Rhumbline Advisers Has $68.72 Million Stake in Baker Hughes (NASDAQ:BKR)

Rhumbline Advisers lifted its position in shares of Baker Hughes (NASDAQ:BKR) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,675,340 shares of the company’s stock after purchasing an additional 39,290 shares during the quarter. Rhumbline Advisers’ holdings in Baker Hughes were worth $68,722,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Hotchkis & Wiley Capital Management LLC grew its holdings in Baker Hughes by 34.7% during the third 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 in the last quarter. Yaupon Capital Management LP bought a new stake in Baker Hughes during the third quarter worth $47,296,000. Eagle Asset Management Inc. grew its holdings in Baker Hughes by 18.6% during 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 in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in 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 buying an additional 817,227 shares in the last quarter. Finally, Groupama Asset Managment grew its holdings in Baker Hughes by 1,045.1% during the third quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock worth $32,000 after buying an additional 811,711 shares in the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Stock Performance

NASDAQ:BKR opened at $46.40 on Monday. The business’s 50-day moving average price is $43.81 and its two-hundred day moving average price is $39.84. Baker Hughes has a twelve month low of $28.66 and a twelve month high of $49.40. The stock has a market cap of $45.91 billion, a P/E ratio of 15.57, a PEG ratio of 2.07 and a beta of 1.39. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. As a group, equities analysts predict that Baker Hughes will post 2.57 EPS for the current fiscal year.

Baker Hughes Increases Dividend

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

Insider Activity

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BKR. Citigroup upped their price objective on Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Benchmark restated a “buy” rating and issued a $57.00 price objective on shares of Baker Hughes in a research note on Tuesday, February 11th. 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 price objective on Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Finally, Wells Fargo & Company increased their price target on Baker Hughes from $49.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $51.06.

Baker Hughes Company 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.