Point72 Asia Singapore Pte. Ltd. Grows Stake in Baker Hughes (NASDAQ:BKR)

Point72 Asia Singapore Pte. Ltd. increased its position in Baker Hughes (NASDAQ:BKR) by 189.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 30,913 shares of the company’s stock after acquiring an additional 20,247 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Baker Hughes were worth $1,268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of BKR. JFS Wealth Advisors LLC boosted its position in Baker Hughes by 135.9% in the fourth quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock worth $27,000 after purchasing an additional 386 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Baker Hughes in the fourth quarter worth approximately $30,000. Larson Financial Group LLC grew its position in Baker Hughes by 41.2% during the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock valued at $30,000 after buying an additional 216 shares during the period. Kestra Investment Management LLC purchased a new stake in Baker Hughes during the fourth quarter valued at approximately $45,000. Finally, OFI Invest Asset Management bought a new position in Baker Hughes in the fourth quarter worth approximately $47,000. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Price Performance

BKR stock opened at $37.84 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. The company’s fifty day moving average price is $39.45 and its 200-day moving average price is $42.01. Baker Hughes has a one year low of $30.93 and a one year high of $49.40. The company has a market capitalization of $37.49 billion, a PE ratio of 12.70, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. The business had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.54 billion. On average, equities analysts anticipate that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend is Tuesday, May 6th. Baker Hughes’s dividend payout ratio is presently 31.40%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Barclays lowered their target price on Baker Hughes from $54.00 to $48.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Piper Sandler reduced their price target on Baker Hughes from $53.00 to $50.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. TD Securities lowered their price objective on Baker Hughes from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Finally, Royal Bank of Canada cut their price objective on Baker Hughes from $50.00 to $46.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. Two analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $49.11.

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.