Baker Hughes (NASDAQ:BKR) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC raised its holdings in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 17.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 155,580 shares of the company's stock after purchasing an additional 22,928 shares during the period. Cerity Partners LLC's holdings in Baker Hughes were worth $6,177,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. JFS Wealth Advisors LLC lifted its holdings in shares of Baker Hughes by 135.9% in the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company's stock valued at $27,000 after buying an additional 386 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Baker Hughes in the 4th quarter valued at $30,000. Larson Financial Group LLC raised its position in Baker Hughes by 41.2% during the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company's stock worth $30,000 after acquiring an additional 216 shares during the period. Continuum Advisory LLC increased its stake in shares of Baker Hughes by 442.2% during the third quarter. Continuum Advisory LLC now owns 976 shares of the company's stock worth $35,000 after purchasing an additional 796 shares in the last quarter. Finally, Kestra Investment Management LLC purchased a new stake in shares of Baker Hughes during the fourth quarter worth about $45,000. Hedge funds and other institutional investors own 92.06% of the company's stock.

Baker Hughes Stock Up 0.9 %

NASDAQ:BKR traded up $0.35 during trading hours on Tuesday, hitting $38.16. The company's stock had a trading volume of 5,098,331 shares, compared to its average volume of 6,877,985. The stock has a market capitalization of $37.78 billion, a P/E ratio of 12.81, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. Baker Hughes has a 52-week low of $30.93 and a 52-week high of $49.40. The stock has a fifty day moving average of $43.01 and a 200-day moving average of $42.08.

Remove Ads

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (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%. On average, equities analysts forecast that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders 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 2.41%. This is a boost from Baker Hughes's previous quarterly dividend of $0.21. Baker Hughes's dividend payout ratio (DPR) is currently 30.87%.

Insider Transactions at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $44.77, for a total transaction of $358,160.00. Following the sale, the executive vice president now owns 173,302 shares in the company, valued at approximately $7,758,730.54. This represents a 4.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.25% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on BKR shares. Wells Fargo & Company increased their target price on Baker Hughes from $49.00 to $54.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Piper Sandler raised 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. Citigroup dropped their target price on shares of Baker Hughes from $54.00 to $53.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. TD Cowen lowered their price target 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. Finally, Benchmark reissued a "buy" rating and issued a $57.00 target price on shares of Baker Hughes in a research note on Tuesday, February 11th. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, Baker Hughes currently has an average rating of "Moderate Buy" and a consensus target price of $50.65.

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.