Baker Hughes (NASDAQ:BKR) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lessened its holdings in shares of Baker Hughes (NASDAQ:BKR – Get Rating) by 79.1% in the third quarter, Holdings Channel reports. The firm owned 3,029,136 shares of the company’s stock after selling 11,490,314 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Baker Hughes were worth $63,493,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. JPMorgan Chase & Co. raised its stake in shares of Baker Hughes by 96.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 37,882,259 shares of the company’s stock valued at $1,093,660,000 after acquiring an additional 18,629,874 shares during the period. FMR LLC lifted its stake in shares of Baker Hughes by 41.2% during the second quarter. FMR LLC now owns 26,877,366 shares of the company’s stock worth $775,950,000 after purchasing an additional 7,836,906 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Baker Hughes by 214.6% in the second quarter. Franklin Resources Inc. now owns 10,398,098 shares of the company’s stock worth $300,193,000 after buying an additional 7,092,424 shares during the period. Ceredex Value Advisors LLC grew its stake in shares of Baker Hughes by 443.0% in the third quarter. Ceredex Value Advisors LLC now owns 5,931,026 shares of the company’s stock valued at $124,314,000 after buying an additional 4,838,736 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in shares of Baker Hughes by 5.6% during the 3rd quarter. BlackRock Inc. now owns 84,632,999 shares of the company’s stock valued at $1,773,908,000 after buying an additional 4,474,453 shares during the period. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Insider Buying and Selling

In other Baker Hughes news, EVP Maria C. Borras sold 9,811 shares of the stock in a transaction on Tuesday, January 31st. The stock was sold at an average price of $30.93, for a total value of $303,454.23. Following the sale, the executive vice president now directly owns 59,463 shares of the company’s stock, valued at $1,839,190.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.29% of the company’s stock.

Baker Hughes Stock Performance

Baker Hughes stock opened at $28.14 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.32 and a quick ratio of 0.90. Baker Hughes has a 12 month low of $20.42 and a 12 month high of $39.78. The company has a fifty day moving average price of $31.03 and a two-hundred day moving average price of $28.14. The company has a market cap of $28.46 billion, a PE ratio of -46.90 and a beta of 1.46.

Baker Hughes (NASDAQ:BKR – Get Rating) last posted its quarterly earnings results on Monday, January 23rd. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.02). The business had revenue of $5.91 billion during the quarter, compared to analyst estimates of $6.07 billion. Baker Hughes had a negative net margin of 2.85% and a positive return on equity of 5.98%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the firm posted $0.25 earnings per share. Research analysts expect that Baker Hughes will post 1.57 earnings per share for the current year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 17th. Stockholders of record on Monday, February 6th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend was Friday, February 3rd. Baker Hughes’s payout ratio is -126.67%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Barclays increased their price objective on shares of Baker Hughes from $38.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday, January 25th. Citigroup lifted their price target on shares of Baker Hughes from $36.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, January 25th. Susquehanna upped their price objective on shares of Baker Hughes from $35.00 to $40.00 and gave the company a “positive” rating in a research report on Tuesday, January 24th. Benchmark assumed coverage on Baker Hughes in a research report on Thursday, January 19th. They set a “buy” rating and a $36.00 target price on the stock. Finally, Morgan Stanley boosted their price target on Baker Hughes from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 4th. One investment analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.68.

Baker Hughes Company Profile

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Baker Hughes Co is a holding company, which engages in the provision of oilfield products, services, and digital solutions. It operates through the Oilfield Services and Equipment (OFSE) and industrial and Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides services for onshore and offshore oilfield operations.