PNC Financial Services Group Inc. Has $5.78 Million Stock Position in Baker Hughes (NASDAQ:BKR)

PNC Financial Services Group Inc. increased its stake in Baker Hughes (NASDAQ:BKR) by 4.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 140,893 shares of the company’s stock after buying an additional 6,158 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Baker Hughes were worth $5,779,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Strategic Financial Concepts LLC acquired a new stake in shares of Baker Hughes in the 4th quarter valued at approximately $640,000. Burney Co. boosted its holdings in shares of Baker Hughes by 315.0% in the 4th quarter. Burney Co. now owns 138,788 shares of the company’s stock valued at $5,693,000 after buying an additional 105,349 shares during the last quarter. Northstar Advisory Group LLC acquired a new stake in shares of Baker Hughes in the 4th quarter valued at approximately $1,180,000. Artemis Investment Management LLP boosted its holdings in shares of Baker Hughes by 29.4% in the 4th quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company’s stock valued at $43,233,000 after buying an additional 239,773 shares during the last quarter. Finally, Czech National Bank boosted its holdings in shares of Baker Hughes by 6.0% in the 4th quarter. Czech National Bank now owns 214,549 shares of the company’s stock valued at $8,801,000 after buying an additional 12,178 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Analyst Upgrades and Downgrades

BKR has been the subject of several recent analyst reports. TD Cowen cut their price objective on Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Benchmark reaffirmed a “buy” rating and set a $57.00 price target on shares of Baker Hughes in a report on Tuesday, February 11th. Barclays raised their price target on Baker Hughes from $51.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Atb Cap Markets downgraded Baker Hughes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, Wells Fargo & Company raised their price target on Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, Baker Hughes presently has a consensus rating of “Moderate Buy” and an average price target of $51.06.

Baker Hughes Stock Up 1.5 %

Shares of NASDAQ BKR opened at $42.48 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. Baker Hughes has a 52 week low of $30.93 and a 52 week high of $49.40. The stock has a market capitalization of $42.06 billion, a P/E ratio of 14.26, a PEG ratio of 2.00 and a beta of 1.30. The stock’s fifty day moving average is $44.87 and its 200 day moving average is $40.95.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results 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%. Sell-side analysts forecast that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were given a $0.23 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.17%. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s dividend payout ratio (DPR) is presently 30.87%.

Insider Buying and Selling

In related news, EVP Maria C. Borras sold 8,000 shares of the firm’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 sale, the executive vice president now directly owns 173,302 shares of the company’s stock, valued at $7,758,730.54. This trade represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.25% of the stock is owned by company insiders.

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.