State of Alaska Department of Revenue Lowers Holdings in Baker Hughes (NASDAQ:BKR)

State of Alaska Department of Revenue lessened its holdings in Baker Hughes (NASDAQ:BKR) by 7.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 145,624 shares of the company’s stock after selling 11,935 shares during the period. State of Alaska Department of Revenue’s holdings in Baker Hughes were worth $4,878,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. LPL Financial LLC boosted its stake in shares of Baker Hughes by 10.0% in the 3rd quarter. LPL Financial LLC now owns 160,631 shares of the company’s stock valued at $5,674,000 after buying an additional 14,542 shares during the period. Federated Hermes Inc. raised its holdings in Baker Hughes by 109.5% in the third quarter. Federated Hermes Inc. now owns 9,958 shares of the company’s stock valued at $352,000 after acquiring an additional 5,204 shares in the last quarter. Lazard Asset Management LLC lifted its stake in Baker Hughes by 616.2% in the third quarter. Lazard Asset Management LLC now owns 18,063 shares of the company’s stock worth $637,000 after acquiring an additional 15,541 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in Baker Hughes by 112.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 17,785 shares of the company’s stock worth $628,000 after acquiring an additional 9,396 shares in the last quarter. Finally, Alps Advisors Inc. purchased a new stake in shares of Baker Hughes in the 3rd quarter valued at approximately $792,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BKR. Morgan Stanley lifted their price objective on shares of Baker Hughes from $40.00 to $43.00 in a research report on Tuesday, April 23rd. Jefferies Financial Group lifted their price target on Baker Hughes from $45.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, June 28th. UBS Group increased their price objective on Baker Hughes from $35.00 to $36.00 in a report on Tuesday, April 23rd. The Goldman Sachs Group boosted their target price on Baker Hughes from $36.00 to $38.00 in a research note on Tuesday, April 23rd. Finally, 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. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $41.27.

Baker Hughes Stock Performance

Shares of BKR opened at $34.47 on Friday. The company’s 50 day simple moving average is $32.76 and its 200-day simple moving average is $32.09. The firm has a market cap of $34.40 billion, a PE ratio of 19.26, a price-to-earnings-growth ratio of 0.59 and a beta of 1.41. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $37.58. The company has a current ratio of 1.25, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.03. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. The company had revenue of $6.42 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same period last year, the firm posted $0.28 EPS. Baker Hughes’s revenue for the quarter was up 12.3% on a year-over-year basis. As a group, equities analysts predict that Baker Hughes will post 2.09 EPS for the current year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 6th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.44%. The ex-dividend date was Friday, May 3rd. Baker Hughes’s dividend payout ratio is presently 46.93%.

Insiders Place Their Bets

In other news, EVP Maria C. Borras sold 55,980 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $32.00, for a total value of $1,791,360.00. Following the transaction, the executive vice president now owns 92,035 shares of the company’s stock, valued at $2,945,120. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.25% of the stock is 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.