Baker Hughes (NASDAQ:BKR) Stock Holdings Lessened by Clearline Capital LP

Clearline Capital LP cut its stake in shares of Baker Hughes (NASDAQ:BKR) by 19.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 145,800 shares of the company’s stock after selling 34,200 shares during the period. Clearline Capital LP’s holdings in Baker Hughes were worth $5,981,000 at the end of the most recent reporting period.

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

Baker Hughes Trading Down 0.2 %

Shares of Baker Hughes stock opened at $36.32 on Thursday. Baker Hughes has a 52-week low of $30.93 and a 52-week high of $49.40. The firm has a market capitalization of $35.98 billion, a PE ratio of 12.19, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. The company’s fifty day moving average price is $40.00 and its two-hundred day moving average price is $41.99.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.03. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. The firm had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.54 billion. On average, analysts expect that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, May 6th. This represents a $0.92 annualized dividend and a yield of 2.53%. Baker Hughes’s dividend payout ratio is currently 31.40%.

Analysts Set New Price Targets

BKR has been the topic of a number of analyst reports. Evercore ISI lowered their price objective on Baker Hughes from $52.00 to $50.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. TD Cowen lowered their price target on Baker Hughes from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Piper Sandler reduced their price objective on shares of Baker Hughes from $53.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. TD Securities lowered their target price on shares of Baker Hughes from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Finally, Stifel Nicolaus set a $50.00 target price on shares of Baker Hughes and gave the stock a “buy” rating in a research report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Baker Hughes has a consensus rating of “Moderate Buy” and a consensus target price of $49.11.

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.