Y Intercept Hong Kong Ltd Makes New Investment in Baker Hughes (NASDAQ:BKR)

Y Intercept Hong Kong Ltd bought a new position in shares of Baker Hughes (NASDAQ:BKR) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 53,016 shares of the company’s stock, valued at approximately $2,175,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Creative Planning grew its position in shares of Baker Hughes by 12.3% in the third quarter. Creative Planning now owns 69,572 shares of the company’s stock valued at $2,515,000 after purchasing an additional 7,596 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Baker Hughes by 15.8% in the third quarter. Assenagon Asset Management S.A. now owns 40,838 shares of the company’s stock valued at $1,476,000 after purchasing an additional 5,570 shares during the last quarter. Lake Street Advisors Group LLC grew its position in shares of Baker Hughes by 8.6% in the third quarter. Lake Street Advisors Group LLC now owns 6,502 shares of the company’s stock valued at $235,000 after purchasing an additional 515 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Baker Hughes by 32.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 280,787 shares of the company’s stock valued at $10,150,000 after purchasing an additional 69,046 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Baker Hughes by 41.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 40,050 shares of the company’s stock valued at $1,448,000 after purchasing an additional 11,834 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of the stock in a transaction on Monday, January 27th. The shares were sold at an average price of $44.77, for a total value 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 represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Royal Bank of Canada increased their price target on shares of Baker Hughes from $49.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Susquehanna increased their price target on shares of Baker Hughes from $53.00 to $55.00 and gave the company a “positive” rating in a research report on Monday, February 3rd. Wells Fargo & Company increased their price target on shares of Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Citigroup upped their price objective on shares of Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Barclays upped their price objective on shares of Baker Hughes from $51.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $51.06.

Baker Hughes Stock Performance

NASDAQ:BKR opened at $44.62 on Tuesday. 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 company has a market cap of $44.18 billion, a P/E ratio of 14.97, a P/E/G ratio of 2.00 and a beta of 1.39. Baker Hughes has a fifty-two week low of $29.19 and a fifty-two week high of $49.40. The firm’s 50 day moving average is $44.33 and its two-hundred day moving average is $40.31.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) 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%. Analysts expect that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were given a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.92 annualized dividend and a dividend yield of 2.06%. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s dividend payout ratio is presently 30.87%.

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.