Stephens Investment Management Group LLC Has $16.40 Million Stake in Baker Hughes (NASDAQ:BKR)

Stephens Investment Management Group LLC cut its holdings in shares of Baker Hughes (NASDAQ:BKR) by 0.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 399,757 shares of the company’s stock after selling 846 shares during the quarter. Stephens Investment Management Group LLC’s holdings in Baker Hughes were worth $16,398,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Bridges Investment Management Inc. increased its holdings in shares of Baker Hughes by 3.1% in the third quarter. Bridges Investment Management Inc. now owns 9,203 shares of the company’s stock valued at $333,000 after purchasing an additional 273 shares during the last quarter. 180 Wealth Advisors LLC grew its stake in Baker Hughes by 1.3% in the 4th quarter. 180 Wealth Advisors LLC now owns 22,506 shares of the company’s stock valued at $923,000 after buying an additional 295 shares during the last quarter. Graypoint LLC grew its stake in Baker Hughes by 3.0% in the 3rd quarter. Graypoint LLC now owns 10,288 shares of the company’s stock valued at $372,000 after buying an additional 301 shares during the last quarter. Bleakley Financial Group LLC raised its holdings in Baker Hughes by 1.8% in the 4th quarter. Bleakley Financial Group LLC now owns 20,984 shares of the company’s stock valued at $861,000 after acquiring an additional 380 shares during the period. Finally, First Trust Direct Indexing L.P. lifted its position in Baker Hughes by 1.4% during the third quarter. First Trust Direct Indexing L.P. now owns 29,841 shares of the company’s stock worth $1,079,000 after acquiring an additional 398 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Analysts Set New Price Targets

BKR has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their target price on Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Susquehanna increased their price objective on Baker Hughes from $53.00 to $55.00 and gave the stock a “positive” rating in a research report on Monday, February 3rd. Citigroup lifted their target price on Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Argus upgraded shares of Baker Hughes from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Finally, Wells Fargo & Company lifted their price objective on shares of Baker Hughes from $49.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.18.

Insiders Place Their Bets

In other news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $44.77, for a total transaction of $358,160.00. Following the sale, the executive vice president now directly owns 173,302 shares of the company’s stock, valued at approximately $7,758,730.54. This trade represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.25% of the company’s stock.

Baker Hughes Price Performance

Shares of BKR stock opened at $46.20 on Monday. The business has a fifty day simple moving average of $43.42 and a 200 day simple moving average of $39.50. The company has a market cap of $45.72 billion, a P/E ratio of 15.50, a P/E/G ratio of 2.07 and a beta of 1.39. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. Baker Hughes has a twelve month low of $28.63 and a twelve month high of $49.40.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. On average, sell-side analysts forecast that Baker Hughes will post 2.57 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th will be given a $0.23 dividend. The ex-dividend date is Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.99%. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s dividend payout ratio (DPR) is currently 28.19%.

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.