Mackenzie Financial Corp Has $3.35 Million Stock Holdings in Baker Hughes (NASDAQ:BKR)

Mackenzie Financial Corp lessened its stake in shares of Baker Hughes (NASDAQ:BKRGet Rating) by 46.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 115,890 shares of the company’s stock after selling 100,886 shares during the period. Mackenzie Financial Corp’s holdings in Baker Hughes were worth $3,346,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Cibc World Market Inc. grew its holdings in Baker Hughes by 16.0% during the second quarter. Cibc World Market Inc. now owns 42,657 shares of the company’s stock valued at $1,232,000 after purchasing an additional 5,874 shares during the last quarter. Industrial Alliance Investment Management Inc. boosted its position in shares of Baker Hughes by 7.5% in the second quarter. Industrial Alliance Investment Management Inc. now owns 12,946 shares of the company’s stock valued at $374,000 after acquiring an additional 904 shares during the period. California Public Employees Retirement System boosted its position in shares of Baker Hughes by 10.0% in the second quarter. California Public Employees Retirement System now owns 1,646,654 shares of the company’s stock valued at $47,539,000 after acquiring an additional 149,514 shares during the period. Principal Financial Group Inc. boosted its position in shares of Baker Hughes by 13.9% in the second quarter. Principal Financial Group Inc. now owns 1,252,335 shares of the company’s stock valued at $36,155,000 after acquiring an additional 153,006 shares during the period. Finally, WINTON GROUP Ltd bought a new stake in shares of Baker Hughes in the second quarter valued at approximately $642,000. Institutional investors and hedge funds own 96.62% of the company’s stock.

Baker Hughes Stock Down 2.3 %

Shares of NASDAQ BKR opened at $29.13 on Monday. The stock has a market cap of $29.38 billion, a PE ratio of -63.33 and a beta of 1.52. The business has a fifty day moving average of $25.53 and a two-hundred day moving average of $27.90. Baker Hughes has a 52-week low of $20.42 and a 52-week high of $39.78. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.08 and a current ratio of 1.51.

Baker Hughes (NASDAQ:BKRGet Rating) last issued its quarterly earnings data on Wednesday, October 19th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. The company had revenue of $5.36 billion during the quarter, compared to analysts’ expectations of $5.43 billion. Baker Hughes had a positive return on equity of 4.77% and a negative net margin of 2.36%. The business’s revenue was up 5.3% on a year-over-year basis. During the same period last year, the business earned $0.16 earnings per share. As a group, equities research analysts expect that Baker Hughes will post 0.86 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 18th. Stockholders of record on Monday, November 7th were paid a $0.19 dividend. The ex-dividend date was Friday, November 4th. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.61%. Baker Hughes’s dividend payout ratio (DPR) is -165.22%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BKR. ATB Capital reduced their price objective on Baker Hughes to $37.00 in a research report on Thursday, October 20th. Barclays reduced their price objective on Baker Hughes to $38.00 in a research report on Thursday, October 20th. Wells Fargo & Company cut Baker Hughes from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $32.00 to $29.00 in a research report on Wednesday, October 26th. They noted that the move was a valuation call. Piper Sandler increased their price objective on Baker Hughes from $30.00 to $34.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Bank of America raised their target price on Baker Hughes from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, October 20th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $34.54.

Insider Activity

In other news, EVP Neil Saunders sold 118,492 shares of the firm’s stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $30.64, for a total value of $3,630,594.88. Following the completion of the sale, the executive vice president now directly owns 54,417 shares in the company, valued at $1,667,336.88. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Neil Saunders sold 118,492 shares of the firm’s stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $30.64, for a total value of $3,630,594.88. Following the completion of the sale, the executive vice president now directly owns 54,417 shares in the company, valued at $1,667,336.88. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Gregory D. Brenneman sold 85,000 shares of the firm’s stock in a transaction on Friday, November 11th. The shares were sold at an average price of $31.23, for a total value of $2,654,550.00. Following the completion of the sale, the director now owns 16,842 shares of the company’s stock, valued at $525,975.66. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 275,492 shares of company stock worth $8,532,265. 0.29% of the stock is owned by corporate insiders.

Baker Hughes Company 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.

See Also

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

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