Kornitzer Capital Management Inc. KS Has $5.81 Million Stake in Baker Hughes Company $BKR

Kornitzer Capital Management Inc. KS decreased its stake in Baker Hughes Company (NASDAQ:BKR) by 3.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 151,547 shares of the company’s stock after selling 5,104 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Baker Hughes were worth $5,810,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Envestnet Asset Management Inc. grew its holdings in shares of Baker Hughes by 2.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 621,468 shares of the company’s stock valued at $27,314,000 after acquiring an additional 17,035 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of Baker Hughes by 51.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 24,455 shares of the company’s stock valued at $1,075,000 after acquiring an additional 8,351 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Baker Hughes by 7.2% in the 1st quarter. Principal Financial Group Inc. now owns 1,239,175 shares of the company’s stock valued at $54,462,000 after acquiring an additional 82,706 shares in the last quarter. Stack Financial Management Inc bought a new position in shares of Baker Hughes in the 1st quarter valued at about $12,890,000. Finally, DAVENPORT & Co LLC bought a new position in Baker Hughes during the first quarter worth about $233,000. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Down 3.3%

Shares of BKR opened at $47.30 on Friday. Baker Hughes Company has a one year low of $33.60 and a one year high of $50.92. The company has a market cap of $46.63 billion, a P/E ratio of 16.31, a P/E/G ratio of 2.04 and a beta of 0.99. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00. The firm has a 50 day simple moving average of $46.53 and a two-hundred day simple moving average of $41.73.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Friday, November 18th. The company reported $0.16 EPS for the quarter. Baker Hughes had a net margin of 10.43% and a return on equity of 14.41%. The business had revenue of $5.09 billion during the quarter. Research analysts forecast that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Tuesday, November 4th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Tuesday, November 4th. Baker Hughes’s payout ratio is presently 31.72%.

Insiders Place Their Bets

In other Baker Hughes news, EVP Sreeganesh Ramaswamy sold 25,000 shares of the business’s stock in a transaction 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 sale, the executive vice president owned 40,520 shares of the company’s stock, valued at approximately $2,026,000. The trade was a 38.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Rebecca L. Charlton sold 1,000 shares of the business’s stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total transaction of $50,000.00. Following the sale, the chief accounting officer directly owned 11,772 shares in the company, valued at approximately $588,600. The trade was a 7.83% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BKR shares. Bank of America lifted their price target on Baker Hughes from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, October 14th. Stifel Nicolaus reduced their price objective on Baker Hughes from $50.00 to $49.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. Weiss Ratings restated a “buy (b)” rating on shares of Baker Hughes in a report on Friday. Melius started coverage on Baker Hughes in a report on Wednesday, August 20th. They set a “buy” rating and a $60.00 price objective for the company. Finally, Melius Research started coverage on Baker Hughes in a report on Wednesday, August 20th. They set a “buy” rating and a $60.00 price objective for the company. Twenty-one investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Baker Hughes has a consensus rating of “Moderate Buy” and a consensus target price of $52.91.

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.