Harvest Fund Management Co. Ltd Has $301,000 Stock Holdings in Baker Hughes (NASDAQ:BKR)

Harvest Fund Management Co. Ltd raised its stake in Baker Hughes (NASDAQ:BKR) by 11.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,842 shares of the company’s stock after acquiring an additional 897 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Baker Hughes were worth $301,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of BKR. Bruce G. Allen Investments LLC bought a new position in shares of Baker Hughes in the 4th quarter valued at $33,000. OFI Invest Asset Management bought a new stake in Baker Hughes during the 3rd quarter worth $36,000. Rational Advisors LLC grew its position in Baker Hughes by 44.0% during the 3rd quarter. Rational Advisors LLC now owns 1,250 shares of the company’s stock worth $44,000 after acquiring an additional 382 shares during the last quarter. Clearstead Advisors LLC grew its position in Baker Hughes by 38.2% during the 3rd quarter. Clearstead Advisors LLC now owns 1,523 shares of the company’s stock worth $54,000 after acquiring an additional 421 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new stake in Baker Hughes during the 3rd quarter worth $76,000. Institutional investors own 92.06% of the company’s stock.

Analyst Ratings Changes

BKR has been the topic of a number of analyst reports. Susquehanna reiterated a “positive” rating and issued a $40.00 price target on shares of Baker Hughes in a research report on Monday, April 8th. TD Cowen upped their price target on Baker Hughes from $46.00 to $49.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Wolfe Research downgraded Baker Hughes from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 29th. Citigroup dropped their price objective on Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, January 26th. Finally, The Goldman Sachs Group boosted their price objective on Baker Hughes from $36.00 to $38.00 in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $40.94.

Baker Hughes Price Performance

Shares of NASDAQ BKR opened at $32.95 on Thursday. The firm has a market cap of $32.98 billion, a price-to-earnings ratio of 18.25, a price-to-earnings-growth ratio of 0.62 and a beta of 1.42. The stock has a fifty day simple moving average of $31.89 and a two-hundred day simple moving average of $32.55. Baker Hughes has a 1-year low of $26.81 and a 1-year high of $37.58. The company has a current ratio of 1.25, a quick ratio of 0.86 and a debt-to-equity ratio of 0.38.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. Baker Hughes had a return on equity of 11.45% and a net margin of 6.95%. The company had revenue of $6.42 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter last year, the business posted $0.28 earnings per share. The firm’s revenue was up 12.3% compared to the same quarter last year. Analysts anticipate that Baker Hughes will post 2.07 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $0.84 dividend on an annualized basis and a yield of 2.55%. Baker Hughes’s payout ratio is 46.93%.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, SVP James E. Apostolides sold 5,000 shares of the firm’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $33.88, for a total transaction of $169,400.00. Following the sale, the senior vice president now owns 14,998 shares in the company, valued at $508,132.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP James E. Apostolides sold 10,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total value of $294,400.00. Following the completion of the sale, the senior vice president now owns 14,451 shares of the company’s stock, valued at approximately $425,437.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP James E. Apostolides sold 5,000 shares of the business’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $33.88, for a total value of $169,400.00. Following the completion of the sale, the senior vice president now directly owns 14,998 shares of the company’s stock, valued at approximately $508,132.24. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

About Baker Hughes

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.