Baker Hughes (NASDAQ:BKR) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lowered its stake in shares of Baker Hughes (NASDAQ:BKR) by 32.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,094 shares of the company’s stock after selling 6,428 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Baker Hughes were worth $537,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in BKR. Geode Capital Management LLC grew its holdings in Baker Hughes by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 24,078,093 shares of the company’s stock worth $867,514,000 after buying an additional 123,172 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in shares of Baker Hughes by 34.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock worth $394,775,000 after purchasing an additional 2,811,940 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Baker Hughes by 1.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,633,006 shares of the company’s stock valued at $348,233,000 after purchasing an additional 145,537 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Baker Hughes by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,951,703 shares of the company’s stock valued at $251,304,000 after purchasing an additional 22,383 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Baker Hughes by 11.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,495,752 shares of the company’s stock worth $198,671,000 after purchasing an additional 572,943 shares during the period. 92.06% of the stock is currently owned by institutional investors.

Baker Hughes Stock Up 3.6 %

BKR stock opened at $44.60 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. The firm has a market capitalization of $44.13 billion, a P/E ratio of 20.00, a P/E/G ratio of 0.88 and a beta of 1.39. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $47.47. The company’s 50 day simple moving average is $43.00 and its 200-day simple moving average is $38.96.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.07. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. As a group, equities research analysts anticipate that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Tuesday, February 11th will be paid a $0.23 dividend. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a yield of 2.06%. Baker Hughes’s dividend payout ratio is currently 37.67%.

Insiders Place Their Bets

In other news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $44.77, for a total value of $358,160.00. Following the transaction, the executive vice president now directly owns 173,302 shares of the company’s stock, valued at approximately $7,758,730.54. This represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

BKR has been the topic of several research analyst reports. Bank of America raised their target price on shares of Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. TD Cowen dropped their target price on Baker Hughes from $53.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Piper Sandler began coverage on Baker Hughes in a research note on Thursday, December 19th. They set an “overweight” rating and a $53.00 price target for the company. Benchmark reissued a “buy” rating and issued a $42.00 price objective on shares of Baker Hughes in a research note on Thursday, October 24th. Finally, Susquehanna upped their price objective on Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a report on Thursday, October 24th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $48.06.

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.