Harvest Fund Management Co. Ltd Acquires 9,466 Shares of Baker Hughes (NASDAQ:BKR)

Harvest Fund Management Co. Ltd raised its holdings in shares of Baker Hughes (NASDAQ:BKR) by 19.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,236 shares of the company’s stock after acquiring an additional 9,466 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Baker Hughes were worth $2,389,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of BKR. JFS Wealth Advisors LLC grew its position in shares of Baker Hughes by 135.9% during the fourth quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock valued at $27,000 after purchasing an additional 386 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Baker Hughes during the fourth quarter valued at about $30,000. Larson Financial Group LLC grew its position in shares of Baker Hughes by 41.2% during the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock valued at $30,000 after purchasing an additional 216 shares in the last quarter. True Wealth Design LLC grew its position in shares of Baker Hughes by 2,181.6% during the third quarter. True Wealth Design LLC now owns 867 shares of the company’s stock valued at $31,000 after purchasing an additional 829 shares in the last quarter. Finally, Groupama Asset Managment grew its position in shares of Baker Hughes by 1,045.1% during the third quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock valued at $32,000 after purchasing an additional 811,711 shares in the last quarter. 92.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Susquehanna raised their price objective on Baker Hughes from $53.00 to $55.00 and gave the company a “positive” rating in a research report on Monday, February 3rd. Jefferies Financial Group raised their price objective on Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Stifel Nicolaus lifted their price target on Baker Hughes from $48.00 to $54.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Finally, Barclays lifted their price target on Baker Hughes from $51.00 to $55.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $51.06.

Insider Activity

In other news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $44.77, for a total transaction of $358,160.00. Following the completion of the sale, the executive vice president now owns 173,302 shares of the company’s stock, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.25% of the company’s stock.

Baker Hughes Stock Up 2.1 %

Shares of NASDAQ BKR opened at $44.60 on Thursday. 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 company has a market cap of $44.16 billion, a P/E ratio of 14.97, a PEG ratio of 2.00 and a beta of 1.30. Baker Hughes has a 1 year low of $30.93 and a 1 year high of $49.40. The firm has a 50-day simple moving average of $44.93 and a two-hundred day simple moving average of $41.23.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, beating 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%. Research analysts anticipate that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

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