Avantax Advisory Services Inc. Grows Position in Baker Hughes (NASDAQ:BKR)

Avantax Advisory Services Inc. boosted its position in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 38.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,396 shares of the company's stock after acquiring an additional 6,194 shares during the quarter. Avantax Advisory Services Inc.'s holdings in Baker Hughes were worth $919,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Strategic Financial Concepts LLC purchased a new stake in shares of Baker Hughes in the 4th quarter worth $640,000. Burney Co. raised its stake in shares of Baker Hughes by 315.0% in the fourth quarter. Burney Co. now owns 138,788 shares of the company's stock worth $5,693,000 after buying an additional 105,349 shares during the period. Northstar Advisory Group LLC purchased a new position in shares of Baker Hughes during the 4th quarter valued at about $1,180,000. Artemis Investment Management LLP grew its stake in shares of Baker Hughes by 29.4% during the 4th quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company's stock valued at $43,233,000 after acquiring an additional 239,773 shares during the period. Finally, Czech National Bank increased its holdings in Baker Hughes by 6.0% in the 4th quarter. Czech National Bank now owns 214,549 shares of the company's stock worth $8,801,000 after acquiring an additional 12,178 shares in the last quarter. Institutional investors own 92.06% of the company's stock.

Insider Activity at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction on Monday, January 27th. The stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the transaction, the executive vice president now directly owns 173,302 shares in the company, valued at approximately $7,758,730.54. This trade represents a 4.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.25% of the stock is owned by company insiders.

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Baker Hughes Trading Up 1.1 %

Baker Hughes stock traded up $0.49 during mid-day trading on Monday, hitting $44.60. The company's stock had a trading volume of 9,528,585 shares, compared to its average volume of 6,292,886. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. The company has a 50 day moving average of $44.97 and a 200-day moving average of $41.42. Baker Hughes has a one year low of $30.93 and a one year high of $49.40. The stock has a market cap of $44.16 billion, a PE ratio of 14.97, a P/E/G ratio of 2.00 and a beta of 1.30.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted 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 net margin of 10.70% and a return on equity of 14.58%. On average, research analysts anticipate that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.06%. The ex-dividend date was Tuesday, February 11th. This is an increase from Baker Hughes's previous quarterly dividend of $0.21. Baker Hughes's payout ratio is currently 30.87%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on BKR shares. Barclays lifted their price target on shares of Baker Hughes from $51.00 to $55.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. TD Cowen dropped their target price on shares of Baker Hughes from $53.00 to $51.00 and set a "buy" rating for the company in a report on Wednesday, January 8th. Bank of America raised their price target on Baker Hughes from $42.00 to $48.00 and gave the company a "buy" rating in a report on Wednesday, December 18th. The Goldman Sachs Group upped their price objective on Baker Hughes from $51.00 to $52.00 and gave the stock a "buy" rating in a research note on Thursday, January 23rd. Finally, Evercore ISI increased their target price on Baker Hughes from $46.00 to $52.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 15th. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $51.06.

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.