Rafferty Asset Management LLC Decreases Stock Holdings in Baker Hughes (NASDAQ:BKR)

Rafferty Asset Management LLC trimmed its position in shares of Baker Hughes (NASDAQ:BKR) by 2.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 546,988 shares of the company’s stock after selling 15,330 shares during the period. Rafferty Asset Management LLC’s holdings in Baker Hughes were worth $22,437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Dynasty Wealth Management LLC raised its holdings in Baker Hughes by 2.7% during the 4th quarter. Dynasty Wealth Management LLC now owns 7,904 shares of the company’s stock valued at $324,000 after buying an additional 207 shares during the period. Larson Financial Group LLC raised its holdings in Baker Hughes by 41.2% during the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock valued at $30,000 after buying an additional 216 shares during the period. Alpine Woods Capital Investors LLC raised its holdings in Baker Hughes by 0.7% during the 4th quarter. Alpine Woods Capital Investors LLC now owns 40,467 shares of the company’s stock valued at $1,660,000 after buying an additional 267 shares during the period. Cromwell Holdings LLC raised its holdings in Baker Hughes by 9.3% during the 4th quarter. Cromwell Holdings LLC now owns 3,169 shares of the company’s stock valued at $130,000 after buying an additional 269 shares during the period. Finally, Commerce Bank raised its holdings in Baker Hughes by 1.0% during the 4th quarter. Commerce Bank now owns 31,075 shares of the company’s stock valued at $1,275,000 after buying an additional 300 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Trading Down 0.3%

Baker Hughes stock opened at $37.73 on Friday. The stock has a 50-day moving average of $39.39 and a two-hundred day moving average of $42.02. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. Baker Hughes has a one year low of $30.93 and a one year high of $49.40. The stock has a market cap of $37.38 billion, a PE ratio of 12.66, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. The company had revenue of $6.43 billion during the quarter, compared to analysts’ expectations of $6.54 billion. On average, research analysts anticipate that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date is Tuesday, May 6th. Baker Hughes’s dividend payout ratio (DPR) is presently 31.40%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. TD Securities decreased their price target on Baker Hughes from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Citigroup cut their price objective on Baker Hughes from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Wells Fargo & Company upped their price objective on Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. upped their price objective on Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, TD Cowen cut their price objective on Baker Hughes from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $49.11.

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.