GF Fund Management CO. LTD. Raises Position in Baker Hughes Company (NASDAQ:BKR)

GF Fund Management CO. LTD. raised its position in shares of Baker Hughes Company (NASDAQ:BKR) by 1.8% during the 1st quarter, HoldingsChannel.com reports. The fund owned 190,930 shares of the company’s stock after acquiring an additional 3,393 shares during the period. GF Fund Management CO. LTD.’s holdings in Baker Hughes were worth $8,391,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. IFP Advisors Inc grew its stake in Baker Hughes by 78.7% in the fourth quarter. IFP Advisors Inc now owns 1,297 shares of the company’s stock worth $53,000 after purchasing an additional 571 shares during the period. US Bancorp DE grew its position in shares of Baker Hughes by 2.1% in the 4th quarter. US Bancorp DE now owns 77,225 shares of the company’s stock worth $3,168,000 after buying an additional 1,573 shares during the period. Jones Financial Companies Lllp increased its stake in shares of Baker Hughes by 144.6% in the 4th quarter. Jones Financial Companies Lllp now owns 9,069 shares of the company’s stock worth $372,000 after acquiring an additional 5,362 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Baker Hughes during the 4th quarter valued at about $30,000. Finally, Fidelis Capital Partners LLC bought a new stake in Baker Hughes during the fourth quarter worth about $175,000. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Performance

Shares of BKR opened at $39.62 on Friday. The firm has a market capitalization of $39.25 billion, a P/E ratio of 13.52, a PEG ratio of 4.24 and a beta of 0.91. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.93. Baker Hughes Company has a one year low of $32.25 and a one year high of $49.40. The business has a fifty day moving average of $37.64 and a 200 day moving average of $41.02.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. Baker Hughes had a return on equity of 14.70% and a net margin of 10.51%. The business had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.54 billion. As a group, sell-side analysts anticipate that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend was Tuesday, May 6th. Baker Hughes’s dividend payout ratio is presently 31.40%.

Analyst Ratings Changes

BKR has been the subject of a number of analyst reports. Royal Bank Of Canada decreased their target price 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. The Goldman Sachs Group cut their price target on Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a research note on Wednesday. Stifel Nicolaus set a $50.00 price objective on Baker Hughes and gave the company a “buy” rating in a research note on Thursday, April 24th. Piper Sandler cut their target price on Baker Hughes from $53.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Finally, TD Securities lowered their price target on Baker Hughes from $50.00 to $49.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.50.

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.