Oppenheimer Asset Management Inc. Buys 140,102 Shares of Baker Hughes (NASDAQ:BKR)

Oppenheimer Asset Management Inc. grew its stake in shares of Baker Hughes (NASDAQ:BKR) by 383.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 176,675 shares of the company’s stock after acquiring an additional 140,102 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Baker Hughes were worth $7,247,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Assenagon Asset Management S.A. grew its holdings in shares of Baker Hughes by 15.8% during the third quarter. Assenagon Asset Management S.A. now owns 40,838 shares of the company’s stock valued at $1,476,000 after buying an additional 5,570 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Baker Hughes by 41.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 40,050 shares of the company’s stock valued at $1,448,000 after buying an additional 11,834 shares during the last quarter. J.W. Cole Advisors Inc. purchased a new stake in shares of Baker Hughes during the third quarter valued at approximately $218,000. First Trust Direct Indexing L.P. lifted its holdings in shares of Baker Hughes by 1.4% during the third quarter. First Trust Direct Indexing L.P. now owns 29,841 shares of the company’s stock valued at $1,079,000 after purchasing an additional 398 shares in the last quarter. Finally, Stephens Investment Management Group LLC lifted its holdings in shares of Baker Hughes by 8.6% during the third quarter. Stephens Investment Management Group LLC now owns 400,603 shares of the company’s stock valued at $14,482,000 after purchasing an additional 31,852 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors.

Baker Hughes Price Performance

Shares of Baker Hughes stock opened at $44.59 on Friday. The stock’s fifty day moving average is $44.62 and its 200 day moving average is $40.49. The stock has a market cap of $44.15 billion, a P/E ratio of 14.96, a P/E/G ratio of 2.00 and a beta of 1.39. Baker Hughes has a one year low of $29.30 and a one year high of $49.40. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. Sell-side analysts anticipate that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were issued a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.92 annualized dividend and a yield of 2.06%. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s dividend payout ratio is currently 30.87%.

Insider Buying and Selling

In related news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the transaction, the executive vice president now owns 173,302 shares of the company’s stock, valued at approximately $7,758,730.54. This represents a 4.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.25% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Jefferies Financial Group upped their price target on Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Barclays boosted their price objective on shares of Baker Hughes from $51.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. TD Cowen decreased their price objective on shares of Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Wells Fargo & Company boosted their price objective on shares of Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, Susquehanna boosted their price objective on shares of Baker Hughes from $53.00 to $55.00 and gave the company a “positive” rating in a report on Monday, February 3rd. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, Baker Hughes presently has an average rating of “Moderate Buy” and a consensus target price of $51.06.

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.