Cidel Asset Management Inc. Has $312,000 Stock Holdings in Baker Hughes (NASDAQ:BKR)

Cidel Asset Management Inc. decreased its position in Baker Hughes (NASDAQ:BKR) by 9.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 7,601 shares of the company’s stock after selling 791 shares during the period. Cidel Asset Management Inc.’s holdings in Baker Hughes were worth $312,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in Baker Hughes during the 3rd quarter worth approximately $30,000. True Wealth Design LLC increased its position in shares of Baker Hughes by 2,181.6% during the third quarter. True Wealth Design LLC now owns 867 shares of the company’s stock worth $31,000 after acquiring an additional 829 shares in the last quarter. Continuum Advisory LLC raised its holdings in shares of Baker Hughes by 442.2% during the third quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock worth $35,000 after acquiring an additional 796 shares during the period. Eastern Bank lifted its position in Baker Hughes by 598.4% in the 4th quarter. Eastern Bank now owns 1,739 shares of the company’s stock valued at $71,000 after acquiring an additional 1,490 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in Baker Hughes in the 3rd quarter worth $103,000. Institutional investors own 92.06% of the company’s stock.

Insiders Place Their Bets

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 value of $358,160.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.25% of the company’s stock.

Baker Hughes Stock Down 1.7 %

Shares of NASDAQ BKR opened at $46.20 on Friday. The stock has a market capitalization of $45.72 billion, a P/E ratio of 15.50, a PEG ratio of 2.07 and a beta of 1.39. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. Baker Hughes has a one year low of $28.63 and a one year high of $49.40. The firm’s 50 day simple moving average is $43.42 and its two-hundred day simple moving average is $39.47.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, topping 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%. As a group, analysts expect that Baker Hughes will post 2.57 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th will be given a dividend of $0.23 per share. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Tuesday, February 11th. Baker Hughes’s payout ratio is presently 28.19%.

Analyst Ratings Changes

A number of brokerages have recently commented on BKR. The Goldman Sachs Group boosted their price objective 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. Evercore ISI increased their price objective on shares of Baker Hughes from $46.00 to $52.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 15th. Benchmark reaffirmed a “buy” rating and issued a $42.00 target price on shares of Baker Hughes in a research report on Thursday, October 24th. Piper Sandler increased their price target on Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Citigroup boosted their price target on Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Two research 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.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $50.18.

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.