DDD Partners LLC Purchases Shares of 323,394 Baker Hughes (NASDAQ:BKR)

DDD Partners LLC acquired a new stake in shares of Baker Hughes (NASDAQ:BKR) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 323,394 shares of the company’s stock, valued at approximately $11,054,000. Baker Hughes comprises about 1.5% of DDD Partners LLC’s portfolio, making the stock its 26th largest holding.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hall Laurie J Trustee purchased a new stake in shares of Baker Hughes in the third quarter valued at $28,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Baker Hughes in the fourth quarter valued at $33,000. OFI Invest Asset Management purchased a new stake in shares of Baker Hughes in the third quarter valued at $36,000. Rise Advisors LLC lifted its holdings in shares of Baker Hughes by 817.9% in the third quarter. Rise Advisors LLC now owns 1,129 shares of the company’s stock valued at $40,000 after purchasing an additional 1,006 shares in the last quarter. Finally, Quarry LP raised its holdings in shares of Baker Hughes by 41.3% during the second quarter. Quarry LP now owns 1,132 shares of the company’s stock worth $36,000 after acquiring an additional 331 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on BKR shares. Barclays cut their price objective on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating for the company in a report on Friday, January 26th. Citigroup lowered their target price on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, January 26th. Wolfe Research downgraded shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 29th. TD Cowen increased their target price on shares of Baker Hughes from $46.00 to $49.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $39.00 target price on shares of Baker Hughes in a research report on Thursday, February 1st. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Baker Hughes currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

Baker Hughes Stock Up 0.8 %

Shares of BKR stock opened at $33.09 on Thursday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.86 and a current ratio of 1.25. The firm’s 50-day moving average is $30.46 and its 200-day moving average is $32.87. The stock has a market cap of $33.12 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 0.69 and a beta of 1.41. Baker Hughes has a 52-week low of $26.81 and a 52-week high of $37.58.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Wednesday, January 24th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.04. The company had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $6.93 billion. Baker Hughes had a net margin of 7.62% and a return on equity of 10.63%. Baker Hughes’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.38 EPS. Sell-side analysts predict that Baker Hughes will post 2.03 EPS for the current year.

Baker Hughes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Tuesday, February 13th were issued a $0.21 dividend. This is a boost from Baker Hughes’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 2.54%. The ex-dividend date was Monday, February 12th. Baker Hughes’s dividend payout ratio is currently 43.98%.

Insider Buying and Selling at Baker Hughes

In other news, SVP James E. Apostolides sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total transaction of $294,400.00. Following the transaction, the senior vice president now directly owns 14,451 shares of the company’s stock, valued at $425,437.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.24% of the company’s stock.

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.