Burney Co. Raises Stock Holdings in Baker Hughes (NASDAQ:BKR)

Burney Co. boosted its stake in Baker Hughes (NASDAQ:BKR) by 315.0% during the fourth quarter, HoldingsChannel reports. The firm owned 138,788 shares of the company’s stock after buying an additional 105,349 shares during the period. Burney Co.’s holdings in Baker Hughes were worth $5,693,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Geode Capital Management LLC raised its position in shares of Baker Hughes by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 24,078,093 shares of the company’s stock valued at $867,514,000 after buying an additional 123,172 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in Baker Hughes by 34.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock valued at $394,775,000 after acquiring an additional 2,811,940 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Baker Hughes by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock valued at $348,074,000 after purchasing an additional 680,621 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Baker Hughes by 1.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,633,006 shares of the company’s stock worth $348,233,000 after purchasing an additional 145,537 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Baker Hughes by 8.6% in the 2nd quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock worth $306,801,000 after purchasing an additional 692,859 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors.

Baker Hughes Price Performance

Shares of Baker Hughes stock opened at $45.45 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $45.65. The company has a market cap of $44.97 billion, a PE ratio of 20.38, a P/E/G ratio of 0.72 and a beta of 1.39. The business has a 50 day moving average of $42.54 and a 200 day moving average of $38.14.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $7.21 billion. During the same period in the prior year, the firm earned $0.42 earnings per share. Baker Hughes’s revenue was up 4.0% on a year-over-year basis. As a group, equities research analysts forecast that Baker Hughes will post 2.29 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.84 annualized dividend and a dividend yield of 1.85%. Baker Hughes’s dividend payout ratio is presently 37.67%.

Analyst Upgrades and Downgrades

BKR has been the subject of a number of recent research reports. Susquehanna boosted their target price on Baker Hughes from $46.00 to $48.00 and gave the stock a “positive” rating in a research report on Thursday, October 24th. Benchmark restated a “buy” rating and issued a $42.00 price objective on shares of Baker Hughes in a report on Thursday, October 24th. UBS Group reduced their target price on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. BMO Capital Markets boosted their price target on shares of Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Finally, Evercore ISI raised their price objective on Baker Hughes from $46.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $47.53.

Baker Hughes Company 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.