Daiwa Securities Group Inc. Boosts Holdings in Baker Hughes (NASDAQ:BKR)

Daiwa Securities Group Inc. grew its position in shares of Baker Hughes (NASDAQ:BKR) by 7.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 141,127 shares of the company’s stock after purchasing an additional 9,931 shares during the period. Daiwa Securities Group Inc.’s holdings in Baker Hughes were worth $4,824,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Jefferies Financial Group Inc. purchased a new stake in shares of Baker Hughes during the fourth quarter valued at approximately $27,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Baker Hughes during the fourth quarter worth approximately $33,000. OFI Invest Asset Management acquired a new stake in shares of Baker Hughes during the third quarter worth approximately $36,000. Quarry LP grew its position in shares of Baker Hughes by 41.3% during the second quarter. Quarry LP now owns 1,132 shares of the company’s stock worth $36,000 after buying an additional 331 shares in the last quarter. Finally, Rational Advisors LLC grew its position in shares of Baker Hughes by 44.0% during the third quarter. Rational Advisors LLC now owns 1,250 shares of the company’s stock worth $44,000 after buying an additional 382 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on BKR. Wolfe Research downgraded shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 29th. Susquehanna reissued a “positive” rating and set a $40.00 price target on shares of Baker Hughes in a research report on Monday, April 8th. Barclays decreased their price target on shares of Baker Hughes from $43.00 to $42.00 and set an “overweight” rating for the company in a research report on Friday, January 26th. Citigroup decreased their price target on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, January 26th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $39.00 price objective on shares of Baker Hughes in a report on Thursday, February 1st. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Baker Hughes has a consensus rating of “Moderate Buy” and an average target price of $40.87.

Insider Transactions at Baker Hughes

In related news, SVP James E. Apostolides sold 5,000 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $33.88, for a total value of $169,400.00. Following the completion of the sale, the senior vice president now owns 14,998 shares of the company’s stock, valued at $508,132.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP James E. Apostolides sold 5,000 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $33.88, for a total value of $169,400.00. Following the completion of the sale, the senior vice president now owns 14,998 shares of the company’s stock, valued at $508,132.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP James E. Apostolides sold 10,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total transaction of $294,400.00. Following the completion of the sale, the senior vice president now directly owns 14,451 shares of the company’s stock, valued at approximately $425,437.44. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Baker Hughes Stock Up 1.2 %

Baker Hughes stock opened at $32.60 on Friday. The company has a 50-day simple moving average of $31.68 and a 200-day simple moving average of $32.58. The firm has a market capitalization of $32.63 billion, a P/E ratio of 17.07, a P/E/G ratio of 0.61 and a beta of 1.42. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.86 and a current ratio of 1.25. Baker Hughes has a one year low of $26.81 and a one year high of $37.58.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Wednesday, January 24th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.47 by $0.04. The business had revenue of $6.84 billion during the quarter, compared to analyst estimates of $6.93 billion. Baker Hughes had a net margin of 7.62% and a return on equity of 10.63%. The company’s quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.38 earnings per share. As a group, equities analysts expect that Baker Hughes will post 2.07 earnings per share for the current year.

Baker Hughes Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Tuesday, February 13th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, February 12th. This represents a $0.84 annualized dividend and a dividend yield of 2.58%. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.20. Baker Hughes’s dividend payout ratio is currently 43.98%.

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.