ExodusPoint Capital Management LP cut its stake in shares of Baker Hughes (NASDAQ:BKR – Free Report) by 18.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 663,787 shares of the company’s stock after selling 145,523 shares during the quarter. ExodusPoint Capital Management LP owned 0.07% of Baker Hughes worth $20,982,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Baker Hughes during the 4th quarter worth $195,343,000. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of Baker Hughes by 98,060.2% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,167,882 shares of the company’s stock worth $131,747,000 after purchasing an additional 4,163,636 shares in the last quarter. Dodge & Cox increased its position in shares of Baker Hughes by 9.9% during the 1st quarter. Dodge & Cox now owns 34,072,354 shares of the company’s stock valued at $983,328,000 after purchasing an additional 3,065,517 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Baker Hughes by 2.7% during the 1st quarter. BlackRock Inc. now owns 91,242,708 shares of the company’s stock valued at $2,633,265,000 after buying an additional 2,390,713 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Baker Hughes by 39.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,258,477 shares of the company’s stock worth $229,434,000 after buying an additional 2,038,214 shares during the last quarter. Hedge funds and other institutional investors own 92.22% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have commented on the stock. Morgan Stanley increased their price target on shares of Baker Hughes from $37.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, October 17th. Barclays lifted their target price on shares of Baker Hughes from $42.00 to $43.00 and gave the stock an “overweight” rating in a research report on Friday, October 27th. UBS Group upped their price target on shares of Baker Hughes from $34.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, August 17th. Citigroup boosted their target price on Baker Hughes from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, July 25th. Finally, Bank of America raised their price target on Baker Hughes from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, July 24th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Baker Hughes currently has an average rating of “Moderate Buy” and an average target price of $39.56.
Baker Hughes Trading Up 0.4 %
NASDAQ:BKR traded up $0.15 during trading hours on Monday, hitting $33.86. The company had a trading volume of 2,338,602 shares, compared to its average volume of 6,881,133. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.27 and a quick ratio of 0.88. Baker Hughes has a 52 week low of $26.12 and a 52 week high of $37.58. The company has a market capitalization of $34.07 billion, a PE ratio of 20.31 and a beta of 1.45. The stock has a 50-day moving average price of $35.03 and a 200 day moving average price of $33.33.
Baker Hughes (NASDAQ:BKR – Get Free Report) last issued its quarterly earnings data on Wednesday, October 25th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.40 by $0.02. Baker Hughes had a net margin of 6.86% and a return on equity of 9.94%. The business had revenue of $6.64 billion during the quarter, compared to analyst estimates of $6.52 billion. During the same period last year, the business posted $0.26 earnings per share. Baker Hughes’s quarterly revenue was up 23.8% compared to the same quarter last year. On average, equities research analysts predict that Baker Hughes will post 1.57 EPS for the current fiscal year.
Baker Hughes Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, November 17th. Investors of record on Monday, November 6th were paid a $0.20 dividend. The ex-dividend date was Friday, November 3rd. This represents a $0.80 annualized dividend and a dividend yield of 2.36%. Baker Hughes’s payout ratio is 48.19%.
Insider Activity at Baker Hughes
In other news, insider Regina Jones sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $35.19, for a total value of $351,900.00. Following the sale, the insider now directly owns 62,873 shares of the company’s stock, valued at approximately $2,212,500.87. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 40,000 shares of company stock valued at $1,414,400 in the last three months. Company insiders own 0.24% 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. It operates through two segments: Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET). 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.
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