Mackenzie Financial Corp Buys 8,453 Shares of Baker Hughes Company $BKR

Mackenzie Financial Corp raised its stake in Baker Hughes Company (NASDAQ:BKR) by 2.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 365,958 shares of the company’s stock after buying an additional 8,453 shares during the period. Mackenzie Financial Corp’s holdings in Baker Hughes were worth $14,031,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Forum Financial Management LP grew its stake in Baker Hughes by 1.4% in the 2nd quarter. Forum Financial Management LP now owns 17,255 shares of the company’s stock valued at $662,000 after buying an additional 233 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its position in Baker Hughes by 4.2% during the second quarter. Steward Partners Investment Advisory LLC now owns 6,790 shares of the company’s stock worth $260,000 after acquiring an additional 275 shares during the last quarter. V Square Quantitative Management LLC lifted its position in Baker Hughes by 1.4% during the second quarter. V Square Quantitative Management LLC now owns 21,758 shares of the company’s stock worth $834,000 after acquiring an additional 292 shares during the last quarter. Moody National Bank Trust Division boosted its holdings in shares of Baker Hughes by 5.9% during the second quarter. Moody National Bank Trust Division now owns 5,351 shares of the company’s stock worth $205,000 after acquiring an additional 296 shares during the period. Finally, City Center Advisors LLC grew its position in shares of Baker Hughes by 3.6% in the second quarter. City Center Advisors LLC now owns 8,486 shares of the company’s stock valued at $325,000 after purchasing an additional 298 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Stock Performance

BKR opened at $50.16 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41. Baker Hughes Company has a 52-week low of $33.60 and a 52-week high of $50.92. The firm has a market cap of $49.50 billion, a P/E ratio of 17.30, a price-to-earnings-growth ratio of 2.06 and a beta of 1.03. The business’s fifty day moving average is $48.02 and its 200-day moving average is $43.83.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Friday, November 18th. The company reported $0.16 EPS for the quarter. The business had revenue of $5.09 billion during the quarter. Baker Hughes had a return on equity of 14.22% and a net margin of 10.43%. Sell-side analysts expect that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Tuesday, November 4th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Tuesday, November 4th. Baker Hughes’s dividend payout ratio is 31.72%.

Insider Activity at Baker Hughes

In related news, CAO Rebecca L. Charlton sold 1,000 shares of Baker Hughes stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total value of $50,000.00. Following the transaction, the chief accounting officer directly owned 11,772 shares of the company’s stock, valued at $588,600. This trade represents a 7.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Sreeganesh Ramaswamy sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total transaction of $1,250,000.00. Following the transaction, the executive vice president owned 40,520 shares of the company’s stock, valued at approximately $2,026,000. This represents a 38.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

BKR has been the subject of several research reports. Evercore ISI set a $54.00 price target on Baker Hughes in a report on Monday, October 27th. Stifel Nicolaus increased their price objective on Baker Hughes from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. HSBC lifted their target price on Baker Hughes from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, October 27th. Capital One Financial upped their price target on shares of Baker Hughes from $49.00 to $53.00 and gave the company an “overweight” rating in a research note on Tuesday, September 16th. Finally, BMO Capital Markets raised their price target on shares of Baker Hughes from $53.00 to $55.00 in a research report on Tuesday, November 11th. Twenty-three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $53.42.

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.