Commerzbank Aktiengesellschaft FI Makes New Investment in Baker Hughes (NASDAQ:BKR)

Commerzbank Aktiengesellschaft FI acquired a new stake in Baker Hughes (NASDAQ:BKR) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 7,016 shares of the company’s stock, valued at approximately $240,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC acquired a new stake in Baker Hughes in the fourth quarter valued at approximately $33,000. OFI Invest Asset Management bought a new position in shares of Baker Hughes in the third quarter valued at approximately $36,000. Rational Advisors LLC lifted its holdings in shares of Baker Hughes by 44.0% in the third quarter. Rational Advisors LLC now owns 1,250 shares of the company’s stock valued at $44,000 after purchasing an additional 382 shares in the last quarter. Clearstead Advisors LLC lifted its holdings in shares of Baker Hughes by 38.2% in the third quarter. Clearstead Advisors LLC now owns 1,523 shares of the company’s stock valued at $54,000 after purchasing an additional 421 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Baker Hughes in the third quarter valued at approximately $76,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Price Performance

Shares of NASDAQ BKR opened at $32.46 on Tuesday. The stock has a market cap of $32.49 billion, a PE ratio of 16.99, a price-to-earnings-growth ratio of 0.62 and a beta of 1.42. Baker Hughes has a fifty-two week low of $26.81 and a fifty-two week high of $37.58. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.86 and a current ratio of 1.25. The stock has a fifty day moving average of $31.74 and a 200-day moving average of $32.56.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Wednesday, January 24th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.04. The company had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $6.93 billion. Baker Hughes had a return on equity of 10.63% and a net margin of 7.62%. The firm’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.38 earnings per share. Equities research analysts anticipate that Baker Hughes will post 2.07 earnings per share for the current year.

Baker Hughes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Tuesday, February 13th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, February 12th. This is a boost from Baker Hughes’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 2.59%. Baker Hughes’s payout ratio is 43.98%.

Insider Activity

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on BKR shares. Susquehanna restated a “positive” rating and issued a $40.00 target price on shares of Baker Hughes in a report on Monday, April 8th. TD Cowen raised their target price on Baker Hughes from $46.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Wolfe Research lowered Baker Hughes from an “outperform” rating to a “peer perform” rating in a report on Monday, January 29th. Royal Bank of Canada reiterated an “outperform” rating and set a $39.00 price target on shares of Baker Hughes in a report on Thursday, February 1st. Finally, Barclays dropped their price target on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a report on Friday, January 26th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Baker Hughes presently has an average rating of “Moderate Buy” and an average price target of $41.07.

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.