AGF Management Ltd. Reduces Stock Holdings in Baker Hughes (NASDAQ:BKR)

AGF Management Ltd. lowered its holdings in shares of Baker Hughes (NASDAQ:BKR) by 18.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 88,342 shares of the company’s stock after selling 19,468 shares during the quarter. AGF Management Ltd.’s holdings in Baker Hughes were worth $3,624,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Strategic Financial Concepts LLC purchased a new stake in Baker Hughes during the fourth quarter valued at approximately $640,000. Burney Co. increased its stake in shares of Baker Hughes by 315.0% in the 4th quarter. Burney Co. now owns 138,788 shares of the company’s stock worth $5,693,000 after purchasing an additional 105,349 shares in the last quarter. Northstar Advisory Group LLC purchased a new stake in shares of Baker Hughes in the 4th quarter worth $1,180,000. Artemis Investment Management LLP raised its holdings in Baker Hughes by 29.4% in the 4th quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company’s stock worth $43,233,000 after purchasing an additional 239,773 shares during the period. Finally, Czech National Bank lifted its position in Baker Hughes by 6.0% during the fourth quarter. Czech National Bank now owns 214,549 shares of the company’s stock valued at $8,801,000 after purchasing an additional 12,178 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Trading Up 1.5 %

Shares of BKR stock opened at $42.48 on Thursday. The stock’s 50-day moving average price is $44.87 and its 200-day moving average price is $40.95. Baker Hughes has a 12-month low of $30.93 and a 12-month high of $49.40. The stock has a market capitalization of $42.06 billion, a price-to-earnings ratio of 14.26, a price-to-earnings-growth ratio of 2.00 and a beta of 1.30. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35.

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

Baker Hughes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were issued a $0.23 dividend. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.17%. Baker Hughes’s dividend payout ratio (DPR) is presently 30.87%.

Insider Buying and Selling

In related news, EVP Maria C. Borras sold 8,000 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $44.77, for a total transaction of $358,160.00. Following the sale, the executive vice president now owns 173,302 shares in the company, valued at approximately $7,758,730.54. This represents a 4.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.25% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

BKR has been the subject of a number of analyst reports. Royal Bank of Canada upped their price target on Baker Hughes from $49.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. The Goldman Sachs Group increased their target price on shares of Baker Hughes from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Bank of America lifted their price target on shares of Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Jefferies Financial Group increased their price objective on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Finally, Barclays raised their price objective on shares of Baker Hughes from $51.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $51.06.

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.