Guinness Asset Management LTD Sells 30,826 Shares of Baker Hughes (NASDAQ:BKR)

Guinness Asset Management LTD lowered its position in Baker Hughes (NASDAQ:BKR) by 13.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 204,428 shares of the company’s stock after selling 30,826 shares during the period. Guinness Asset Management LTD’s holdings in Baker Hughes were worth $8,378,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new stake in Baker Hughes in the third quarter valued at about $30,000. True Wealth Design LLC lifted its stake in Baker Hughes by 2,181.6% during 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 during the period. Groupama Asset Managment boosted its holdings 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 purchasing an additional 811,711 shares in the last quarter. Continuum Advisory LLC grew its stake in shares of Baker Hughes by 442.2% in the 3rd quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock valued at $35,000 after purchasing an additional 796 shares during the period. Finally, Quarry LP raised its holdings in shares of Baker Hughes by 81.1% in the 2nd quarter. Quarry LP now owns 1,594 shares of the company’s stock worth $56,000 after buying an additional 714 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Analysts Set New Price Targets

BKR has been the topic of several recent analyst reports. Benchmark reaffirmed a “buy” rating and issued a $42.00 price target on shares of Baker Hughes in a research note on Thursday, October 24th. TD Cowen reduced their target price on shares of Baker Hughes from $53.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Susquehanna increased their target price on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a “positive” rating in a research report on Thursday, October 24th. Atb Cap Markets lowered shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Finally, Jefferies Financial Group raised their price objective on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, Baker Hughes currently has a consensus rating of “Moderate Buy” and an average target price of $47.53.

Baker Hughes Price Performance

Shares of BKR stock opened at $46.54 on Monday. The firm has a market cap of $46.05 billion, a price-to-earnings ratio of 20.87, a PEG ratio of 0.79 and a beta of 1.39. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $47.47. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37. The stock has a 50-day moving average price of $42.74 and a 200 day moving average price of $38.36.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.61 by $0.06. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The company had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $7.21 billion. During the same quarter in the previous year, the company earned $0.42 EPS. Baker Hughes’s revenue was up 4.0% on a year-over-year basis. Research analysts expect that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.84 annualized dividend and a dividend yield of 1.80%. Baker Hughes’s dividend payout ratio is currently 37.67%.

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.