State of Alaska Department of Revenue Has $4.56 Million Position in Baker Hughes (NYSE:BKR)

State of Alaska Department of Revenue grew its holdings in shares of Baker Hughes (NYSE:BKRGet Rating) by 7.1% in the second quarter, HoldingsChannel.com reports. The fund owned 157,820 shares of the company’s stock after acquiring an additional 10,510 shares during the quarter. State of Alaska Department of Revenue’s holdings in Baker Hughes were worth $4,555,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in BKR. Capital Research Global Investors boosted its position in shares of Baker Hughes by 48.9% during the 4th quarter. Capital Research Global Investors now owns 86,254,355 shares of the company’s stock worth $2,075,278,000 after purchasing an additional 28,319,193 shares in the last quarter. Norges Bank bought a new position in shares of Baker Hughes during the 4th quarter worth about $501,229,000. JPMorgan Chase & Co. boosted its position in shares of Baker Hughes by 312.7% during the 1st quarter. JPMorgan Chase & Co. now owns 19,252,385 shares of the company’s stock worth $700,977,000 after purchasing an additional 14,587,722 shares in the last quarter. Capital World Investors boosted its position in shares of Baker Hughes by 9.4% during the 1st quarter. Capital World Investors now owns 116,492,563 shares of the company’s stock worth $4,241,658,000 after purchasing an additional 10,021,569 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Baker Hughes by 9.0% during the 1st quarter. Vanguard Group Inc. now owns 103,492,752 shares of the company’s stock worth $3,768,172,000 after purchasing an additional 8,563,026 shares in the last quarter. Institutional investors own 96.62% of the company’s stock.

Baker Hughes Price Performance

Baker Hughes stock opened at $23.00 on Wednesday. Baker Hughes has a 52 week low of $22.30 and a 52 week high of $39.78. The company’s 50 day moving average price is $25.16 and its two-hundred day moving average price is $30.83. The company has a quick ratio of 1.08, a current ratio of 1.51 and a debt-to-equity ratio of 0.44. The stock has a market cap of $23.43 billion, a P/E ratio of -53.49 and a beta of 1.40.

Baker Hughes (NYSE:BKRGet Rating) last posted its earnings results on Wednesday, July 20th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.11). Baker Hughes had a positive return on equity of 3.82% and a negative net margin of 2.27%. The firm had revenue of $5.05 billion for the quarter, compared to the consensus estimate of $5.34 billion. During the same period in the prior year, the business earned $0.10 EPS. Baker Hughes’s quarterly revenue was down 1.8% compared to the same quarter last year. On average, equities analysts predict that Baker Hughes will post 0.94 earnings per share for the current year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 19th. Shareholders of record on Tuesday, August 9th were given a dividend of $0.18 per share. The ex-dividend date was Monday, August 8th. This represents a $0.72 annualized dividend and a dividend yield of 3.13%. Baker Hughes’s dividend payout ratio is currently -167.44%.

Insiders Place Their Bets

In other news, Director Michael R. Dumais bought 10,000 shares of the company’s stock in a transaction on Thursday, July 21st. The shares were purchased at an average price of $24.39 per share, with a total value of $243,900.00. Following the transaction, the director now directly owns 24,977 shares in the company, valued at $609,189.03. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on BKR shares. Wells Fargo & Company cut their price objective on shares of Baker Hughes from $43.00 to $36.00 in a research report on Thursday, July 21st. Susquehanna cut their price objective on shares of Baker Hughes from $39.00 to $35.00 in a research report on Thursday, July 21st. Citigroup dropped their price target on shares of Baker Hughes from $42.00 to $40.00 in a research report on Friday, September 9th. Susquehanna Bancshares dropped their price target on shares of Baker Hughes from $39.00 to $35.00 and set a “positive” rating on the stock in a research report on Thursday, July 21st. Finally, Seaport Res Ptn reaffirmed a “buy” rating on shares of Baker Hughes in a research report on Thursday, July 21st. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $36.05.

Baker Hughes Profile

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Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. It operates through four segments: Oilfield Services (OFS), Oilfield Equipment (OFE), Turbomachinery & Process Solutions (TPS), and Digital Solutions (DS). The OFS segment offers exploration, drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, wireline services, downhole completion tools and systems, wellbore intervention tools and services, pressure pumping systems, oilfield and industrial chemicals, and artificial lift technologies for oil and natural gas, and oilfield service companies.

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Institutional Ownership by Quarter for Baker Hughes (NYSE:BKR)

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