Interval Partners LP purchased a new stake in shares of Baker Hughes (NASDAQ:BKR – Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 130,556 shares of the company’s stock, valued at approximately $4,592,000.
A number of other hedge funds also recently bought and sold shares of the company. Redmont Wealth Advisors LLC acquired a new stake in Baker Hughes in the 1st quarter worth $27,000. New Covenant Trust Company N.A. bought a new stake in shares of Baker Hughes in the 1st quarter worth approximately $34,000. Alta Advisers Ltd acquired a new stake in shares of Baker Hughes during the 2nd quarter worth approximately $42,000. Headlands Technologies LLC bought a new stake in shares of Baker Hughes during the second quarter valued at approximately $48,000. Finally, UMB Bank n.a. raised its stake in shares of Baker Hughes by 281.2% in the first quarter. UMB Bank n.a. now owns 1,582 shares of the company’s stock valued at $53,000 after purchasing an additional 1,167 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors.
Baker Hughes Stock Up 1.1 %
Shares of NASDAQ BKR opened at $36.45 on Tuesday. The stock has a 50-day moving average price of $35.21 and a two-hundred day moving average price of $33.75. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $39.05. The company has a current ratio of 1.27, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37. The company has a market cap of $36.38 billion, a price-to-earnings ratio of 20.36, a PEG ratio of 0.54 and a beta of 1.38.
Baker Hughes Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Tuesday, August 6th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend was Tuesday, August 6th. Baker Hughes’s payout ratio is 46.93%.
Insider Transactions at Baker Hughes
In related news, CEO Lorenzo Simonelli sold 114,286 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $35.00, for a total transaction of $4,000,010.00. Following the transaction, the chief executive officer now directly owns 502,053 shares of the company’s stock, valued at approximately $17,571,855. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.25% of the company’s stock.
Analyst Ratings Changes
BKR has been the topic of several research analyst reports. Susquehanna upped their price objective on shares of Baker Hughes from $40.00 to $46.00 and gave the stock a “positive” rating in a research note on Monday, July 29th. Morgan Stanley dropped their price target on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Benchmark restated a “buy” rating and set a $40.00 target price on shares of Baker Hughes in a report on Friday, July 26th. Evercore ISI lifted their price target on Baker Hughes from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Baker Hughes from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $43.19.
Get Our Latest Stock Report on Baker Hughes
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.
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