Baker Hughes (NASDAQ:BKR) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp lowered its stake in shares of Baker Hughes (NASDAQ:BKR) by 3.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 6,935,252 shares of the company’s stock after selling 278,913 shares during the period. Van ECK Associates Corp’s holdings in Baker Hughes were worth $237,047,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Louisiana State Employees Retirement System bought a new stake in shares of Baker Hughes during the 4th quarter worth about $4,813,000. Nordea Investment Management AB raised its stake in Baker Hughes by 731.1% during the 4th quarter. Nordea Investment Management AB now owns 1,458,833 shares of the company’s stock valued at $49,732,000 after purchasing an additional 1,283,296 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Baker Hughes by 12.0% in the 3rd quarter. Wellington Management Group LLP now owns 905,513 shares of the company’s stock valued at $31,983,000 after buying an additional 97,108 shares in the last quarter. Wedge Capital Management L L P NC raised its stake in shares of Baker Hughes by 15.4% in the 4th quarter. Wedge Capital Management L L P NC now owns 527,145 shares of the company’s stock valued at $18,018,000 after buying an additional 70,257 shares in the last quarter. Finally, Artemis Investment Management LLP grew its holdings in shares of Baker Hughes by 8.7% in the 4th quarter. Artemis Investment Management LLP now owns 3,111,853 shares of the company’s stock worth $106,365,000 after purchasing an additional 248,125 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Insider Buying and Selling

In related news, SVP James E. Apostolides sold 5,000 shares of the business’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $33.88, for a total transaction of $169,400.00. Following the transaction, the senior vice president now directly owns 14,998 shares in the company, valued at approximately $508,132.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, SVP James E. Apostolides sold 5,000 shares of Baker Hughes stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $33.88, for a total value of $169,400.00. Following the completion of the transaction, the senior vice president now owns 14,998 shares in the company, valued at approximately $508,132.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP James E. Apostolides sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total value of $294,400.00. Following the sale, the senior vice president now owns 14,451 shares of the company’s stock, valued at $425,437.44. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

Baker Hughes Stock Performance

Shares of NASDAQ:BKR traded up $0.38 during midday trading on Monday, reaching $33.22. 5,156,894 shares of the company’s stock traded hands, compared to its average volume of 8,720,806. The company has a market cap of $33.25 billion, a price-to-earnings ratio of 18.56, a P/E/G ratio of 0.62 and a beta of 1.42. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.25. Baker Hughes has a one year low of $26.81 and a one year high of $37.58. The stock has a 50 day moving average of $32.13 and a 200 day moving average of $32.50.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. Baker Hughes had a return on equity of 11.42% and a net margin of 6.95%. The business had revenue of $6.42 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same quarter in the prior year, the business posted $0.28 earnings per share. The business’s quarterly revenue was up 12.3% on a year-over-year basis. As a group, equities research analysts anticipate that Baker Hughes will post 2.08 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 6th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend is Friday, May 3rd. Baker Hughes’s dividend payout ratio is currently 46.93%.

Analysts Set New Price Targets

A number of equities research analysts have commented on BKR shares. Susquehanna reissued a “positive” rating and set a $40.00 price objective on shares of Baker Hughes in a report on Monday, April 8th. Morgan Stanley raised their target price on shares of Baker Hughes from $40.00 to $43.00 in a report on Tuesday, April 23rd. TD Cowen raised their price target on shares of Baker Hughes from $46.00 to $49.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Benchmark reissued a “buy” rating and issued a $40.00 target price on shares of Baker Hughes in a research note on Wednesday, April 24th. Finally, UBS Group lifted their target price on Baker Hughes from $35.00 to $36.00 in a report on Tuesday, April 23rd. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Baker Hughes currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.94.

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.