Baker Hughes (NASDAQ:BKR) Stake Lessened by STF Management LP

STF Management LP lessened its stake in Baker Hughes (NASDAQ:BKR) by 5.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,655 shares of the company’s stock after selling 859 shares during the period. STF Management LP’s holdings in Baker Hughes were worth $551,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Private Advisor Group LLC increased its stake in Baker Hughes by 7.8% during the fourth quarter. Private Advisor Group LLC now owns 11,889 shares of the company’s stock valued at $406,000 after purchasing an additional 865 shares during the last quarter. SCP Investment LP increased its stake in Baker Hughes by 31.3% during the fourth quarter. SCP Investment LP now owns 16,800 shares of the company’s stock valued at $546,000 after purchasing an additional 4,000 shares during the last quarter. Principal Securities Inc. bought a new stake in Baker Hughes during the fourth quarter valued at $95,000. Norges Bank bought a new stake in Baker Hughes during the fourth quarter valued at $551,555,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Baker Hughes during the fourth quarter valued at $592,000. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Performance

BKR stock opened at $33.98 on Tuesday. The company has a market capitalization of $33.76 billion, a P/E ratio of 18.98, a PEG ratio of 0.54 and a beta of 1.38. The company has a 50-day simple moving average of $35.08 and a 200 day simple moving average of $33.55. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $39.05. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 0.37.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.08. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The company had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $6.81 billion. During the same period in the prior year, the company earned $0.39 EPS. Baker Hughes’s revenue was up 12.4% on a year-over-year basis. Sell-side analysts predict that Baker Hughes will post 2.24 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Tuesday, August 6th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend was Tuesday, August 6th. Baker Hughes’s payout ratio is 46.93%.

Wall Street Analyst Weigh In

BKR has been the subject of several recent research reports. Wells Fargo & Company boosted their target price on shares of Baker Hughes from $35.00 to $40.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. The Goldman Sachs Group boosted their price target on shares of Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, July 29th. Bank of America reduced their price target on shares of Baker Hughes from $40.00 to $38.00 and set a “buy” rating for the company in a report on Monday, July 15th. Benchmark reissued a “buy” rating and set a $40.00 price target on shares of Baker Hughes in a report on Friday, July 26th. Finally, Evercore ISI boosted their price target on shares of Baker Hughes from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $43.31.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $35.00, for a total value of $4,000,010.00. Following the completion of the sale, the chief executive officer now directly owns 502,053 shares of the company’s stock, valued at approximately $17,571,855. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is owned by corporate insiders.

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.