Guinness Asset Management LTD Has $8.38 Million Holdings in Baker Hughes (NASDAQ:BKR)

Guinness Asset Management LTD trimmed its position in Baker Hughes (NASDAQ:BKR) by 13.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 204,428 shares of the company’s stock after selling 30,826 shares during the quarter. Guinness Asset Management LTD’s holdings in Baker Hughes were worth $8,378,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Bridges Investment Management Inc. acquired a new stake in shares of Baker Hughes in the second quarter worth $314,000. AE Wealth Management LLC acquired a new stake in Baker Hughes during the 2nd quarter worth about $208,000. Pacer Advisors Inc. grew its stake in Baker Hughes by 2.7% during the 2nd quarter. Pacer Advisors Inc. now owns 140,111 shares of the company’s stock valued at $4,928,000 after acquiring an additional 3,740 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Baker Hughes by 6.3% in the 2nd quarter. Sei Investments Co. now owns 1,223,571 shares of the company’s stock valued at $43,033,000 after purchasing an additional 73,013 shares during the period. Finally, Westwood Holdings Group Inc. purchased a new stake in shares of Baker Hughes in the second quarter worth approximately $288,000. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Stock Up 0.5 %

BKR stock opened at $46.54 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. The company has a 50-day moving average of $42.74 and a two-hundred day moving average of $38.36. The stock has a market capitalization of $46.05 billion, a price-to-earnings ratio of 20.87, a price-to-earnings-growth ratio of 0.79 and a beta of 1.39. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $47.47.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The firm had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.21 billion. During the same quarter last year, the firm posted $0.42 EPS. The company’s revenue was up 4.0% on a year-over-year basis. As a group, equities research analysts anticipate that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes’s payout ratio is currently 37.67%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Jefferies Financial Group upped their price objective on shares of Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Wells Fargo & Company upped their price target on shares of Baker Hughes from $42.00 to $49.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Barclays lifted their price objective on Baker Hughes from $46.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Citigroup upped their target price on Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, Morgan Stanley lifted their price target on Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. Three 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.com, the stock has an average rating of “Moderate Buy” and an average price target of $47.53.

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.