Baker Hughes (NASDAQ:BKR) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC lessened its stake in Baker Hughes (NASDAQ:BKR) by 61.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,707,639 shares of the company’s stock after selling 4,296,179 shares during the quarter. Clearbridge Investments LLC’s holdings in Baker Hughes were worth $111,067,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of BKR. Norges Bank bought a new stake in Baker Hughes during the fourth quarter valued at $829,092,000. Raymond James Financial Inc. acquired a new position in shares of Baker Hughes in the 4th quarter valued at about $291,289,000. Hotchkis & Wiley Capital Management LLC grew its position in shares of 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 valued at $394,775,000 after buying an additional 2,811,940 shares during the last quarter. Congress Asset Management Co. acquired a new stake in Baker Hughes during the fourth quarter worth about $107,155,000. Finally, Yaupon Capital Management LP bought a new position in Baker Hughes in the third quarter worth about $47,296,000. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Price Performance

NASDAQ BKR opened at $43.95 on Tuesday. Baker Hughes has a 1 year low of $30.93 and a 1 year high of $49.40. The business’s fifty day moving average is $44.76 and its two-hundred day moving average is $41.87. The stock has a market capitalization of $43.52 billion, a P/E ratio of 14.75, 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 released its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share 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, research analysts forecast that Baker Hughes will post 2.59 earnings per share for the current fiscal 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 $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend was Tuesday, February 11th. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s dividend payout ratio is 30.87%.

Insider Buying and Selling 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 transaction of $358,160.00. Following the transaction, the executive vice president now directly owns 173,302 shares of the company’s stock, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

BKR has been the topic of a number of research reports. 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. Benchmark reiterated a “buy” rating and issued a $57.00 target price on shares of Baker Hughes in a research note on Tuesday, February 11th. Evercore ISI upped their price target on shares of Baker Hughes from $46.00 to $52.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 15th. Royal Bank of Canada lifted their price objective 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. Finally, The Goldman Sachs Group upped their target price on shares of Baker Hughes from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, Baker Hughes has a consensus rating of “Moderate Buy” and a consensus target price of $51.00.

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.