Cibc World Markets Corp Acquires 21,415 Shares of Baker Hughes (NASDAQ:BKR)

Cibc World Markets Corp boosted its holdings in Baker Hughes (NASDAQ:BKR) by 13.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 178,242 shares of the company’s stock after purchasing an additional 21,415 shares during the period. Cibc World Markets Corp’s holdings in Baker Hughes were worth $7,311,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Sovereign Investment Advisors LLC bought a new stake in shares of Baker Hughes during the 4th quarter worth approximately $314,000. Corient Private Wealth LLC raised its position in Baker Hughes by 2.5% during the fourth quarter. Corient Private Wealth LLC now owns 199,957 shares of the company’s stock worth $8,202,000 after acquiring an additional 4,969 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in Baker Hughes by 308.7% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 33,861 shares of the company’s stock valued at $1,389,000 after acquiring an additional 25,575 shares during the last quarter. Natixis Advisors LLC grew its position in shares of Baker Hughes by 217.5% in the 4th quarter. Natixis Advisors LLC now owns 1,728,450 shares of the company’s stock valued at $70,901,000 after acquiring an additional 1,184,036 shares during the period. Finally, Frank Rimerman Advisors LLC acquired a new position in shares of Baker Hughes during the 4th quarter worth about $236,000. 92.06% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Maria C. Borras sold 8,000 shares of the stock in a transaction that occurred 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 $7,758,730.54. This represents a 4.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.25% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on BKR shares. Stifel Nicolaus lifted their price target on Baker Hughes from $48.00 to $54.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Atb Cap Markets lowered Baker Hughes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. TD Cowen cut their price target on Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Susquehanna upped 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. Finally, Jefferies Financial Group raised their target price on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, Baker Hughes currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.06.

Baker Hughes Trading Down 0.4 %

BKR opened at $43.70 on Wednesday. The stock has a market capitalization of $43.27 billion, a price-to-earnings ratio of 14.66, a P/E/G ratio of 2.00 and a beta of 1.30. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. Baker Hughes has a twelve month low of $30.93 and a twelve month high of $49.40. The company has a 50-day simple moving average of $44.90 and a 200 day simple moving average of $41.21.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share 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%. Analysts predict that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.11%. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s payout ratio is 30.87%.

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.