Cibc World Market Inc. Grows Holdings in Baker Hughes (NASDAQ:BKR)

Cibc World Market Inc. increased its stake in Baker Hughes (NASDAQ:BKR) by 6.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 465,338 shares of the company’s stock after acquiring an additional 26,177 shares during the period. Cibc World Market Inc.’s holdings in Baker Hughes were worth $19,088,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BKR. Bridges Investment Management Inc. boosted its holdings in shares of Baker Hughes by 3.1% in the 3rd quarter. Bridges Investment Management Inc. now owns 9,203 shares of the company’s stock worth $333,000 after purchasing an additional 273 shares in the last quarter. 180 Wealth Advisors LLC grew its position in Baker Hughes by 1.3% during the fourth quarter. 180 Wealth Advisors LLC now owns 22,506 shares of the company’s stock valued at $923,000 after acquiring an additional 295 shares during the last quarter. Graypoint LLC raised its stake in shares of Baker Hughes by 3.0% during the third quarter. Graypoint LLC now owns 10,288 shares of the company’s stock worth $372,000 after acquiring an additional 301 shares in the last quarter. First Trust Direct Indexing L.P. lifted its holdings in shares of Baker Hughes by 1.4% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 29,841 shares of the company’s stock worth $1,079,000 after acquiring an additional 398 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its stake in shares of Baker Hughes by 4.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 9,027 shares of the company’s stock valued at $326,000 after purchasing an additional 401 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Trading Up 3.5 %

BKR opened at $46.18 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $47.60. The stock has a market cap of $45.70 billion, a PE ratio of 20.71, a PEG ratio of 0.83 and a beta of 1.39. The business has a 50 day moving average of $43.00 and a 200-day moving average of $39.00.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Thursday, January 30th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.63 by $0.07. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. Equities research analysts predict that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th will be paid a dividend of $0.23 per share. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date is Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.99%. Baker Hughes’s dividend payout ratio (DPR) is currently 37.67%.

Analysts Set New Price Targets

BKR has been the subject of several recent research reports. TD Cowen lowered their price target on shares of Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Wells Fargo & Company increased their target price on Baker Hughes from $42.00 to $49.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Benchmark reaffirmed a “buy” rating and issued a $42.00 price target on shares of Baker Hughes in a research note on Thursday, October 24th. Jefferies Financial Group increased their price objective on Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Finally, Piper Sandler began coverage on shares of Baker Hughes in a research note on Thursday, December 19th. They issued an “overweight” rating and a $53.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $48.06.

Insider Activity

In other news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the transaction, the executive vice president now owns 173,302 shares of the company’s stock, valued at $7,758,730.54. The trade was a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.25% of the company’s stock.

Baker Hughes Company 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.