Baker Hughes (NASDAQ:BKR) Shares Sold by Everence Capital Management Inc.

Everence Capital Management Inc. decreased its holdings in Baker Hughes (NASDAQ:BKR) by 52.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,280 shares of the company’s stock after selling 82,700 shares during the quarter. Everence Capital Management Inc.’s holdings in Baker Hughes were worth $3,129,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. National Pension Service lifted its stake in Baker Hughes by 6.4% during the 3rd quarter. National Pension Service now owns 1,362,973 shares of the company’s stock valued at $49,271,000 after acquiring an additional 81,625 shares during the period. Hixon Zuercher LLC purchased a new stake in shares of Baker Hughes in the third quarter worth about $1,980,000. Banque Cantonale Vaudoise grew its holdings in Baker Hughes by 76.1% during the third quarter. Banque Cantonale Vaudoise now owns 122,661 shares of the company’s stock worth $4,434,000 after acquiring an additional 53,006 shares during the period. AQR Capital Management LLC lifted its holdings in Baker Hughes by 7.6% in the second quarter. AQR Capital Management LLC now owns 6,424,915 shares of the company’s stock valued at $223,523,000 after acquiring an additional 455,307 shares during the period. Finally, National Bank of Canada FI lifted its stake in shares of Baker Hughes by 60.3% in the 3rd quarter. National Bank of Canada FI now owns 1,270,165 shares of the company’s stock valued at $45,916,000 after purchasing an additional 478,009 shares during the period. 92.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Citigroup upped their price target on shares of Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. UBS Group decreased their target price on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. Benchmark restated a “buy” rating and issued a $42.00 price target on shares of Baker Hughes in a research report on Thursday, October 24th. Wells Fargo & Company lifted their price objective on Baker Hughes from $42.00 to $49.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, Barclays upped their target price on Baker Hughes from $46.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $47.00.

Baker Hughes Stock Up 1.7 %

BKR stock traded up $0.69 during midday trading on Friday, hitting $42.25. The company’s stock had a trading volume of 1,636,449 shares, compared to its average volume of 3,475,286. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $45.17. The firm has a 50-day simple moving average of $41.61 and a 200-day simple moving average of $37.52. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $41.81 billion, a P/E ratio of 18.95, a PEG ratio of 0.72 and a beta of 1.40.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.61 by $0.06. The firm had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $7.21 billion. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. Baker Hughes’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.42 EPS. As a group, equities analysts forecast that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were issued a $0.21 dividend. The ex-dividend date was Monday, November 4th. This represents a $0.84 annualized dividend and a yield of 1.99%. Baker Hughes’s dividend payout ratio (DPR) is 37.67%.

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.