Adams Diversified Equity Fund Inc. Buys 107,300 Shares of Baker Hughes (NASDAQ:BKR)

Adams Diversified Equity Fund Inc. increased its stake in shares of Baker Hughes (NASDAQ:BKR) by 46.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 337,200 shares of the company’s stock after purchasing an additional 107,300 shares during the quarter. Adams Diversified Equity Fund Inc.’s holdings in Baker Hughes were worth $13,832,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of BKR. Thrivent Financial for Lutherans grew its stake in shares of Baker Hughes by 90.4% during the third quarter. Thrivent Financial for Lutherans now owns 447,673 shares of the company’s stock valued at $16,183,000 after purchasing an additional 212,520 shares during the last quarter. Quest Partners LLC lifted its holdings in Baker Hughes by 446,900.0% in the third quarter. Quest Partners LLC now owns 4,470 shares of the company’s stock valued at $162,000 after buying an additional 4,469 shares during the period. Caprock Group LLC lifted its holdings in Baker Hughes by 11.4% in the third quarter. Caprock Group LLC now owns 33,955 shares of the company’s stock valued at $1,227,000 after buying an additional 3,475 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Baker Hughes by 13.0% in the third quarter. PNC Financial Services Group Inc. now owns 134,735 shares of the company’s stock valued at $4,871,000 after buying an additional 15,477 shares during the period. Finally, Commerce Bank lifted its holdings in Baker Hughes by 3.1% in the third quarter. Commerce Bank now owns 30,775 shares of the company’s stock valued at $1,113,000 after buying an additional 921 shares during the period. 92.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BKR has been the topic of several analyst reports. Benchmark reiterated a “buy” rating and issued a $57.00 target price on shares of Baker Hughes in a report on Tuesday, February 11th. Atb Cap Markets lowered shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Susquehanna increased their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the stock a “positive” rating in a report on Monday, February 3rd. Stifel Nicolaus increased their target price on shares of Baker Hughes from $48.00 to $54.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Finally, Evercore ISI increased their target price on shares of Baker Hughes from $46.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, January 15th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, Baker Hughes presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.06.

Baker Hughes Stock Up 0.2 %

Baker Hughes stock opened at $44.69 on Friday. The company has a market cap of $44.25 billion, a P/E ratio of 15.00, a price-to-earnings-growth 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 company has a fifty day simple moving average of $44.95 and a 200 day simple moving average of $41.26. 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 (NASDAQ:BKR) last released its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share 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%. Research analysts anticipate that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis 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 dividend payout ratio (DPR) is 30.87%.

Insider Activity

In other news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction dated 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 trade represents a 4.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.25% of the company’s stock.

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.