Tocqueville Asset Management L.P. Increases Stock Position in Baker Hughes (NASDAQ:BKR)

Tocqueville Asset Management L.P. lifted its holdings in Baker Hughes (NASDAQ:BKR) by 7.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 87,393 shares of the company’s stock after purchasing an additional 5,975 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Baker Hughes were worth $3,585,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Strategic Financial Concepts LLC bought a new position in Baker Hughes during the fourth quarter valued at $640,000. Burney Co. lifted its holdings in shares of Baker Hughes by 315.0% in the 4th quarter. Burney Co. now owns 138,788 shares of the company’s stock worth $5,693,000 after buying an additional 105,349 shares during the period. Northstar Advisory Group LLC bought a new position in Baker Hughes during the 4th quarter worth about $1,180,000. Artemis Investment Management LLP boosted its stake in shares of Baker Hughes by 29.4% during the fourth quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company’s stock valued at $43,233,000 after purchasing an additional 239,773 shares in the last quarter. Finally, Czech National Bank increased its holdings in shares of Baker Hughes by 6.0% in the 4th quarter. Czech National Bank now owns 214,549 shares of the company’s stock valued at $8,801,000 after acquiring an additional 12,178 shares during the period. 92.06% of the stock is currently owned by institutional investors.

Baker Hughes Stock Down 0.4 %

Shares of BKR opened at $43.70 on Wednesday. The company has a market capitalization of $43.27 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 2.00 and a beta of 1.30. Baker Hughes has a 52 week low of $30.93 and a 52 week high of $49.40. The stock’s 50-day moving average price is $44.90 and its 200-day moving average price is $41.21. 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 announced its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, beating 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%. On average, sell-side analysts predict that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.11%. The ex-dividend date was Tuesday, February 11th. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s dividend payout ratio (DPR) is currently 30.87%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BKR. JPMorgan Chase & Co. upped their price objective on Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Benchmark reiterated a “buy” rating and issued a $57.00 price target on shares of Baker Hughes in a research note on Tuesday, February 11th. Jefferies Financial Group boosted their price target on Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Bank of America increased their price objective on shares of Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Finally, Stifel Nicolaus boosted their target price on shares of Baker Hughes from $48.00 to $54.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, Baker Hughes currently has a consensus rating of “Moderate Buy” and an average target price of $51.06.

Insider Buying and Selling at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $44.77, for a total transaction of $358,160.00. Following the completion of the transaction, the executive vice president now directly owns 173,302 shares of the company’s stock, valued at $7,758,730.54. This represents a 4.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.25% of the stock is owned by corporate insiders.

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.