CANADA LIFE ASSURANCE Co Trims Stock Position in Baker Hughes (NASDAQ:BKR)

CANADA LIFE ASSURANCE Co trimmed its holdings in Baker Hughes (NASDAQ:BKR) by 51.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 882,582 shares of the company’s stock after selling 926,474 shares during the quarter. CANADA LIFE ASSURANCE Co owned 0.09% of Baker Hughes worth $36,184,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its stake in shares of Baker Hughes by 280.5% in the 4th quarter. NewEdge Advisors LLC now owns 42,297 shares of the company’s stock valued at $1,735,000 after purchasing an additional 31,181 shares during the period. United Capital Financial Advisors LLC raised its position in shares of Baker Hughes by 4.2% in the fourth quarter. United Capital Financial Advisors LLC now owns 19,043 shares of the company’s stock worth $781,000 after acquiring an additional 772 shares during the period. Jump Financial LLC boosted its stake in shares of Baker Hughes by 71.0% during the 4th quarter. Jump Financial LLC now owns 14,509 shares of the company’s stock worth $595,000 after acquiring an additional 6,026 shares in the last quarter. Canada Post Corp Registered Pension Plan purchased a new position in shares of Baker Hughes in the 4th quarter valued at about $4,297,000. Finally, Tribune Investment Group LP purchased a new position in shares of Baker Hughes in the 4th quarter valued at about $5,333,000. 92.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. The Goldman Sachs Group raised their price objective on Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. boosted their price target on shares of Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. TD Cowen decreased their price objective on shares of Baker Hughes from $53.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Benchmark reiterated a “buy” rating and issued a $57.00 target price on shares of Baker Hughes in a research report on Tuesday, February 11th. Finally, Barclays reduced their price target on shares of Baker Hughes from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Monday, March 31st. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, Baker Hughes has a consensus rating of “Moderate Buy” and an average target price of $50.65.

Insider Buying and Selling

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $44.77, for a total value of $358,160.00. Following the transaction, the executive vice president now owns 173,302 shares of the company’s stock, valued at $7,758,730.54. This represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.27% of the stock is currently owned by company insiders.

Baker Hughes Stock Up 1.9 %

Shares of BKR opened at $38.86 on Friday. The stock has a fifty day simple moving average of $42.34 and a two-hundred day simple moving average of $42.06. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $38.47 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08. Baker Hughes has a 52-week low of $30.93 and a 52-week high of $49.40.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Thursday, January 30th. The company reported $0.70 EPS 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 analysts forecast that Baker Hughes will post 2.59 EPS for the current 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 issued a $0.23 dividend. The ex-dividend date of this dividend 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 2.37%. Baker Hughes’s dividend payout ratio is currently 30.87%.

Baker Hughes 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.