Baker Hughes (NASDAQ:BKR) Shares Purchased by Pointe Capital Management LLC

Pointe Capital Management LLC raised its holdings in Baker Hughes (NASDAQ:BKR) by 8.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,486 shares of the company’s stock after buying an additional 2,176 shares during the period. Pointe Capital Management LLC’s holdings in Baker Hughes were worth $1,210,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Hotchkis & Wiley Capital Management LLC grew its position in shares of Baker Hughes by 34.7% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock valued at $394,775,000 after buying an additional 2,811,940 shares during the last quarter. Congress Asset Management Co. acquired a new position in Baker Hughes in the fourth quarter valued at $107,155,000. Yaupon Capital Management LP purchased a new position in shares of Baker Hughes during the third quarter worth about $47,296,000. Eagle Asset Management Inc. grew its holdings in shares of Baker Hughes by 18.6% during the third quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company’s stock worth $198,326,000 after purchasing an additional 860,219 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Baker Hughes by 436.0% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,004,647 shares of the company’s stock worth $36,318,000 after purchasing an additional 817,227 shares in the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Stock Down 1.3 %

Baker Hughes stock opened at $44.04 on Wednesday. The stock’s 50 day moving average price is $44.38 and its 200 day moving average price is $40.38. Baker Hughes has a 1-year low of $29.19 and a 1-year high of $49.40. The company has a market cap of $43.60 billion, a PE ratio of 14.78, a price-to-earnings-growth ratio of 2.00 and a beta of 1.39. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. On average, sell-side analysts predict that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were issued a dividend of $0.23 per share. The ex-dividend date was Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a yield of 2.09%. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s payout ratio is currently 30.87%.

Insiders Place Their Bets

In related news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 173,302 shares of the company’s stock, valued at approximately $7,758,730.54. This represents a 4.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

BKR has been the topic of a number of research reports. Citigroup raised their price target on Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Wells Fargo & Company raised their target price on shares of Baker Hughes from $49.00 to $54.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Royal Bank of Canada upped their price target on shares of Baker Hughes from $49.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. The Goldman Sachs Group increased their price target on shares of Baker Hughes from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Finally, Stifel Nicolaus lifted their price objective on shares of Baker Hughes from $48.00 to $54.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.06.

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.