Everence Capital Management Inc. Has $4.62 Million Position in Baker Hughes (NASDAQ:BKR)

Everence Capital Management Inc. boosted its holdings in shares of Baker Hughes (NASDAQ:BKR) by 11.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 135,070 shares of the company’s stock after acquiring an additional 14,130 shares during the period. Everence Capital Management Inc.’s holdings in Baker Hughes were worth $4,617,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of BKR. Norges Bank acquired a new stake in Baker Hughes during the 4th quarter worth $195,343,000. FMR LLC grew its holdings in Baker Hughes by 16.8% during the 3rd quarter. FMR LLC now owns 16,078,162 shares of the company’s stock worth $567,881,000 after acquiring an additional 2,316,638 shares during the period. AQR Capital Management LLC grew its holdings in Baker Hughes by 846.7% during the 3rd quarter. AQR Capital Management LLC now owns 2,378,976 shares of the company’s stock worth $84,025,000 after acquiring an additional 2,127,675 shares during the period. Morgan Stanley grew its holdings in Baker Hughes by 27.2% during the 4th quarter. Morgan Stanley now owns 8,986,722 shares of the company’s stock worth $265,378,000 after acquiring an additional 1,919,760 shares during the period. Finally, Clearbridge Investments LLC acquired a new stake in Baker Hughes during the 1st quarter worth $69,329,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Insider Transactions at Baker Hughes

In other news, 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 transaction of $169,400.00. Following the transaction, the senior vice president now directly owns 14,998 shares in the company, valued at approximately $508,132.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, 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 transaction of $169,400.00. Following the transaction, the senior vice president now directly owns 14,998 shares in the company, valued at approximately $508,132.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $294,400.00. Following the transaction, the senior vice president now owns 14,451 shares in the company, valued at $425,437.44. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on BKR shares. Susquehanna reissued a “positive” rating and set a $40.00 price target on shares of Baker Hughes in a research report on Monday, April 8th. TD Cowen lifted their price target on shares of Baker Hughes from $46.00 to $49.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Royal Bank of Canada reissued an “outperform” rating and set a $39.00 price target on shares of Baker Hughes in a research report on Thursday, February 1st. Barclays reduced their price target on shares of Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a research report on Friday, January 26th. Finally, Citigroup reduced their price target on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, January 26th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $40.87.

Baker Hughes Stock Down 1.1 %

NASDAQ:BKR traded down $0.35 on Tuesday, hitting $32.10. 5,849,850 shares of the company’s stock were exchanged, compared to its average volume of 8,907,045. The firm has a 50-day moving average price of $31.44 and a 200-day moving average price of $32.62. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.25 and a quick ratio of 0.86. Baker Hughes has a 52 week low of $26.81 and a 52 week high of $37.58. The company has a market cap of $32.13 billion, a P/E ratio of 16.99, a price-to-earnings-growth ratio of 0.68 and a beta of 1.42.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Wednesday, January 24th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.47 by $0.04. Baker Hughes had a net margin of 7.62% and a return on equity of 10.63%. The firm had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $6.93 billion. During the same period in the previous year, the firm posted $0.38 EPS. The company’s revenue for the quarter was up 15.7% on a year-over-year basis. As a group, analysts expect that Baker Hughes will post 2.07 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Tuesday, February 13th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, February 12th. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 2.62%. Baker Hughes’s payout ratio is currently 43.98%.

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.