OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Lowers Stock Position in Baker Hughes (NASDAQ:BKR)

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its position in shares of Baker Hughes (NASDAQ:BKR) by 46.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 145,990 shares of the company’s stock after selling 124,910 shares during the quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Baker Hughes were worth $5,989,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Morse Asset Management Inc raised its position in Baker Hughes by 4.0% during the fourth quarter. Morse Asset Management Inc now owns 36,350 shares of the company’s stock worth $1,491,000 after acquiring an additional 1,400 shares during the period. Lighthouse Investment Partners LLC acquired a new position in Baker Hughes during the fourth quarter worth $1,546,000. Investment Management Corp of Ontario raised its position in Baker Hughes by 8.0% during the fourth quarter. Investment Management Corp of Ontario now owns 97,376 shares of the company’s stock worth $3,994,000 after acquiring an additional 7,172 shares during the period. Focus Partners Wealth raised its position in Baker Hughes by 26.3% during the fourth quarter. Focus Partners Wealth now owns 17,495 shares of the company’s stock worth $718,000 after acquiring an additional 3,641 shares during the period. Finally, Ensign Peak Advisors Inc raised its position in Baker Hughes by 40.4% during the fourth quarter. Ensign Peak Advisors Inc now owns 1,531,007 shares of the company’s stock worth $62,802,000 after acquiring an additional 440,683 shares during the period. 92.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on BKR shares. The Goldman Sachs Group upped their price objective on shares of Baker Hughes from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Benchmark restated a “buy” rating and set a $57.00 price objective on shares of Baker Hughes in a research report on Tuesday, February 11th. TD Securities reduced their price objective on shares of Baker Hughes from $50.00 to $49.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. JPMorgan Chase & Co. increased their target price on shares of Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, TD Cowen cut their price objective on shares of Baker Hughes from $50.00 to $49.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, Baker Hughes presently has an average rating of “Moderate Buy” and an average price target of $49.11.

Baker Hughes Stock Up 3.1%

BKR stock opened at $37.62 on Tuesday. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. Baker Hughes has a twelve month low of $30.93 and a twelve month high of $49.40. The company’s 50 day moving average is $39.63 and its two-hundred day moving average is $42.07. The stock has a market cap of $37.27 billion, a P/E ratio of 12.62, a PEG ratio of 2.00 and a beta of 0.96.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data 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. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. The company had revenue of $6.43 billion for the quarter, compared to analysts’ expectations of $6.54 billion. Research analysts expect that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, May 6th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.45%. Baker Hughes’s payout ratio is 31.40%.

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.