Picton Mahoney Asset Management Sells 8,997 Shares of Baker Hughes (NASDAQ:BKR)

Picton Mahoney Asset Management cut its stake in shares of Baker Hughes (NASDAQ:BKRFree Report) by 91.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 814 shares of the company’s stock after selling 8,997 shares during the quarter. Picton Mahoney Asset Management’s holdings in Baker Hughes were worth $33,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in BKR. Geode Capital Management LLC boosted its position in Baker Hughes by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 24,078,093 shares of the company’s stock worth $867,514,000 after buying an additional 123,172 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its position in 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 worth $394,775,000 after buying an additional 2,811,940 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Baker Hughes by 1.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,633,006 shares of the company’s stock worth $348,233,000 after buying an additional 145,537 shares during the period. Raymond James Financial Inc. acquired a new stake in Baker Hughes during the 4th quarter worth approximately $291,289,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Baker Hughes by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,086,903 shares of the company’s stock worth $290,705,000 after buying an additional 135,200 shares during the period. 92.06% of the stock is owned by institutional investors.

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 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 in the company, valued at $7,758,730.54. This represents a 4.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.25% of the stock is currently owned by company insiders.

Baker Hughes Stock Up 2.4 %

Baker Hughes stock opened at $43.88 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. Baker Hughes has a 12-month low of $30.93 and a 12-month high of $49.40. The firm’s fifty day moving average is $44.90 and its 200 day moving average is $41.15. The company has a market capitalization of $43.45 billion, a PE ratio of 14.72, a PEG ratio of 2.00 and a beta of 1.30.

Baker Hughes (NASDAQ:BKRGet Free Report) last announced its quarterly earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. As a group, sell-side analysts predict that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.10%. 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 payout ratio is 30.87%.

Wall Street Analyst Weigh In

Several research firms recently commented on BKR. Piper Sandler lifted their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Evercore ISI lifted their target price 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. Jefferies Financial Group boosted their price target on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. TD Cowen dropped their price target on shares of Baker Hughes from $53.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Finally, Stifel Nicolaus boosted their price target 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 investment 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $51.06.

Get Our Latest Stock Report on BKR

About Baker Hughes

(Free Report)

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.

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Institutional Ownership by Quarter for Baker Hughes (NASDAQ:BKR)

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