Kornitzer Capital Management Inc. KS Has $6.47 Million Position in Baker Hughes (NASDAQ:BKR)

Kornitzer Capital Management Inc. KS lowered its holdings in shares of Baker Hughes (NASDAQ:BKR) by 1.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 157,810 shares of the company’s stock after selling 1,930 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Baker Hughes were worth $6,473,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake in Baker Hughes by 0.5% during the third quarter. Geode Capital Management LLC now owns 24,078,093 shares of the company’s stock worth $867,514,000 after buying an additional 123,172 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in Baker Hughes by 34.7% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock worth $394,775,000 after buying an additional 2,811,940 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Baker Hughes by 1.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,633,006 shares of the company’s stock valued at $348,233,000 after acquiring an additional 145,537 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Baker Hughes by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,951,703 shares of the company’s stock valued at $251,304,000 after acquiring an additional 22,383 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Baker Hughes by 0.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,541,076 shares of the company’s stock valued at $230,271,000 after acquiring an additional 45,324 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Price Performance

Shares of BKR stock opened at $46.98 on Wednesday. The stock has a 50-day moving average price of $44.03 and a 200 day moving average price of $39.99. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The firm 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. Baker Hughes has a 12 month low of $28.66 and a 12 month high of $49.40.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Thursday, January 30th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. Research analysts expect that Baker Hughes will post 2.57 EPS for the current year.

Baker Hughes Increases Dividend

The business 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. The ex-dividend date is Tuesday, February 11th. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.96%. Baker Hughes’s dividend payout ratio is 28.19%.

Analyst Ratings Changes

A number of brokerages have issued reports on BKR. Barclays lifted their price objective on Baker Hughes from $51.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Royal Bank of Canada lifted their price objective on Baker Hughes from $49.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Piper Sandler lifted their price objective on Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Bank of America lifted their price objective on Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. lifted their price objective on Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, Baker Hughes currently has a consensus rating of “Moderate Buy” and an average target price of $51.06.

Insider Activity

In other news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction dated Monday, January 27th. The stock was 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 directly 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.25% of the stock is currently owned by company 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.