Victory Capital Management Inc. Boosts Holdings in Baker Hughes (NASDAQ:BKR)

Victory Capital Management Inc. lifted its stake in Baker Hughes (NASDAQ:BKR) by 10.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,034,695 shares of the company’s stock after purchasing an additional 99,105 shares during the period. Victory Capital Management Inc. owned 0.10% of Baker Hughes worth $35,366,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on BKR shares. Susquehanna reiterated a “positive” rating and issued a $40.00 price target on shares of Baker Hughes in a research note on Monday, April 8th. Benchmark restated a “buy” rating and set a $40.00 price objective on shares of Baker Hughes in a research note on Wednesday, April 24th. Barclays reduced their price objective on shares of Baker Hughes from $43.00 to $42.00 and set an “overweight” rating for the company in a research note on Friday, January 26th. Wolfe Research lowered shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 29th. Finally, UBS Group raised their price objective on shares of Baker Hughes from $35.00 to $36.00 in a research note on Tuesday, April 23rd. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $40.94.

Baker Hughes Stock Performance

BKR opened at $32.00 on Tuesday. The company has a current ratio of 1.25, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38. The company has a market cap 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’s 50 day moving average is $32.39 and its 200 day moving average is $32.38. Baker Hughes has a 12-month low of $26.96 and a 12-month high of $37.58.

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

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 6th will be issued a $0.21 dividend. 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 payout ratio is 46.93%.

Insider Buying and Selling

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

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.