Y Intercept Hong Kong Ltd Sells 23,602 Shares of Baker Hughes Company (NASDAQ:BKR)

Y Intercept Hong Kong Ltd trimmed its position in shares of Baker Hughes Company (NASDAQ:BKR – Free Report) by 44.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,414 shares of the company’s stock after selling 23,602 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Baker Hughes were worth $1,293,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in BKR. LPL Financial LLC boosted its stake in shares of Baker Hughes by 57.7% during the fourth quarter. LPL Financial LLC now owns 289,414 shares of the company’s stock valued at $11,872,000 after purchasing an additional 105,878 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Baker Hughes by 8.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,656,467 shares of the company’s stock worth $70,665,000 after acquiring an additional 124,937 shares during the period. UniSuper Management Pty Ltd lifted its stake in shares of Baker Hughes by 13.3% in the fourth quarter. UniSuper Management Pty Ltd now owns 84,220 shares of the company’s stock worth $3,455,000 after acquiring an additional 9,876 shares during the period. NEOS Investment Management LLC lifted its stake in shares of Baker Hughes by 25.4% in the fourth quarter. NEOS Investment Management LLC now owns 131,784 shares of the company’s stock worth $5,406,000 after acquiring an additional 26,698 shares during the period. Finally, LM Advisors LLC acquired a new position in shares of Baker Hughes in the fourth quarter worth approximately $359,000. 92.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Susquehanna lifted their price objective on Baker Hughes from $46.00 to $52.00 and gave the stock a “positive” rating in a research note on Thursday. Evercore ISI cut their price objective on Baker Hughes from $52.00 to $50.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Royal Bank Of Canada cut their price objective on Baker Hughes from $50.00 to $46.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Barclays lifted their price objective on Baker Hughes from $48.00 to $53.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, TD Cowen lifted their target price on Baker Hughes from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.50.

View Our Latest Research Report on BKR

Baker Hughes Trading Up 2.3%

NASDAQ BKR opened at $45.72 on Friday. The company has a market cap of $45.30 billion, a price-to-earnings ratio of 14.94, a P/E/G ratio of 5.60 and a beta of 0.91. Baker Hughes Company has a 52 week low of $32.25 and a 52 week high of $49.40. The business has a 50 day moving average price of $38.72 and a 200-day moving average price of $40.95. The company has a quick ratio of 0.93, a current ratio of 1.41 and a debt-to-equity ratio of 0.33.

Baker Hughes (NASDAQ:BKR – Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.55 by $0.08. The firm had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $6.64 billion. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%. The company’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.57 earnings per share. As a group, equities analysts expect that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, August 5th will be issued a dividend of $0.23 per share. The ex-dividend date is Tuesday, August 5th. This represents a $0.92 annualized dividend and a yield of 2.01%. Baker Hughes’s dividend payout ratio (DPR) is currently 31.40%.

Baker Hughes Company Profile

(Free Report)

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.