CIBC Asset Management Inc Increases Position in Baker Hughes (NASDAQ:BKR)

CIBC Asset Management Inc raised its holdings in Baker Hughes (NASDAQ:BKR) by 3.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 318,401 shares of the company’s stock after purchasing an additional 9,764 shares during the quarter. CIBC Asset Management Inc’s holdings in Baker Hughes were worth $13,061,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in BKR. Creative Planning boosted its stake in shares of Baker Hughes by 12.3% during the 3rd quarter. Creative Planning now owns 69,572 shares of the company’s stock worth $2,515,000 after acquiring an additional 7,596 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Baker Hughes by 177.1% during the 3rd quarter. Blue Trust Inc. now owns 13,644 shares of the company’s stock worth $480,000 after acquiring an additional 8,720 shares in the last quarter. U S Global Investors Inc. purchased a new stake in shares of Baker Hughes during the 3rd quarter worth about $362,000. Cetera Trust Company N.A boosted its stake in shares of Baker Hughes by 8,538.3% during the 3rd quarter. Cetera Trust Company N.A now owns 16,931 shares of the company’s stock worth $612,000 after acquiring an additional 16,735 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its stake in shares of Baker Hughes by 156.9% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 19,873 shares of the company’s stock worth $718,000 after acquiring an additional 12,137 shares in the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other 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 sale, 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Baker Hughes Stock Up 1.3 %

BKR stock opened at $46.98 on Wednesday. The company has a market cap of $46.49 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 2.07 and a beta of 1.39. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. Baker Hughes has a 12 month low of $28.66 and a 12 month high of $49.40. The firm has a 50-day moving average of $43.91 and a two-hundred day moving average of $39.91.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Thursday, January 30th. The company reported $0.70 EPS for the quarter, beating 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%. As a group, analysts forecast that Baker Hughes will post 2.57 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th will be paid a $0.23 dividend. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $0.92 annualized dividend and a dividend yield of 1.96%. Baker Hughes’s dividend payout ratio is 28.19%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BKR. Jefferies Financial Group increased 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. Barclays increased their target price on shares of Baker Hughes from $51.00 to $55.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Piper Sandler upped their price target on shares of Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Wells Fargo & Company upped their price target on shares of Baker Hughes from $49.00 to $54.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Susquehanna upped their price target on shares of Baker Hughes from $53.00 to $55.00 and gave the stock a “positive” rating in a research report on Monday, February 3rd. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Baker Hughes presently has an average rating of “Moderate Buy” and a consensus target price of $51.06.

Baker Hughes 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.