Catalyst Capital Advisors LLC Lowers Position in Baker Hughes (NASDAQ:BKR)

Catalyst Capital Advisors LLC cut its stake in shares of Baker Hughes (NASDAQ:BKR) by 43.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,591 shares of the company’s stock after selling 1,969 shares during the period. Catalyst Capital Advisors LLC’s holdings in Baker Hughes were worth $106,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of BKR. Hotchkis & Wiley Capital Management LLC raised its holdings in Baker Hughes by 34.7% during the third 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 period. Congress Asset Management Co. bought a new stake in Baker Hughes during the fourth quarter valued at about $107,155,000. Yaupon Capital Management LP bought a new stake in Baker Hughes during the third quarter valued at about $47,296,000. Eagle Asset Management Inc. raised its holdings in Baker Hughes by 18.6% during the third quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company’s stock valued at $198,326,000 after acquiring an additional 860,219 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Baker Hughes by 436.0% during the third 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 acquiring an additional 817,227 shares during the period. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Baker Hughes Trading Up 1.3 %

Shares of NASDAQ BKR opened at $46.98 on Wednesday. The business’s 50 day moving average is $43.91 and its two-hundred day moving average is $39.91. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. Baker Hughes has a 1-year low of $28.66 and a 1-year high of $49.40. The stock has a market capitalization of $46.49 billion, a P/E ratio of 15.77, a PEG ratio of 2.07 and a beta of 1.39.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. As a group, research analysts expect that Baker Hughes will post 2.57 EPS for the current year.

Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.96%. The ex-dividend date is Tuesday, February 11th. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s payout ratio is 28.19%.

Analysts Set New Price Targets

A number of equities research analysts have commented on BKR shares. Royal Bank of Canada raised their price target on Baker Hughes from $49.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Benchmark reissued a “buy” rating and set a $57.00 price target on shares of Baker Hughes in a report on Tuesday, February 11th. Citigroup lifted their target price on Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Atb Cap Markets cut Baker Hughes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, Jefferies Financial Group lifted their target price on Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, Baker Hughes has an average rating of “Moderate Buy” and a consensus target price of $51.06.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 173,302 shares in the company, valued at $7,758,730.54. The trade was a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.25% of the company’s stock.

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.