Victory Capital Management Inc. Trims Stake in Baker Hughes (NASDAQ:BKR)

Victory Capital Management Inc. cut its position in Baker Hughes (NASDAQ:BKR) by 1.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,050,573 shares of the company’s stock after selling 192,500 shares during the period. Baker Hughes comprises 0.6% of Victory Capital Management Inc.’s portfolio, making the stock its 16th largest holding. Victory Capital Management Inc. owned approximately 1.42% of Baker Hughes worth $576,355,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JFS Wealth Advisors LLC increased its stake in shares of Baker Hughes by 135.9% in the fourth quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock worth $27,000 after purchasing an additional 386 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Baker Hughes in the third quarter worth $30,000. SBI Securities Co. Ltd. purchased a new stake in shares of Baker Hughes in the fourth quarter worth $30,000. True Wealth Design LLC increased its stake in shares of Baker Hughes by 2,181.6% in the third quarter. True Wealth Design LLC now owns 867 shares of the company’s stock worth $31,000 after purchasing an additional 829 shares in the last quarter. Finally, Groupama Asset Managment grew its stake in Baker Hughes by 1,045.1% during the third quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock valued at $32,000 after acquiring an additional 811,711 shares in the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BKR. Atb Cap Markets cut shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Stifel Nicolaus raised their target price 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. Royal Bank of Canada raised their target price on shares of Baker Hughes from $49.00 to $53.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Susquehanna raised their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the company a “positive” rating in a research note on Monday, February 3rd. Finally, Bank of America increased their price objective on shares of Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.06.

Baker Hughes Trading Down 2.2 %

BKR stock opened at $43.60 on Tuesday. The company has a market capitalization of $43.17 billion, a PE ratio of 14.63, a P/E/G ratio of 2.00 and a beta of 1.39. Baker Hughes has a 12 month low of $29.30 and a 12 month high of $49.40. The firm’s 50-day moving average is $44.68 and its 200 day moving average is $40.63. 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 posted its quarterly earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, topping the consensus estimate 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, research analysts anticipate that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend was Tuesday, February 11th. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s dividend payout ratio (DPR) is currently 30.87%.

Insider Buying and Selling at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $44.77, for a total value of $358,160.00. Following the transaction, the executive vice president now owns 173,302 shares of the company’s stock, valued at $7,758,730.54. The trade was a 4.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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.