Dupont Capital Management Corp Lowers Stock Holdings in Baker Hughes (NASDAQ:BKR)

Dupont Capital Management Corp lessened its stake in shares of Baker Hughes (NASDAQ:BKR – Get Rating) by 19.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,880 shares of the company’s stock after selling 714 shares during the quarter. Dupont Capital Management Corp’s holdings in Baker Hughes were worth $60,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. SeaCrest Wealth Management LLC purchased a new position in Baker Hughes during the 2nd quarter worth $27,000. Alpha Paradigm Partners LLC purchased a new position in Baker Hughes during the second quarter worth about $29,000. Hallmark Capital Management Inc. acquired a new stake in Baker Hughes in the second quarter valued at about $31,000. Evoke Wealth LLC lifted its position in Baker Hughes by 276.1% in the second quarter. Evoke Wealth LLC now owns 1,557 shares of the company’s stock valued at $45,000 after purchasing an additional 1,143 shares during the period. Finally, Covestor Ltd boosted its holdings in Baker Hughes by 104.7% in the 1st quarter. Covestor Ltd now owns 1,349 shares of the company’s stock valued at $49,000 after purchasing an additional 690 shares in the last quarter. 97.40% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Neil Saunders sold 118,492 shares of the firm’s stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $30.64, for a total value of $3,630,594.88. Following the transaction, the executive vice president now owns 54,417 shares of the company’s stock, valued at approximately $1,667,336.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Baker Hughes news, Director Gregory D. Brenneman sold 85,000 shares of the stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $31.23, for a total value of $2,654,550.00. Following the completion of the sale, the director now owns 16,842 shares of the company’s stock, valued at $525,975.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Neil Saunders sold 118,492 shares of the business’s stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $30.64, for a total transaction of $3,630,594.88. Following the transaction, the executive vice president now directly owns 54,417 shares in the company, valued at $1,667,336.88. The disclosure for this sale can be found here. Insiders sold a total of 285,303 shares of company stock worth $8,816,980 over the last ninety days. 0.34% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Jefferies Financial Group assumed coverage on Baker Hughes in a report on Wednesday, October 19th. They issued a “buy” rating and a $35.00 price target for the company. Barclays decreased their price objective on shares of Baker Hughes to $38.00 in a report on Thursday, October 20th. Citigroup decreased their price target on Baker Hughes from $40.00 to $36.00 in a research note on Tuesday, October 4th. Bank of America boosted their target price on Baker Hughes from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, October 20th. Finally, Royal Bank of Canada cut their price target on Baker Hughes from $35.00 to $33.00 and set an “outperform” rating for the company in a research note on Thursday, October 20th. One research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $35.07.

Baker Hughes Price Performance

Shares of Baker Hughes stock opened at $30.49 on Friday. The business’s fifty day moving average price is $29.37 and its 200 day moving average price is $26.72. Baker Hughes has a twelve month low of $20.42 and a twelve month high of $39.78. The company has a current ratio of 1.51, a quick ratio of 1.08 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $30.75 billion, a P/E ratio of -66.28, a PEG ratio of 0.44 and a beta of 1.48.

Baker Hughes (NASDAQ:BKR – Get Rating) last released its quarterly earnings data on Wednesday, October 19th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.01. Baker Hughes had a positive return on equity of 4.77% and a negative net margin of 2.36%. The business had revenue of $5.36 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same period in the previous year, the company posted $0.16 EPS. The company’s revenue was up 5.3% compared to the same quarter last year. As a group, research analysts anticipate that Baker Hughes will post 0.87 earnings per share for the current year.

Baker Hughes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 18th. Shareholders of record on Monday, November 7th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.49%. This is a boost from Baker Hughes’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, November 4th. Baker Hughes’s payout ratio is -165.22%.

Baker Hughes Profile

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Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. It operates through two segments: Oilfield Services & Equipment and Industrial & Energy Technology. The company offers exploration, drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, wireline services, downhole completion tools and systems, wellbore intervention tools and services, pressure pumping systems, oilfield and industrial chemicals, and artificial lift technologies for oil and natural gas, and oilfield service companies.