Banco Santander S.A. Boosts Stock Position in Baker Hughes (NASDAQ:BKR)

Banco Santander S.A. boosted its holdings in Baker Hughes (NASDAQ:BKR) by 34.9% during the 4th quarter, Holdings Channel reports. The firm owned 24,087 shares of the company’s stock after acquiring an additional 6,226 shares during the period. Banco Santander S.A.’s holdings in Baker Hughes were worth $988,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC raised its stake in shares of Baker Hughes by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 24,078,093 shares of the company’s stock valued at $867,514,000 after purchasing an additional 123,172 shares during the period. Hotchkis & Wiley Capital Management LLC grew its position 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 worth $394,775,000 after buying an additional 2,811,940 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Baker Hughes by 1.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,633,006 shares of the company’s stock worth $348,233,000 after buying an additional 145,537 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Baker Hughes during the fourth quarter worth about $291,289,000. Finally, Charles Schwab Investment Management Inc. grew its position in Baker Hughes by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,086,903 shares of the company’s stock worth $290,705,000 after buying an additional 135,200 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Wall Street Analyst Weigh In

BKR has been the subject of several recent analyst reports. TD Cowen reduced their target price on Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Piper Sandler boosted their target price on Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Benchmark restated a “buy” rating and set a $57.00 target price on shares of Baker Hughes in a research report on Tuesday, February 11th. Susquehanna upped their price objective on Baker Hughes from $53.00 to $55.00 and gave the stock a “positive” rating in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. upped their price objective on Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, Baker Hughes presently has an average rating of “Moderate Buy” and a consensus target price of $51.06.

Insider Activity

In other news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $44.77, for a total transaction of $358,160.00. Following the transaction, the executive vice president now owns 173,302 shares in the company, valued at $7,758,730.54. This represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.25% of the company’s stock.

Baker Hughes Stock Performance

Baker Hughes stock opened at $42.89 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. The firm has a market capitalization of $42.47 billion, a P/E ratio of 14.39, a price-to-earnings-growth ratio of 2.00 and a beta of 1.30. Baker Hughes has a 1-year low of $30.52 and a 1-year high of $49.40. The company’s 50-day moving average is $44.82 and its 200 day moving average is $40.85.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. Research analysts forecast that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th were given a dividend of $0.23 per share. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date was Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a yield of 2.15%. Baker Hughes’s dividend payout ratio (DPR) is 30.87%.

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.