American Century Companies Inc. Cuts Stake in Baker Hughes (NASDAQ:BKR)

American Century Companies Inc. lessened its stake in Baker Hughes (NASDAQ:BKR) by 21.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,360,260 shares of the company’s stock after selling 1,688,617 shares during the period. American Century Companies Inc. owned 0.64% of Baker Hughes worth $260,898,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Dynasty Wealth Management LLC grew its stake in shares of Baker Hughes by 2.7% during the fourth quarter. Dynasty Wealth Management LLC now owns 7,904 shares of the company’s stock worth $324,000 after acquiring an additional 207 shares during the last quarter. Larson Financial Group LLC lifted its holdings 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 acquiring an additional 216 shares during the period. Alpine Woods Capital Investors LLC raised its stake in shares of Baker Hughes by 0.7% during the 4th quarter. Alpine Woods Capital Investors LLC now owns 40,467 shares of the company’s stock worth $1,660,000 after buying an additional 267 shares during the period. Cromwell Holdings LLC raised its stake in shares of Baker Hughes by 9.3% during the 4th quarter. Cromwell Holdings LLC now owns 3,169 shares of the company’s stock worth $130,000 after buying an additional 269 shares during the period. Finally, 180 Wealth Advisors LLC raised its stake in shares of Baker Hughes by 1.3% during the 4th quarter. 180 Wealth Advisors LLC now owns 22,506 shares of the company’s stock worth $923,000 after buying an additional 295 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Trading Down 1.3 %

Shares of NASDAQ:BKR opened at $44.11 on Friday. The firm has a market capitalization of $43.67 billion, a P/E ratio of 14.80, a price-to-earnings-growth ratio of 2.00 and a beta of 1.30. The firm has a fifty day moving average of $44.97 and a two-hundred day moving average of $41.32. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. Baker Hughes has a 12-month low of $30.93 and a 12-month high of $49.40.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Thursday, January 30th. The company reported $0.70 EPS 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%. On average, equities analysts expect that Baker Hughes will post 2.59 EPS for the current fiscal 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 dividend of $0.23 per share. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend was Tuesday, February 11th. Baker Hughes’s payout ratio is 30.87%.

Analysts Set New Price Targets

Several analysts have issued reports on BKR shares. Evercore ISI upped their target price on Baker Hughes from $46.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, January 15th. Piper Sandler increased their target price on Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Susquehanna increased their price target on Baker Hughes from $53.00 to $55.00 and gave the company a “positive” rating in a research report on Monday, February 3rd. Stifel Nicolaus increased their price objective on Baker Hughes from $48.00 to $54.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Finally, Barclays increased their price objective on Baker Hughes from $51.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Two 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, Baker Hughes presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.06.

Insider Activity

In other news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 173,302 shares in the company, valued at approximately $7,758,730.54. This represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.25% of the stock is owned by company insiders.

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.