ProShare Advisors LLC Acquires 163,807 Shares of Baker Hughes (NASDAQ:BKR)

ProShare Advisors LLC increased its holdings in Baker Hughes (NASDAQ:BKR) by 14.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,316,962 shares of the company’s stock after purchasing an additional 163,807 shares during the quarter. ProShare Advisors LLC’s holdings in Baker Hughes were worth $54,022,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in Baker Hughes in the fourth quarter valued at $829,092,000. Raymond James Financial Inc. purchased a new position in Baker Hughes in the 4th quarter valued at about $291,289,000. Neuberger Berman Group LLC lifted its stake in Baker Hughes by 2,527.6% in the 4th quarter. Neuberger Berman Group LLC now owns 3,319,418 shares of the company’s stock valued at $136,158,000 after buying an additional 3,193,089 shares in the last quarter. Congress Asset Management Co. purchased a new position in Baker Hughes in the 4th quarter worth approximately $107,155,000. Finally, FMR LLC lifted its stake in Baker Hughes by 12.5% in the 4th quarter. FMR LLC now owns 15,702,057 shares of the company’s stock worth $644,098,000 after purchasing an additional 1,744,225 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Down 0.3%

BKR stock opened at $37.73 on Friday. Baker Hughes has a 52-week low of $30.93 and a 52-week high of $49.40. The company’s 50 day simple moving average is $39.39 and its 200-day simple moving average is $42.02. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. The firm has a market capitalization of $37.38 billion, a P/E ratio of 12.66, a P/E/G ratio of 2.00 and a beta of 0.96.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. The company had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.54 billion. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. As a group, equities research analysts anticipate that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Announces Dividend

The business 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 $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend is Tuesday, May 6th. Baker Hughes’s dividend payout ratio (DPR) is presently 31.40%.

Analyst Upgrades and Downgrades

BKR has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price target on shares of Baker Hughes from $49.00 to $54.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Royal Bank of Canada dropped their price target on shares of Baker Hughes from $50.00 to $46.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. TD Cowen lowered their target price on shares of Baker Hughes from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. JPMorgan Chase & Co. boosted their target price 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. Finally, Benchmark restated a “buy” rating and issued a $57.00 price objective on shares of Baker Hughes in a research note on Tuesday, February 11th. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Baker Hughes has a consensus rating of “Moderate Buy” and a consensus target price of $49.11.

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.