Louisiana State Employees Retirement System lifted its stake in Baker Hughes (NYSE:BKR) by 6.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,200 shares of the company’s stock after acquiring an additional 2,600 shares during the period. Louisiana State Employees Retirement System’s holdings in Baker Hughes were worth $977,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of Baker Hughes by 5.2% in the fourth quarter. BlackRock Inc. now owns 55,399,708 shares of the company’s stock worth $1,155,083,000 after acquiring an additional 2,732,471 shares during the last quarter. Pzena Investment Management LLC grew its stake in shares of Baker Hughes by 9.4% in the fourth quarter. Pzena Investment Management LLC now owns 23,664,321 shares of the company’s stock worth $493,401,000 after acquiring an additional 2,034,067 shares during the last quarter. Norges Bank acquired a new stake in shares of Baker Hughes in the fourth quarter worth $209,140,000. Northern Trust Corp grew its stake in shares of Baker Hughes by 2.4% in the fourth quarter. Northern Trust Corp now owns 8,511,820 shares of the company’s stock worth $177,472,000 after acquiring an additional 203,382 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Baker Hughes by 8.6% in the fourth quarter. Bank of New York Mellon Corp now owns 6,390,767 shares of the company’s stock worth $133,247,000 after acquiring an additional 504,418 shares during the last quarter. Institutional investors and hedge funds own 98.17% of the company’s stock.
Several brokerages recently commented on BKR. BMO Capital Markets raised Baker Hughes from a “market perform” rating to an “outperform” rating and reduced their target price for the stock from $27.00 to $26.00 in a research report on Monday. Credit Suisse Group reduced their target price on Baker Hughes from $21.00 to $20.50 and set an “outperform” rating for the company in a research report on Thursday. Cowen raised their target price on Baker Hughes from $29.00 to $32.00 and gave the stock an “outperform” rating in a research report on Friday, January 22nd. Morgan Stanley raised their target price on Baker Hughes from $24.00 to $26.00 and gave the stock an “overweight” rating in a research report on Friday, January 22nd. Finally, Barclays cut Baker Hughes from an “overweight” rating to an “equal weight” rating in a research report on Friday, January 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company. Baker Hughes presently has an average rating of “Buy” and an average price target of $20.88.
Shares of BKR stock opened at $19.82 on Friday. The stock has a 50-day moving average price of $22.11 and a 200 day moving average price of $20.29. The company has a quick ratio of 1.01, a current ratio of 1.43 and a debt-to-equity ratio of 0.39. The firm has a market cap of $20.62 billion, a price-to-earnings ratio of -1.23, a PEG ratio of 2.39 and a beta of 1.78. Baker Hughes has a 12 month low of $12.13 and a 12 month high of $25.64.
Baker Hughes (NYSE:BKR) last announced its quarterly earnings data on Tuesday, April 20th. The company reported $0.12 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.01. The firm had revenue of $4.78 billion during the quarter, compared to analyst estimates of $4.78 billion. Baker Hughes had a positive return on equity of 1.12% and a negative net margin of 48.86%. The company’s revenue was down 11.9% on a year-over-year basis. During the same period last year, the company earned $0.11 earnings per share. Sell-side analysts predict that Baker Hughes will post 0.27 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, February 19th. Stockholders of record on Tuesday, February 9th were given a dividend of $0.18 per share. The ex-dividend date was Monday, February 8th. This represents a $0.72 annualized dividend and a dividend yield of 3.63%. Baker Hughes’s payout ratio is currently 84.71%.
About Baker Hughes
Baker Hughes Company provides a portfolio of technologies and services worldwide. The company 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, completions tools and systems, wellbore intervention tools and services, artificial lift systems, pressure pumping systems, and oilfield and industrial chemicals for oil and natural gas, and oilfield service companies.
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