DDD Partners LLC Purchases New Position in Baker Hughes (NASDAQ:BKR)

DDD Partners LLC acquired a new stake in Baker Hughes (NASDAQ:BKR) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 323,394 shares of the company’s stock, valued at approximately $11,054,000. Baker Hughes accounts for approximately 1.5% of DDD Partners LLC’s portfolio, making the stock its 26th biggest holding.

Other large investors have also modified their holdings of the company. Miller Howard Investments Inc. NY raised its stake in shares of Baker Hughes by 0.5% during the third quarter. Miller Howard Investments Inc. NY now owns 55,658 shares of the company’s stock worth $1,966,000 after purchasing an additional 303 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of Baker Hughes by 0.9% during the second quarter. Ameritas Investment Partners Inc. now owns 34,422 shares of the company’s stock worth $1,088,000 after purchasing an additional 311 shares during the last quarter. Quarry LP raised its stake 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 purchasing an additional 331 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Baker Hughes by 3.4% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 10,652 shares of the company’s stock worth $315,000 after purchasing an additional 350 shares during the last quarter. Finally, Rational Advisors LLC raised its stake in shares of Baker Hughes by 44.0% during the third quarter. Rational Advisors LLC now owns 1,250 shares of the company’s stock worth $44,000 after purchasing an additional 382 shares during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Baker Hughes Stock Up 0.8 %

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

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

Baker Hughes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Tuesday, February 13th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.54%. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.20. The ex-dividend date was Monday, February 12th. Baker Hughes’s dividend payout ratio (DPR) is presently 43.98%.

Insiders Place Their Bets

In other news, SVP James E. Apostolides sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total value of $294,400.00. Following the transaction, the senior vice president now directly owns 14,451 shares in the company, valued at approximately $425,437.44. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.24% of the stock is owned by corporate insiders.

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.