Baker Hughes (NASDAQ:BKR) Shares Purchased by Fmr LLC

Fmr LLC grew its holdings in shares of Baker Hughes (NASDAQ:BKR) by 12.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,702,057 shares of the company’s stock after purchasing an additional 1,744,225 shares during the period. Fmr LLC’s holdings in Baker Hughes were worth $644,098,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Benjamin Edwards Inc. purchased a new stake in Baker Hughes during the third quarter worth $283,000. Morse Asset Management Inc purchased a new stake in shares of Baker Hughes in the 3rd quarter worth about $1,263,000. Quadrature Capital Ltd purchased a new position in Baker Hughes during the 3rd quarter valued at about $322,000. Wellington Management Group LLP increased its holdings in Baker Hughes by 4.1% during the 3rd quarter. Wellington Management Group LLP now owns 408,310 shares of the company’s stock valued at $14,760,000 after acquiring an additional 16,025 shares in the last quarter. Finally, EP Wealth Advisors LLC purchased a new stake in shares of Baker Hughes in the third quarter valued at about $637,000. 92.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BKR has been the subject of several research reports. Atb Cap Markets downgraded Baker Hughes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Royal Bank of Canada boosted their price target on Baker Hughes from $49.00 to $53.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Jefferies Financial Group increased their price objective on Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Wells Fargo & Company boosted their target price on shares of Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Susquehanna raised their price target on shares of Baker Hughes from $53.00 to $55.00 and gave the stock a “positive” rating in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $51.18.

Baker Hughes Price Performance

BKR stock opened at $35.00 on Wednesday. The stock has a 50-day moving average price of $43.91 and a two-hundred day moving average price of $42.01. The company has a market cap of $34.65 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08. 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 12-month low of $30.93 and a 12-month high of $49.40.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. As a group, research analysts predict 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. Stockholders of record on Tuesday, February 11th were given a $0.23 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $0.92 annualized dividend and a dividend yield of 2.63%. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s dividend payout ratio is presently 30.87%.

Insider Activity

In other news, EVP Maria C. Borras sold 8,000 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the sale, the executive vice president now owns 173,302 shares in the company, valued at approximately $7,758,730.54. This trade represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.25% of the company’s stock.

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.