Bokf Na Has $8.98 Million Stock Position in Baker Hughes (NASDAQ:BKR)

Bokf Na lessened its holdings in shares of Baker Hughes (NASDAQ:BKR) by 35.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 268,535 shares of the company’s stock after selling 148,759 shares during the period. Bokf Na’s holdings in Baker Hughes were worth $8,980,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of BKR. Raymond James & Associates lifted its holdings in shares of Baker Hughes by 13.8% during the fourth quarter. Raymond James & Associates now owns 466,769 shares of the company’s stock worth $15,954,000 after purchasing an additional 56,707 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of Baker Hughes by 26.1% during the fourth quarter. Pacer Advisors Inc. now owns 143,762 shares of the company’s stock worth $4,914,000 after purchasing an additional 29,763 shares during the period. Kingswood Wealth Advisors LLC acquired a new position in shares of Baker Hughes during the fourth quarter worth $377,000. Blue Trust Inc. raised its stake in Baker Hughes by 15.5% during the fourth quarter. Blue Trust Inc. now owns 2,432 shares of the company’s stock worth $85,000 after buying an additional 327 shares during the last quarter. Finally, ICICI Prudential Asset Management Co Ltd raised its stake in Baker Hughes by 8.7% during the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 9,766 shares of the company’s stock worth $334,000 after buying an additional 782 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Insiders Place Their Bets

In other Baker Hughes news, EVP Maria C. Borras sold 55,980 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $32.00, for a total value of $1,791,360.00. Following the completion of the sale, the executive vice president now directly owns 92,035 shares of the company’s stock, valued at approximately $2,945,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is currently owned by insiders.

Baker Hughes Stock Up 5.8 %

Shares of BKR traded up $2.07 on Friday, reaching $37.65. The company’s stock had a trading volume of 10,250,156 shares, compared to its average volume of 5,054,799. The company has a current ratio of 1.25, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $37.78. The stock has a market capitalization of $37.57 billion, a PE ratio of 21.03, a PEG ratio of 0.65 and a beta of 1.41. The firm has a fifty day moving average of $33.64 and a 200-day moving average of $32.24.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Thursday, July 25th. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.08. Baker Hughes had a net margin of 7.37% and a return on equity of 12.49%. The company had revenue of $7.10 billion for the quarter, compared to analyst estimates of $6.81 billion. During the same quarter in the prior year, the business posted $0.39 EPS. The firm’s revenue was up 12.4% compared to the same quarter last year. Equities analysts predict that Baker Hughes will post 2.11 EPS for the current year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Tuesday, August 6th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend is Tuesday, August 6th. Baker Hughes’s payout ratio is 46.93%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Benchmark reissued a “buy” rating and set a $40.00 target price on shares of Baker Hughes in a research note on Friday. Jefferies Financial Group lifted their target price on shares of Baker Hughes from $45.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Bank of America lowered their target price on shares of Baker Hughes from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Morgan Stanley lifted their target price on shares of Baker Hughes from $40.00 to $43.00 in a research note on Tuesday, April 23rd. Finally, The Goldman Sachs Group upped their price objective on shares of Baker Hughes from $36.00 to $38.00 in a report on Tuesday, April 23rd. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.92.

Baker Hughes Company 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.