Victory Capital Management Inc. Increases Stock Position in Baker Hughes (NASDAQ:BKR)

Victory Capital Management Inc. lifted its position in shares of Baker Hughes (NASDAQ:BKR) by 10.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,034,695 shares of the company’s stock after buying an additional 99,105 shares during the period. Victory Capital Management Inc.’s holdings in Baker Hughes were worth $35,366,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of BKR. Commonwealth Equity Services LLC raised its position in shares of Baker Hughes by 4.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 24,720 shares of the company’s stock worth $873,000 after purchasing an additional 1,006 shares during the last quarter. Raymond James & Associates raised its position in shares of Baker Hughes by 4.6% during the 3rd quarter. Raymond James & Associates now owns 410,062 shares of the company’s stock worth $14,483,000 after purchasing an additional 17,997 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Baker Hughes by 105.8% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 44,836 shares of the company’s stock worth $1,584,000 after purchasing an additional 23,052 shares during the last quarter. New York State Teachers Retirement System raised its stake in Baker Hughes by 2.8% in the 3rd quarter. New York State Teachers Retirement System now owns 844,787 shares of the company’s stock valued at $29,838,000 after purchasing an additional 23,031 shares during the last quarter. Finally, Lindbrook Capital LLC lifted its holdings in Baker Hughes by 64.3% in the 3rd quarter. Lindbrook Capital LLC now owns 2,724 shares of the company’s stock valued at $96,000 after purchasing an additional 1,066 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Analyst Ratings Changes

BKR has been the subject of a number of recent research reports. UBS Group lifted their price target on shares of Baker Hughes from $35.00 to $36.00 in a report on Tuesday, April 23rd. Barclays cut their price target on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating for the company in a report on Friday, January 26th. The Goldman Sachs Group raised their price objective on Baker Hughes from $36.00 to $38.00 in a report on Tuesday, April 23rd. Wolfe Research lowered Baker Hughes from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 29th. Finally, Morgan Stanley raised their price target on Baker Hughes from $40.00 to $43.00 in a research note on Tuesday, April 23rd. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Baker Hughes presently has an average rating of “Moderate Buy” and an average target price of $40.94.

Baker Hughes Trading Up 0.3 %

NASDAQ BKR opened at $32.00 on Tuesday. The firm has a market capitalization of $31.94 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 0.55 and a beta of 1.44. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.25. Baker Hughes has a one year low of $26.96 and a one year high of $37.58. The company’s 50 day moving average price is $32.39 and its 200 day moving average price is $32.38.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.03. The company had revenue of $6.42 billion during the quarter, compared to analyst estimates of $6.37 billion. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.28 earnings per share. On average, sell-side analysts predict that Baker Hughes will post 2.08 EPS for the current year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date is Friday, May 3rd. Baker Hughes’s dividend payout ratio is presently 46.93%.

Insider Transactions at Baker Hughes

In other Baker Hughes news, SVP James E. Apostolides sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total value of $294,400.00. Following the completion of the sale, the senior vice president now owns 14,451 shares of the company’s stock, valued at $425,437.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP James E. Apostolides sold 5,000 shares of Baker Hughes stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $33.88, for a total transaction of $169,400.00. Following the sale, the senior vice president now directly owns 14,998 shares of the company’s stock, valued at $508,132.24. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP James E. Apostolides sold 10,000 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total value of $294,400.00. Following the completion of the transaction, the senior vice president now directly owns 14,451 shares of the company’s stock, valued at approximately $425,437.44. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Baker Hughes 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.