes by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,086,903 shares of the company’s stock valued at $290,705,000 after acquiring an additional 135,200 shares during the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $44.77, for a total transaction of $358,160.00. Following the completion of the transaction, the executive vice president now directly owns 173,302 shares in the company, valued at $7,758,730.54. This represents a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is currently owned by company insiders.

Baker Hughes Price Performance

Shares of BKR opened at $37.81 on Tuesday. The firm has a market capitalization of $37.44 billion, a price-to-earnings ratio of 12.69, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. Baker Hughes has a one year low of $30.93 and a one year high of $49.40. The stock’s fifty day moving average is $43.01 and its 200-day moving average is $42.08.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. Equities analysts anticipate that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend was Tuesday, February 11th. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s dividend payout ratio (DPR) is 30.87%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on BKR shares. The Goldman Sachs Group boosted their price objective on shares of Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Piper Sandler lifted their price objective on Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Evercore ISI raised their price target on shares of Baker Hughes from $46.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, January 15th. Stifel Nicolaus raised their target price on shares of Baker Hughes from $48.00 to $54.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Finally, Citigroup decreased their target price on shares of Baker Hughes from $54.00 to $53.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, Baker Hughes currently has a consensus rating of “Moderate Buy” and an average target price of $50.76.

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.