3Chopt Investment Partners LLC Sells 639 Shares of Baker Hughes (NASDAQ:BKR)

3Chopt Investment Partners LLC lowered its position in Baker Hughes (NASDAQ:BKR) by 1.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 43,126 shares of the company’s stock after selling 639 shares during the period. 3Chopt Investment Partners LLC’s holdings in Baker Hughes were worth $1,517,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of BKR. Twin Tree Management LP grew its position in shares of Baker Hughes by 183.0% during the 1st quarter. Twin Tree Management LP now owns 338,738 shares of the company’s stock worth $11,348,000 after buying an additional 219,060 shares during the period. Cibc World Markets Corp boosted its stake in Baker Hughes by 59.4% during the fourth quarter. Cibc World Markets Corp now owns 274,046 shares of the company’s stock worth $9,367,000 after acquiring an additional 102,174 shares in the last quarter. Caxton Associates LP acquired a new stake in Baker Hughes in the fourth quarter worth $13,672,000. KBC Group NV increased its stake in Baker Hughes by 207.1% in the fourth quarter. KBC Group NV now owns 237,356 shares of the company’s stock valued at $8,113,000 after purchasing an additional 160,056 shares in the last quarter. Finally, Diversified Trust Co raised its holdings in shares of Baker Hughes by 98.7% during the first quarter. Diversified Trust Co now owns 50,029 shares of the company’s stock valued at $1,676,000 after purchasing an additional 24,850 shares during the period. 92.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on BKR shares. Bank of America dropped their price target on Baker Hughes from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. The Goldman Sachs Group increased their target price on Baker Hughes from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Royal Bank of Canada raised their price objective on shares of Baker Hughes from $39.00 to $43.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Stifel Nicolaus lifted their price objective on shares of Baker Hughes from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Finally, Morgan Stanley lowered their target price on shares of Baker Hughes from $43.00 to $42.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $43.38.

Insider Buying and Selling

In other news, CEO Lorenzo Simonelli sold 114,286 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 502,053 shares in the company, valued at $17,571,855. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.25% of the stock is currently owned by insiders.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $36.15 on Tuesday. The firm has a market capitalization of $36.08 billion, a PE ratio of 20.20, a P/E/G ratio of 0.59 and a beta of 1.38. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. The company has a 50-day moving average price of $35.20 and a two-hundred day moving average price of $33.90. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $39.05.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.49 by $0.08. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The company had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $6.81 billion. During the same period last year, the firm earned $0.39 EPS. Baker Hughes’s revenue for the quarter was up 12.4% on a year-over-year basis. Equities analysts forecast that Baker Hughes will post 2.25 EPS for the current year.

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Tuesday, August 6th were issued a dividend of $0.21 per share. The ex-dividend date was Tuesday, August 6th. This represents a $0.84 dividend on an annualized basis and a yield of 2.32%. Baker Hughes’s dividend payout ratio (DPR) is 46.93%.

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.