Envestnet Asset Management Inc. Has $8.55 Million Stock Position in Baker Hughes (NASDAQ:BKR)

Envestnet Asset Management Inc. boosted its position in shares of Baker Hughes (NASDAQ:BKR) by 0.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 296,078 shares of the company’s stock after purchasing an additional 1,807 shares during the period. Envestnet Asset Management Inc.’s holdings in Baker Hughes were worth $8,545,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Baker Hughes by 3.4% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 10,652 shares of the company’s stock worth $315,000 after buying an additional 350 shares during the last quarter. Quantinno Capital Management LP lifted its position in shares of Baker Hughes by 0.8% in the first quarter. Quantinno Capital Management LP now owns 46,327 shares of the company’s stock worth $1,337,000 after buying an additional 367 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake in shares of Baker Hughes by 1.1% in the first quarter. Ameritas Investment Partners Inc. now owns 34,111 shares of the company’s stock worth $984,000 after purchasing an additional 373 shares during the period. Oregon Public Employees Retirement Fund increased its stake in shares of Baker Hughes by 0.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 78,036 shares of the company’s stock worth $2,252,000 after purchasing an additional 395 shares during the period. Finally, Nissay Asset Management Corp Japan ADV increased its stake in shares of Baker Hughes by 0.4% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 110,238 shares of the company’s stock worth $3,255,000 after purchasing an additional 429 shares during the period. Institutional investors and hedge funds own 92.22% of the company’s stock.

Baker Hughes Stock Up 0.4 %

Shares of BKR opened at $37.22 on Thursday. The company has a market capitalization of $37.58 billion, a P/E ratio of 32.94 and a beta of 1.52. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.28 and a quick ratio of 0.88. Baker Hughes has a one year low of $20.42 and a one year high of $37.58. The business’s 50 day simple moving average is $34.92 and its 200-day simple moving average is $31.15.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Wednesday, July 19th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.33 by $0.06. The business had revenue of $6.32 billion for the quarter, compared to the consensus estimate of $6.27 billion. Baker Hughes had a return on equity of 9.01% and a net margin of 4.94%. Baker Hughes’s revenue was up 25.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.11 EPS. As a group, sell-side analysts predict that Baker Hughes will post 1.53 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 18th. Shareholders of record on Tuesday, August 8th were issued a dividend of $0.20 per share. This is an increase from Baker Hughes’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Monday, August 7th. This represents a $0.80 annualized dividend and a yield of 2.15%. Baker Hughes’s dividend payout ratio is currently 70.80%.

Analyst Ratings Changes

BKR has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price objective on Baker Hughes from $32.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 20th. HSBC boosted their price target on Baker Hughes from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Friday, July 21st. Bank of America boosted their price target on Baker Hughes from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, July 24th. Citigroup boosted their price target on Baker Hughes from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, July 25th. Finally, Morgan Stanley restated an “overweight” rating and set a $37.00 price target on shares of Baker Hughes in a research note on Friday, July 21st. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $38.22.

Insiders Place Their Bets

In other Baker Hughes news, SVP James E. Apostolides sold 3,195 shares of the company’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $29.93, for a total transaction of $95,626.35. Following the transaction, the senior vice president now owns 8,147 shares of the company’s stock, valued at approximately $243,839.71. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Baker Hughes news, SVP James E. Apostolides sold 3,195 shares of the company’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $29.93, for a total transaction of $95,626.35. Following the transaction, the senior vice president now owns 8,147 shares of the company’s stock, valued at approximately $243,839.71. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Regina Jones sold 10,000 shares of the company’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $35.60, for a total value of $356,000.00. Following the transaction, the insider now directly owns 72,873 shares in the company, valued at approximately $2,594,278.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 165,695 shares of company stock valued at $5,871,551. 0.24% of the stock is currently owned by corporate insiders.

Baker Hughes Profile

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 (OFSE) and Industrial & Energy Technology (IET). 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.