Bank of New Hampshire Trims Stock Holdings in Baker Hughes (NASDAQ:BKR)

Bank of New Hampshire lowered its holdings in Baker Hughes (NASDAQ:BKR) by 4.6% in the second quarter, HoldingsChannel reports. The firm owned 6,557 shares of the company’s stock after selling 317 shares during the period. Bank of New Hampshire’s holdings in Baker Hughes were worth $231,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale raised its stake in Baker Hughes by 29.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 420,504 shares of the company’s stock valued at $14,038,000 after buying an additional 96,471 shares in the last quarter. Cetera Advisors LLC raised its position in shares of Baker Hughes by 55.8% during the 1st quarter. Cetera Advisors LLC now owns 9,319 shares of the company’s stock worth $312,000 after purchasing an additional 3,339 shares during the period. Swedbank AB acquired a new stake in shares of Baker Hughes during the 1st quarter worth approximately $17,706,000. Wahed Invest LLC raised its position in shares of Baker Hughes by 11.9% during the 1st quarter. Wahed Invest LLC now owns 19,356 shares of the company’s stock worth $648,000 after purchasing an additional 2,058 shares during the period. Finally, New Covenant Trust Company N.A. acquired a new stake in shares of Baker Hughes during the 1st quarter worth approximately $34,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Price Performance

Shares of BKR traded down $1.91 during trading hours on Friday, hitting $35.74. 8,698,273 shares of the company were exchanged, compared to its average volume of 6,407,531. The company has a market capitalization of $35.50 billion, a PE ratio of 19.97, a PEG ratio of 0.61 and a beta of 1.41. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 0.86. The firm has a fifty day simple moving average of $34.17 and a 200-day simple moving average of $32.47. Baker Hughes has a one year low of $28.32 and a one year high of $39.05.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.08. The business had revenue of $7.10 billion during the quarter, compared to analyst estimates of $6.81 billion. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The company’s revenue was up 12.4% compared to the same quarter last year. During the same period last year, the company posted $0.39 EPS. As a group, sell-side analysts predict that Baker Hughes will post 2.2 earnings per share for the current year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Tuesday, August 6th will be issued a $0.21 dividend. The ex-dividend date is Tuesday, August 6th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.35%. Baker Hughes’s payout ratio is currently 46.93%.

Insider Activity

In other news, EVP Maria C. Borras sold 55,980 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $32.00, for a total value of $1,791,360.00. Following the completion of the sale, the executive vice president now owns 92,035 shares in the company, valued at $2,945,120. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BKR. Benchmark reissued a “buy” rating and issued a $40.00 price objective on shares of Baker Hughes in a report on Friday, July 26th. Wells Fargo & Company increased their price objective on Baker Hughes from $35.00 to $40.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Jefferies Financial Group increased their price objective on Baker Hughes from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, July 29th. TD Cowen increased their price objective on Baker Hughes from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Finally, Morgan Stanley increased their price objective on Baker Hughes from $40.00 to $43.00 in a report on Tuesday, April 23rd. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

About Baker Hughes

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.