Alliancebernstein L.P. Has $397.54 Million Stake in Baker Hughes (NASDAQ:BKR)

Alliancebernstein L.P. lessened its stake in Baker Hughes (NASDAQ:BKR) by 3.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,691,390 shares of the company’s stock after selling 342,536 shares during the quarter. Alliancebernstein L.P.’s holdings in Baker Hughes were worth $397,541,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in Baker Hughes by 0.5% during the third quarter. Geode Capital Management LLC now owns 24,078,093 shares of the company’s stock worth $867,514,000 after buying an additional 123,172 shares during the last quarter. Norges Bank acquired a new stake in Baker Hughes in the 4th quarter worth about $829,092,000. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Baker Hughes by 34.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock valued at $394,775,000 after buying an additional 2,811,940 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Baker Hughes during the 4th quarter valued at $291,289,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Baker Hughes by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,086,903 shares of the company’s stock worth $290,705,000 after buying an additional 135,200 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Trading Up 2.0 %

Shares of BKR stock opened at $43.95 on Tuesday. The business has a 50-day moving average of $44.76 and a 200 day moving average of $41.87. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. Baker Hughes has a 1-year low of $30.93 and a 1-year high of $49.40. The stock has a market capitalization of $43.52 billion, a PE ratio of 14.75, a P/E/G ratio of 2.00 and a beta of 1.30.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. As a group, sell-side analysts anticipate that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were issued a dividend of $0.23 per share. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend was Tuesday, February 11th. Baker Hughes’s dividend payout ratio is currently 30.87%.

Insider Buying and Selling at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of the firm’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the sale, the executive vice president now directly owns 173,302 shares of the company’s stock, valued at approximately $7,758,730.54. This trade represents a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.25% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on BKR shares. Royal Bank of Canada raised their price target on shares of Baker Hughes from $49.00 to $53.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. TD Cowen lowered their price objective on Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Stifel Nicolaus lifted their price objective on Baker Hughes from $48.00 to $54.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Susquehanna boosted their target price on Baker Hughes from $53.00 to $55.00 and gave the company a “positive” rating in a research report on Monday, February 3rd. Finally, The Goldman Sachs Group increased their price target on Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, Baker Hughes currently has an average rating of “Moderate Buy” and a consensus price target of $51.00.

Baker Hughes Company 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.