STF Management LP Lowers Stake in Baker Hughes (NASDAQ:BKR)

STF Management LP cut its position in shares of Baker Hughes (NASDAQ:BKR) by 5.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,655 shares of the company’s stock after selling 859 shares during the quarter. STF Management LP’s holdings in Baker Hughes were worth $551,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Twin Tree Management LP grew its holdings in shares of Baker Hughes by 183.0% during the first quarter. Twin Tree Management LP now owns 338,738 shares of the company’s stock worth $11,348,000 after buying an additional 219,060 shares in the last quarter. Cibc World Markets Corp grew its holdings in shares of Baker Hughes by 59.4% during the fourth quarter. Cibc World Markets Corp now owns 274,046 shares of the company’s stock worth $9,367,000 after buying an additional 102,174 shares in the last quarter. Caxton Associates LP purchased a new stake in shares of Baker Hughes during the fourth quarter worth about $13,672,000. KBC Group NV grew its holdings in shares of Baker Hughes by 207.1% during the fourth quarter. KBC Group NV now owns 237,356 shares of the company’s stock worth $8,113,000 after buying an additional 160,056 shares in the last quarter. Finally, Corient Private Wealth LLC grew its holdings in shares of Baker Hughes by 255.9% during the fourth quarter. Corient Private Wealth LLC now owns 332,623 shares of the company’s stock worth $11,369,000 after buying an additional 239,160 shares in the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Baker Hughes Trading Up 1.7 %

BKR opened at $33.98 on Tuesday. The firm has a market capitalization of $33.76 billion, a P/E ratio of 18.98, a P/E/G ratio of 0.54 and a beta of 1.38. The firm’s 50 day moving average is $35.08 and its 200-day moving average is $33.55. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $39.05. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 0.37.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.08. The company had revenue of $7.10 billion for the quarter, compared to analyst estimates of $6.81 billion. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The business’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.39 earnings per share. Analysts expect that Baker Hughes will post 2.24 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Tuesday, August 6th were paid a dividend of $0.21 per share. The ex-dividend date was Tuesday, August 6th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.47%. Baker Hughes’s dividend payout ratio is currently 46.93%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BKR. Bank of America lowered their price target on shares of Baker Hughes from $40.00 to $38.00 and set a “buy” rating for the company in a report on Monday, July 15th. Wells Fargo & Company raised their target price on shares of Baker Hughes from $35.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Morgan Stanley decreased their target price on shares of Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a research report on Monday. Evercore ISI raised their target price on shares of Baker Hughes from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Finally, Stifel Nicolaus raised their target price on shares of Baker Hughes from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $43.31.

Insider Activity

In other news, CEO Lorenzo Simonelli sold 114,286 shares of Baker Hughes stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $35.00, for a total transaction of $4,000,010.00. Following the sale, the chief executive officer now owns 502,053 shares in the company, valued at $17,571,855. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.25% of the company’s stock.

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.