Bryce Point Capital LLC Buys Shares of 36,135 Baker Hughes (NASDAQ:BKR)

Bryce Point Capital LLC bought a new stake in Baker Hughes (NASDAQ:BKR) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 36,135 shares of the company’s stock, valued at approximately $1,482,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Geode Capital Management LLC increased its stake in Baker Hughes by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company’s stock worth $1,004,212,000 after acquiring an additional 465,832 shares during the last quarter. Norges Bank purchased a new position in shares of Baker Hughes during the 4th quarter valued at approximately $829,092,000. Hotchkis & Wiley Capital Management LLC grew its holdings in 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 acquiring an additional 2,811,940 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Baker Hughes in the fourth quarter valued at about $291,289,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Baker Hughes by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,086,903 shares of the company’s stock valued at $290,705,000 after acquiring an additional 135,200 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Benchmark reaffirmed a “buy” rating and issued a $57.00 price target on shares of Baker Hughes in a report 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. 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 report on Monday, February 3rd. Stifel Nicolaus increased their target price on Baker Hughes from $48.00 to $54.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Finally, Royal Bank of Canada boosted their price target on shares of Baker Hughes from $49.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, Baker Hughes currently has a consensus rating of “Moderate Buy” and an average target price of $51.00.

Baker Hughes Price Performance

NASDAQ BKR opened at $44.80 on Wednesday. The stock has a 50-day simple moving average of $44.71 and a 200 day simple moving average of $41.95. Baker Hughes has a twelve month low of $30.93 and a twelve month high of $49.40. The stock has a market capitalization of $44.36 billion, a PE ratio of 15.03, a P/E/G ratio of 2.00 and a beta of 1.30. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. Research analysts anticipate that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.05%. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date was Tuesday, February 11th. Baker Hughes’s dividend payout ratio (DPR) is currently 30.87%.

Insider Transactions at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.25% of the company’s stock.

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.