Mackenzie Financial Corp Purchases 80,572 Shares of Baker Hughes (NASDAQ:BKR)

Mackenzie Financial Corp boosted its holdings in Baker Hughes (NASDAQ:BKR) by 22.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 435,260 shares of the company’s stock after buying an additional 80,572 shares during the quarter. Mackenzie Financial Corp’s holdings in Baker Hughes were worth $14,877,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in BKR. Jefferies Financial Group Inc. bought a new stake in Baker Hughes in the fourth quarter valued at approximately $27,000. Bruce G. Allen Investments LLC bought a new stake in shares of Baker Hughes in the 4th quarter valued at $33,000. OFI Invest Asset Management acquired a new stake in shares of Baker Hughes during the third quarter worth $36,000. Quarry LP increased 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 during the period. Finally, Rational Advisors LLC raised its stake in 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 during the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on BKR. Susquehanna reiterated a “positive” rating and set a $40.00 price target on shares of Baker Hughes in a report on Monday, April 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $39.00 price target on shares of Baker Hughes in a research note on Thursday, February 1st. TD Cowen raised their price objective on shares of Baker Hughes from $46.00 to $49.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Wolfe Research lowered shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 29th. Finally, Citigroup cut their target price on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, January 26th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.87.

Insider Activity at Baker Hughes

In other Baker Hughes news, SVP James E. Apostolides sold 5,000 shares of Baker Hughes stock in a transaction on Friday, April 5th. The shares were sold at an average price of $33.88, for a total transaction of $169,400.00. Following the transaction, the senior vice president now directly owns 14,998 shares of the company’s stock, valued at approximately $508,132.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP James E. Apostolides sold 10,000 shares of the stock in a transaction that occurred on 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 $425,437.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP James E. Apostolides sold 5,000 shares of the business’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $33.88, for a total value of $169,400.00. Following the completion of the transaction, the senior vice president now directly owns 14,998 shares in the company, valued at approximately $508,132.24. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

Baker Hughes Stock Up 0.6 %

Shares of NASDAQ BKR opened at $32.20 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.25 and a quick ratio of 0.86. The company has a 50-day moving average price of $31.61 and a 200-day moving average price of $32.59. The stock has a market capitalization of $32.23 billion, a P/E ratio of 16.86, a P/E/G ratio of 0.61 and a beta of 1.42. Baker Hughes has a 1 year low of $26.81 and a 1 year high of $37.58.

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

Baker Hughes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Tuesday, February 13th were issued a dividend of $0.21 per share. The ex-dividend date was Monday, February 12th. This represents a $0.84 annualized dividend and a yield of 2.61%. This is an increase from Baker Hughes’s previous quarterly dividend of $0.20. Baker Hughes’s dividend payout ratio is 43.98%.

Baker Hughes Company Profile

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.