Van ECK Associates Corp Has $191.34 Million Holdings in Baker Hughes (NASDAQ:BKR)

Van ECK Associates Corp decreased its stake in shares of Baker Hughes (NASDAQ:BKR) by 16.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,664,610 shares of the company’s stock after selling 936,216 shares during the period. Van ECK Associates Corp owned 0.47% of Baker Hughes worth $191,343,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC increased its stake in Baker Hughes by 0.8% in 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 purchasing an additional 45,324 shares in the last quarter. Summit Trail Advisors LLC lifted its position in Baker Hughes by 44.1% during the 4th quarter. Summit Trail Advisors LLC now owns 9,340 shares of the company’s stock worth $383,000 after buying an additional 2,858 shares in the last quarter. Paladin Wealth LLC acquired a new position in shares of Baker Hughes during the 4th quarter worth approximately $456,000. Savant Capital LLC lifted its stake in Baker Hughes by 4.9% in the fourth quarter. Savant Capital LLC now owns 103,248 shares of the company’s stock valued at $4,235,000 after acquiring an additional 4,851 shares during the last quarter. Finally, Angeles Wealth Management LLC grew its holdings in Baker Hughes by 17.3% during the fourth quarter. Angeles Wealth Management LLC now owns 6,789 shares of the company’s stock worth $278,000 after purchasing an additional 1,002 shares during the period. 92.06% of the stock is owned by institutional investors.

Baker Hughes Stock Down 1.5 %

Shares of NASDAQ BKR opened at $46.41 on Thursday. The firm has a 50-day simple moving average of $43.56 and a two-hundred day simple moving average of $39.68. The company has a market cap of $45.92 billion, a P/E ratio of 15.57, a PEG ratio of 2.07 and a beta of 1.39. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. Baker Hughes has a 1 year low of $28.63 and a 1 year high of $49.40.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate 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 anticipate that Baker Hughes will post 2.57 earnings per share for the current year.

Baker Hughes Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th will be given a dividend of $0.23 per share. The ex-dividend date is Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.98%. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s dividend payout ratio is currently 28.19%.

Insider Activity at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $44.77, for a total transaction of $358,160.00. Following the transaction, the executive vice president now directly owns 173,302 shares of the company’s stock, valued at $7,758,730.54. The trade was a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Wells Fargo & Company increased their price objective on Baker Hughes from $49.00 to $54.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Argus upgraded Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. TD Cowen cut their target price on shares of Baker Hughes from $53.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Evercore ISI upped their price objective on Baker Hughes from $46.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday, January 15th. Finally, Atb Cap Markets cut Baker Hughes from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $51.06.

Baker Hughes 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.