Baker Hughes (NASDAQ:BKR) Shares Acquired by Pointe Capital Management LLC

Pointe Capital Management LLC increased its position in shares of Baker Hughes (NASDAQ:BKR) by 8.0% during the fourth quarter, Holdings Channel reports. The fund owned 29,486 shares of the company’s stock after acquiring an additional 2,176 shares during the quarter. Pointe Capital Management LLC’s holdings in Baker Hughes were worth $1,210,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. National Pension Service boosted its position in shares of Baker Hughes by 6.4% in the third quarter. National Pension Service now owns 1,362,973 shares of the company’s stock worth $49,271,000 after acquiring an additional 81,625 shares during the last quarter. Strategic Financial Concepts LLC purchased a new position in Baker Hughes during the fourth quarter worth approximately $640,000. Burney Co. boosted its holdings in shares of Baker Hughes by 315.0% in the 4th quarter. Burney Co. now owns 138,788 shares of the company’s stock valued at $5,693,000 after purchasing an additional 105,349 shares during the last quarter. Northstar Advisory Group LLC purchased a new stake in shares of Baker Hughes during the 4th quarter valued at $1,180,000. Finally, Artemis Investment Management LLP increased its holdings in shares of Baker Hughes by 29.4% during the 4th quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company’s stock worth $43,233,000 after buying an additional 239,773 shares during the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on BKR shares. Stifel Nicolaus lifted their target price on Baker Hughes from $48.00 to $54.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Citigroup lifted their price objective on Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Atb Cap Markets downgraded shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. The Goldman Sachs Group lifted their price target on shares of Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Finally, Barclays increased their price objective on shares of Baker Hughes from $51.00 to $55.00 and gave the stock 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $51.06.

Baker Hughes Stock Down 1.3 %

NASDAQ:BKR opened at $44.04 on Wednesday. The stock has a 50-day simple moving average of $44.38 and a 200 day simple moving average of $40.38. Baker Hughes has a one year low of $29.19 and a one year high of $49.40. The company has a market capitalization of $43.60 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 2.00 and a beta of 1.39. 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 (NASDAQ:BKR) last posted its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) 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%. Sell-side analysts predict that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend was Tuesday, February 11th. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s dividend payout ratio is currently 30.87%.

Insider Buying and Selling

In other news, EVP Maria C. Borras sold 8,000 shares of the stock in a transaction that occurred 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 directly owns 173,302 shares in the company, valued at approximately $7,758,730.54. This represents a 4.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.