Interval Partners LP Decreases Stake in Baker Hughes (NASDAQ:BKR)

Interval Partners LP lowered its position in Baker Hughes (NASDAQ:BKR) by 10.6% in the 4th quarter, HoldingsChannel reports. The fund owned 107,463 shares of the company’s stock after selling 12,798 shares during the period. Interval Partners LP’s holdings in Baker Hughes were worth $4,408,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. JFS Wealth Advisors LLC boosted its stake in Baker Hughes by 135.9% in the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock worth $27,000 after purchasing an additional 386 shares during the period. SBI Securities Co. Ltd. bought a new position in Baker Hughes in the 4th quarter worth about $30,000. Larson Financial Group LLC boosted its stake in Baker Hughes by 41.2% in 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 bought a new position in Baker Hughes in the 4th quarter worth about $45,000. Finally, OFI Invest Asset Management bought a new position in Baker Hughes in the 4th quarter worth about $47,000. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Performance

NASDAQ:BKR opened at $36.49 on Monday. The business has a 50 day moving average of $39.72 and a 200 day moving average of $42.07. The company has a market capitalization of $36.15 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 2.00 and a beta of 0.96. Baker Hughes has a 1-year low of $30.93 and a 1-year high of $49.40. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. The company had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.54 billion. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. On average, sell-side analysts predict that Baker Hughes will post 2.59 earnings per share for the current fiscal 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 given a $0.23 dividend. The ex-dividend date is Tuesday, May 6th. This represents a $0.92 annualized dividend and a yield of 2.52%. Baker Hughes’s payout ratio is currently 31.40%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BKR. Susquehanna cut their target price on Baker Hughes from $48.00 to $46.00 and set a “positive” rating for the company in a research note on Thursday, April 24th. The Goldman Sachs Group raised their target price on Baker Hughes from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Benchmark restated a “buy” rating and issued a $57.00 target price on shares of Baker Hughes in a research note on Tuesday, February 11th. Citigroup dropped their price target on Baker Hughes from $54.00 to $53.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Finally, Piper Sandler dropped their price target on Baker Hughes from $53.00 to $50.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, Baker Hughes presently has an average rating of “Moderate Buy” and a consensus price target of $49.11.

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.