Baker Hughes (NASDAQ:BKR) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp decreased its position in shares of Baker Hughes (NASDAQ:BKR) by 16.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,664,610 shares of the company’s stock after selling 936,216 shares during the quarter. Van ECK Associates Corp’s holdings in Baker Hughes were worth $191,343,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of BKR. Hotchkis & Wiley Capital Management LLC raised its stake in shares of Baker Hughes by 34.7% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock worth $394,775,000 after buying an additional 2,811,940 shares during the last quarter. Yaupon Capital Management LP acquired a new position in shares of Baker Hughes during the 3rd quarter valued at $47,296,000. Eagle Asset Management Inc. boosted its position in shares of Baker Hughes by 18.6% in the third quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company’s stock worth $198,326,000 after buying an additional 860,219 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Baker Hughes by 436.0% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,004,647 shares of the company’s stock worth $36,318,000 after purchasing an additional 817,227 shares in the last quarter. Finally, Groupama Asset Managment boosted its position in Baker Hughes by 1,045.1% in the 3rd quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock valued at $32,000 after buying an additional 811,711 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Price Performance

NASDAQ:BKR opened at $46.41 on Thursday. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The stock’s 50 day moving average price is $43.56 and its two-hundred day moving average price is $39.68. Baker Hughes has a 12-month low of $28.63 and a 12-month high of $49.40. The firm has a market capitalization of $45.92 billion, a price-to-earnings ratio of 15.57, a P/E/G ratio of 2.07 and a beta of 1.39.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. On average, analysts anticipate that Baker Hughes will post 2.57 earnings per share for the current year.

Baker Hughes Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Tuesday, February 11th will be given a dividend of $0.23 per share. The ex-dividend date is Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.98%. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s payout ratio is currently 28.19%.

Insider Activity

In related news, EVP Maria C. Borras sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $44.77, for a total transaction of $358,160.00. Following the completion of the sale, the executive vice president now owns 173,302 shares of the company’s stock, valued at $7,758,730.54. This trade represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.25% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BKR. Piper Sandler upped their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Wells Fargo & Company increased their price objective on shares of Baker Hughes from $49.00 to $54.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Atb Cap Markets downgraded Baker Hughes from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. The Goldman Sachs Group upped their target price on Baker Hughes from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Finally, Stifel Nicolaus lifted their price objective on shares of Baker Hughes from $48.00 to $54.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, Baker Hughes has a consensus rating of “Moderate Buy” and an average price target of $51.06.

About Baker Hughes

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.