Magnetar Financial LLC Takes $234,000 Position in Baker Hughes Company $BKR

Magnetar Financial LLC acquired a new position in Baker Hughes Company (NASDAQ:BKR) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 6,114 shares of the company’s stock, valued at approximately $234,000.

A number of other institutional investors also recently bought and sold shares of the company. Nuveen LLC bought a new stake in shares of Baker Hughes during the 1st quarter valued at about $404,385,000. 1832 Asset Management L.P. bought a new stake in Baker Hughes during the first quarter valued at approximately $70,685,000. Strs Ohio purchased a new stake in Baker Hughes during the first quarter valued at approximately $60,490,000. AQR Capital Management LLC raised its position in Baker Hughes by 27.8% in the first quarter. AQR Capital Management LLC now owns 5,457,164 shares of the company’s stock worth $234,958,000 after acquiring an additional 1,185,456 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Baker Hughes by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 123,291,916 shares of the company’s stock worth $4,727,012,000 after acquiring an additional 1,173,700 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Performance

NASDAQ BKR opened at $49.53 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33. Baker Hughes Company has a twelve month low of $33.60 and a twelve month high of $50.92. The business has a 50-day moving average price of $47.87 and a 200-day moving average price of $43.54. The firm has a market cap of $48.87 billion, a price-to-earnings ratio of 17.08, a price-to-earnings-growth ratio of 2.06 and a beta of 1.03.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Friday, November 18th. The company reported $0.16 EPS for the quarter. Baker Hughes had a return on equity of 14.22% and a net margin of 10.43%.The company had revenue of $5.09 billion for the quarter. As a group, equities research analysts predict that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Tuesday, November 4th were given a dividend of $0.23 per share. The ex-dividend date was Tuesday, November 4th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.9%. Baker Hughes’s dividend payout ratio is currently 31.72%.

Wall Street Analysts Forecast Growth

BKR has been the subject of several analyst reports. Susquehanna upped their price objective on Baker Hughes from $52.00 to $56.00 and gave the stock a “positive” rating in a research note on Thursday, October 2nd. Royal Bank Of Canada upped their price target on Baker Hughes from $50.00 to $54.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. JPMorgan Chase & Co. raised their price objective on Baker Hughes from $52.00 to $53.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 30th. BMO Capital Markets boosted their price objective on Baker Hughes from $53.00 to $55.00 in a research note on Tuesday, November 11th. Finally, UBS Group increased their target price on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a “neutral” rating in a report on Monday, October 6th. Twenty-three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Baker Hughes currently has an average rating of “Moderate Buy” and an average price target of $53.42.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, EVP Sreeganesh Ramaswamy sold 25,000 shares of Baker Hughes stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total value of $1,250,000.00. Following the sale, the executive vice president directly owned 40,520 shares in the company, valued at approximately $2,026,000. The trade was a 38.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Rebecca L. Charlton sold 1,000 shares of the business’s stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total transaction of $50,000.00. Following the completion of the sale, the chief accounting officer owned 11,772 shares in the company, valued at approximately $588,600. The trade was a 7.83% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.27% 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.