Baker Hughes (NASDAQ:BKR) Shares Bought by BNP Paribas Arbitrage SNC

BNP Paribas Arbitrage SNC grew its holdings in shares of Baker Hughes (NASDAQ:BKR – Get Rating) by 22.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 870,613 shares of the company’s stock after acquiring an additional 157,706 shares during the quarter. BNP Paribas Arbitrage SNC owned about 0.09% of Baker Hughes worth $18,248,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Baker Hughes in the first quarter valued at $321,000. D.A. Davidson & CO. purchased a new stake in shares of Baker Hughes during the first quarter valued at $230,000. Synovus Financial Corp lifted its holdings in shares of Baker Hughes by 31.7% during the first quarter. Synovus Financial Corp now owns 13,399 shares of the company’s stock valued at $488,000 after purchasing an additional 3,226 shares during the last quarter. Cibc World Market Inc. lifted its holdings in shares of Baker Hughes by 197.9% during the first quarter. Cibc World Market Inc. now owns 36,783 shares of the company’s stock valued at $1,339,000 after purchasing an additional 24,434 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Baker Hughes by 4.5% during the first quarter. Dimensional Fund Advisors LP now owns 4,748,743 shares of the company’s stock valued at $172,934,000 after purchasing an additional 204,220 shares during the last quarter. Institutional investors and hedge funds own 97.40% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Maria C. Borras sold 9,811 shares of the stock in a transaction that occurred on Tuesday, January 31st. The stock was sold at an average price of $30.93, for a total value of $303,454.23. Following the completion of the transaction, the executive vice president now directly owns 59,463 shares of the company’s stock, valued at approximately $1,839,190.59. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

BKR has been the subject of several analyst reports. Susquehanna upped their target price on Baker Hughes from $35.00 to $40.00 and gave the company a “positive” rating in a report on Tuesday, January 24th. Evercore ISI upped their price target on Baker Hughes from $33.00 to $37.00 and gave the company an “outperform” rating in a research report on Tuesday, January 24th. Benchmark began coverage on Baker Hughes in a research report on Thursday, January 19th. They set a “buy” rating and a $36.00 price target on the stock. Piper Sandler raised Baker Hughes from a “neutral” rating to an “overweight” rating and upped their price target for the company from $34.00 to $43.00 in a research report on Wednesday, February 15th. Finally, Barclays upped their price target on Baker Hughes from $38.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday, January 25th. One investment analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, Baker Hughes presently has a consensus rating of “Moderate Buy” and an average target price of $36.68.

Baker Hughes Stock Performance

Shares of NASDAQ BKR opened at $28.36 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.90 and a current ratio of 1.32. The firm has a market cap of $28.68 billion, a price-to-earnings ratio of -47.27 and a beta of 1.46. The business’s 50-day simple moving average is $31.02 and its 200-day simple moving average is $28.16. Baker Hughes has a 52 week low of $20.42 and a 52 week high of $39.78.

Baker Hughes (NASDAQ:BKR – Get Rating) last announced its earnings results on Monday, January 23rd. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.02). Baker Hughes had a negative net margin of 2.85% and a positive return on equity of 5.98%. The business had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $6.07 billion. During the same quarter in the previous year, the company earned $0.25 EPS. Baker Hughes’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, equities research analysts expect that Baker Hughes will post 1.57 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 17th. Shareholders of record on Monday, February 6th were given a $0.19 dividend. The ex-dividend date was Friday, February 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.68%. Baker Hughes’s dividend payout ratio is currently -126.67%.

Baker Hughes Profile

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Baker Hughes Co is a holding company, which engages in the provision of oilfield products, services, and digital solutions. It operates through the Oilfield Services and Equipment (OFSE) and industrial and Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides services for onshore and offshore oilfield operations.