Hourglass Capital LLC Decreases Stake in Baker Hughes (NASDAQ:BKR)

Hourglass Capital LLC decreased its position in Baker Hughes (NASDAQ:BKR) by 1.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 168,235 shares of the company’s stock after selling 1,810 shares during the quarter. Baker Hughes accounts for 1.9% of Hourglass Capital LLC’s portfolio, making the stock its 19th biggest holding. Hourglass Capital LLC’s holdings in Baker Hughes were worth $6,901,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of BKR. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Baker Hughes by 34.7% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock valued at $394,775,000 after acquiring an additional 2,811,940 shares during the last quarter. Congress Asset Management Co. purchased a new stake in Baker Hughes during the fourth quarter valued at approximately $107,155,000. Yaupon Capital Management LP bought a new stake in shares of Baker Hughes in the 3rd quarter valued at approximately $47,296,000. Eagle Asset Management Inc. boosted its holdings in shares of Baker Hughes by 18.6% in the 3rd quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company’s stock worth $198,326,000 after purchasing an additional 860,219 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Baker Hughes by 436.0% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,004,647 shares of the company’s stock valued at $36,318,000 after purchasing an additional 817,227 shares during the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Trading Up 0.5 %

NASDAQ:BKR opened at $46.40 on Friday. The firm has a 50-day simple moving average of $43.81 and a 200-day simple moving average of $39.83. Baker Hughes has a one year low of $28.66 and a one year high of $49.40. The firm has a market cap of $45.91 billion, a P/E ratio of 15.57, a P/E/G ratio of 2.07 and a beta of 1.39. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. Equities analysts anticipate that Baker Hughes will post 2.57 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th will be issued a $0.23 dividend. The ex-dividend date is Tuesday, February 11th. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a yield of 1.98%. Baker Hughes’s payout ratio is currently 28.19%.

Insider Buying and Selling at Baker Hughes

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

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Jefferies Financial Group lifted their price objective on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Barclays upped their price target on shares of Baker Hughes from $51.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. The Goldman Sachs Group raised their price objective on shares of Baker Hughes from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Piper Sandler upped their target price on Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Benchmark reissued a “buy” rating and set a $57.00 price target on shares of Baker Hughes in a research note on Tuesday, February 11th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $51.06.

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.