Baker Hughes (NASDAQ:BKR) Shares Sold by Bridgewater Associates LP

Bridgewater Associates LP lowered its stake in shares of Baker Hughes (NASDAQ:BKR) by 71.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 350,421 shares of the company’s stock after selling 884,209 shares during the quarter. Bridgewater Associates LP’s holdings in Baker Hughes were worth $14,374,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. JFS Wealth Advisors LLC increased its stake in Baker Hughes by 135.9% during the fourth quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock worth $27,000 after acquiring an additional 386 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Baker Hughes in the 4th quarter worth approximately $30,000. Larson Financial Group LLC boosted its position in shares of Baker Hughes by 41.2% during the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock worth $30,000 after purchasing an additional 216 shares during the period. Kestra Investment Management LLC acquired a new stake in Baker Hughes in the 4th quarter valued at approximately $45,000. Finally, OFI Invest Asset Management purchased a new stake in Baker Hughes in the fourth quarter valued at approximately $47,000. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BKR has been the subject of several research analyst reports. Bank of America raised their price target on Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. JPMorgan Chase & Co. lifted their target price on Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. TD Cowen reduced their price target on shares of Baker Hughes from $53.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. The Goldman Sachs Group lifted their price objective on shares of Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Finally, Jefferies Financial Group raised their price target on shares of Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $50.65.

Insider Buying and Selling at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the sale, the executive vice president now directly owns 173,302 shares of the company’s stock, valued at $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 is available through the SEC website. 0.25% of the stock is currently owned by insiders.

Baker Hughes Trading Up 0.9 %

BKR opened at $38.16 on Wednesday. The business’s 50-day simple moving average is $42.83 and its 200-day simple moving average is $42.06. The company has a market cap of $37.78 billion, a P/E ratio of 12.81, a PEG ratio of 2.00 and a beta of 1.08. Baker Hughes has a one year low of $30.93 and a one year high of $49.40. 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 released its quarterly earnings data on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. As a group, equities research analysts expect that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were given a $0.23 dividend. The ex-dividend date was Tuesday, February 11th. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a yield of 2.41%. Baker Hughes’s payout ratio is 30.87%.

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.