Oppenheimer & Co. Inc. Has $1.19 Million Stock Holdings in Baker Hughes Company (NASDAQ:BKR)

Oppenheimer & Co. Inc. lessened its stake in shares of Baker Hughes Company (NASDAQ:BKR) by 8.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,967 shares of the company’s stock after selling 2,457 shares during the period. Oppenheimer & Co. Inc.’s holdings in Baker Hughes were worth $1,185,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BKR. Norges Bank acquired a new stake in shares of Baker Hughes in the fourth quarter worth $829,092,000. Raymond James Financial Inc. acquired a new stake in shares of Baker Hughes in the fourth quarter worth $291,289,000. Neuberger Berman Group LLC grew its stake in shares of Baker Hughes by 2,527.6% in the fourth quarter. Neuberger Berman Group LLC now owns 3,319,418 shares of the company’s stock worth $136,158,000 after acquiring an additional 3,193,089 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Baker Hughes in the fourth quarter worth $128,542,000. Finally, FMR LLC grew its stake in shares of Baker Hughes by 12.5% in the fourth quarter. FMR LLC now owns 15,702,057 shares of the company’s stock worth $644,098,000 after acquiring an additional 1,744,225 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Analysts Set New Price Targets

BKR has been the topic of several research analyst reports. Barclays lowered their price objective on shares of Baker Hughes from $54.00 to $48.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. TD Securities decreased their price target on shares of Baker Hughes from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Evercore ISI decreased their price target on shares of Baker Hughes from $52.00 to $50.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Royal Bank Of Canada decreased their price target on shares of Baker Hughes from $50.00 to $46.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Finally, Morgan Stanley decreased their price target on shares of Baker Hughes from $55.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday, May 16th. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $49.11.

Baker Hughes Trading Down 0.7%

Shares of NASDAQ BKR opened at $38.06 on Friday. Baker Hughes Company has a 1-year low of $32.25 and a 1-year high of $49.40. The company has a 50-day moving average of $37.48 and a two-hundred day moving average of $41.09. The company has a market cap of $37.71 billion, a PE ratio of 12.99, a P/E/G ratio of 4.05 and a beta of 0.91. The company has a current ratio of 1.34, a quick ratio of 0.93 and a debt-to-equity ratio of 0.35.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. Baker Hughes had a net margin of 10.51% and a return on equity of 14.70%. The company had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.54 billion. As a group, equities analysts expect that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.42%. Baker Hughes’s payout ratio is 31.40%.

About Baker Hughes

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.