Baker Hughes (NASDAQ:BKR) Shares Acquired by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd grew its position in Baker Hughes (NASDAQ:BKR) by 11.3% in the fourth quarter, HoldingsChannel reports. The fund owned 8,842 shares of the company’s stock after acquiring an additional 897 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Baker Hughes were worth $301,000 at the end of the most recent reporting period.

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

Insider Activity

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

Baker Hughes Price Performance

Baker Hughes stock opened at $32.95 on Thursday. The firm has a market cap of $32.98 billion, a PE ratio of 18.25, a price-to-earnings-growth ratio of 0.62 and a beta of 1.42. Baker Hughes has a 52-week low of $26.81 and a 52-week high of $37.58. The company has a quick ratio of 0.86, a current ratio of 1.25 and a debt-to-equity ratio of 0.38. The company’s 50 day moving average is $31.89 and its two-hundred day moving average is $32.55.

Baker Hughes (NASDAQ:BKR) last released its earnings results 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. The company had revenue of $6.42 billion for the quarter, compared to analyst estimates of $6.37 billion. Baker Hughes had a net margin of 6.95% and a return on equity of 11.45%. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.28 EPS. On average, research analysts expect that Baker Hughes will post 2.07 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

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

Wall Street Analysts Forecast Growth

BKR has been the subject of several research reports. Morgan Stanley upped their price objective on shares of Baker Hughes from $40.00 to $43.00 in a research note on Tuesday. TD Cowen upped their price objective on shares of Baker Hughes from $46.00 to $49.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Benchmark reaffirmed a “buy” rating and set a $40.00 price objective on shares of Baker Hughes in a research note on Wednesday. Barclays dropped their price target on shares of Baker Hughes from $43.00 to $42.00 and set an “overweight” rating for the company in a research note on Friday, January 26th. Finally, The Goldman Sachs Group increased their price target on shares of Baker Hughes from $36.00 to $38.00 in a research note on Tuesday. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $40.94.

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.