Adage Capital Partners GP L.L.C. Has $15.36 Million Position in Baker Hughes (NASDAQ:BKR)

Adage Capital Partners GP L.L.C. lessened its stake in Baker Hughes (NASDAQ:BKR) by 20.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 374,502 shares of the company’s stock after selling 96,900 shares during the quarter. Adage Capital Partners GP L.L.C.’s holdings in Baker Hughes were worth $15,362,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BKR. Morse Asset Management Inc acquired a new stake in Baker Hughes during the third quarter valued at $1,263,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Baker Hughes during the 3rd quarter valued at about $139,000. Birmingham Capital Management Co. Inc. AL grew its stake in shares of Baker Hughes by 18.5% in the 3rd quarter. Birmingham Capital Management Co. Inc. AL now owns 16,000 shares of the company’s stock valued at $578,000 after buying an additional 2,500 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Baker Hughes by 4.2% in the third quarter. Principal Financial Group Inc. now owns 1,177,877 shares of the company’s stock worth $42,580,000 after buying an additional 47,727 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in Baker Hughes by 41.1% in the fourth quarter. GAMMA Investing LLC now owns 10,286 shares of the company’s stock worth $422,000 after buying an additional 2,998 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Price Performance

Baker Hughes stock opened at $36.45 on Friday. The stock has a market cap of $36.09 billion, a price-to-earnings ratio of 12.23, a P/E/G ratio of 2.00 and a beta of 1.08. Baker Hughes has a 12-month low of $30.93 and a 12-month high of $49.40. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The business’s 50-day simple moving average is $41.39 and its 200 day simple moving average is $42.07.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. The business had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.54 billion. As a group, research analysts anticipate that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th will be given a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, May 6th. This represents a $0.92 annualized dividend and a dividend yield of 2.52%. Baker Hughes’s dividend payout ratio is currently 31.40%.

Analysts Set New Price Targets

Several research firms have commented on BKR. Susquehanna decreased their target price on shares of Baker Hughes from $48.00 to $46.00 and set a “positive” rating for the company in a research report on Thursday. TD Securities decreased their price objective on shares of Baker Hughes from $50.00 to $49.00 and set a “buy” rating for the company in a report on Thursday. Jefferies Financial Group raised their target price on Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Barclays decreased their price target on Baker Hughes from $54.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Evercore ISI cut their price objective on Baker Hughes from $52.00 to $50.00 and set an “outperform” rating on the stock in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, Baker Hughes currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.11.

Insider Buying and Selling

In other news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction on Monday, January 27th. The shares were sold at an average price of $44.77, for a total transaction of $358,160.00. Following the transaction, the executive vice president now directly owns 173,302 shares of the company’s stock, valued at $7,758,730.54. This trade represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.27% of the stock is owned by insiders.

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.