Cibc World Markets Corp Acquires 21,415 Shares of Baker Hughes (NASDAQ:BKR)

Cibc World Markets Corp boosted its holdings in shares of Baker Hughes (NASDAQ:BKR) by 13.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 178,242 shares of the company’s stock after acquiring an additional 21,415 shares during the quarter. Cibc World Markets Corp’s holdings in Baker Hughes were worth $7,311,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new position in shares of Baker Hughes during the fourth quarter worth about $291,289,000. Hotchkis & Wiley Capital Management LLC raised its holdings in Baker Hughes by 34.7% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock worth $394,775,000 after purchasing an additional 2,811,940 shares during the last quarter. Congress Asset Management Co. acquired a new position in shares of Baker Hughes in the 4th quarter worth approximately $107,155,000. Yaupon Capital Management LP bought a new stake in shares of Baker Hughes in the 3rd quarter valued at $47,296,000. Finally, Natixis Advisors LLC increased its position in shares of Baker Hughes by 217.5% during the fourth quarter. Natixis Advisors LLC now owns 1,728,450 shares of the company’s stock worth $70,901,000 after buying an additional 1,184,036 shares during the period. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Piper Sandler upped their price target on shares of Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Royal Bank of Canada upped their target price on Baker Hughes from $49.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Jefferies Financial Group lifted their target price on Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. TD Cowen cut their price target on Baker Hughes from $53.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Finally, Evercore ISI boosted their target price on shares of Baker Hughes from $46.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, January 15th. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, Baker Hughes currently has an average rating of “Moderate Buy” and an average target price of $51.06.

Baker Hughes Trading Down 0.4 %

NASDAQ BKR opened at $43.70 on Wednesday. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $43.27 billion, a P/E ratio of 14.66, a PEG ratio of 2.00 and a beta of 1.30. The business has a fifty day simple moving average of $44.90 and a 200 day simple moving average of $41.21. Baker Hughes has a 12 month low of $30.93 and a 12 month high of $49.40.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. On average, analysts predict that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date was Tuesday, February 11th. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s payout ratio is presently 30.87%.

Insider Activity

In related news, EVP Maria C. Borras sold 8,000 shares of the business’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 transaction, the executive vice president now directly owns 173,302 shares of the company’s stock, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.25% 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. 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.