Louisiana State Employees Retirement System Cuts Stake in Baker Hughes (NASDAQ:BKR)

Louisiana State Employees Retirement System lessened its stake in shares of Baker Hughes (NASDAQ:BKR) by 4.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 125,500 shares of the company’s stock after selling 6,200 shares during the period. Louisiana State Employees Retirement System’s holdings in Baker Hughes were worth $5,148,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. National Pension Service boosted its stake in Baker Hughes by 6.4% during the 3rd quarter. National Pension Service now owns 1,362,973 shares of the company’s stock worth $49,271,000 after purchasing an additional 81,625 shares during the last quarter. Burney Co. lifted its stake in shares of Baker Hughes by 315.0% in the fourth quarter. Burney Co. now owns 138,788 shares of the company’s stock worth $5,693,000 after buying an additional 105,349 shares in the last quarter. Northstar Advisory Group LLC acquired a new position in Baker Hughes during the fourth quarter worth about $1,180,000. Artemis Investment Management LLP boosted its position in Baker Hughes by 29.4% during the fourth quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company’s stock worth $43,233,000 after acquiring an additional 239,773 shares during the last quarter. Finally, Czech National Bank raised its holdings in Baker Hughes by 6.0% in the 4th quarter. Czech National Bank now owns 214,549 shares of the company’s stock valued at $8,801,000 after acquiring an additional 12,178 shares during the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Stock Down 1.5 %

Shares of NASDAQ BKR opened at $46.41 on Thursday. Baker Hughes has a 52-week low of $28.63 and a 52-week high of $49.40. The business’s 50 day moving average is $43.56 and its two-hundred day moving average is $39.68. The firm has a market cap of $45.92 billion, a price-to-earnings ratio of 15.57, a PEG 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 (NASDAQ:BKR) last posted its quarterly earnings data on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. Research analysts predict that Baker Hughes will post 2.57 EPS for the current year.

Baker Hughes Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th will be paid a $0.23 dividend. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $0.92 annualized dividend and a dividend yield of 1.98%. Baker Hughes’s dividend payout ratio (DPR) is presently 28.19%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BKR. JPMorgan Chase & Co. boosted their target price on Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Piper Sandler boosted their price objective on Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. The Goldman Sachs Group raised their target price on Baker Hughes from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Benchmark reiterated a “buy” rating and set a $57.00 price target on shares of Baker Hughes in a report on Tuesday. Finally, Evercore ISI upped their price objective on shares of Baker Hughes from $46.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, January 15th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.06.

Insider Activity at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction on Monday, January 27th. The stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the transaction, the executive vice president now directly owns 173,302 shares in the company, valued at approximately $7,758,730.54. This trade represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.25% of the company’s stock.

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.