Mindset Wealth Management LLC Acquires Shares of 14,822 Baker Hughes (NASDAQ:BKR)

Mindset Wealth Management LLC purchased a new stake in Baker Hughes (NASDAQ:BKR - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 14,822 shares of the company's stock, valued at approximately $608,000.

A number of other hedge funds have also recently added to or reduced their stakes in BKR. Geode Capital Management LLC lifted its position in shares of Baker Hughes by 0.5% in 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 during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in Baker Hughes by 34.7% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company's stock worth $394,775,000 after purchasing an additional 2,811,940 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in 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 worth $348,233,000 after purchasing an additional 145,537 shares during the period. Raymond James Financial Inc. acquired a new position in Baker Hughes during the fourth quarter valued at approximately $291,289,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Baker Hughes by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,086,903 shares of the company's stock valued at $290,705,000 after purchasing an additional 135,200 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company's stock.

Remove Ads

Insider Activity at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of the firm's 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 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 trade represents a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.25% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

BKR has been the subject of several recent analyst reports. TD Cowen decreased their price objective 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. The Goldman Sachs Group raised their price target on Baker Hughes from $51.00 to $52.00 and gave the company a "buy" rating in a research report on Thursday, January 23rd. Stifel Nicolaus boosted their price objective on Baker Hughes from $48.00 to $54.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Royal Bank of Canada raised their target price on Baker Hughes from $49.00 to $53.00 and gave the company an "outperform" rating in a report on Monday, February 3rd. Finally, Barclays lifted their price target on Baker Hughes from $51.00 to $55.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $51.06.

Baker Hughes Price Performance

NASDAQ BKR traded up $0.65 during trading on Monday, reaching $44.76. 1,987,108 shares of the company traded hands, compared to its average volume of 6,263,061. Baker Hughes has a 1-year low of $30.93 and a 1-year high of $49.40. 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 stock's 50 day moving average price is $44.97 and its two-hundred day moving average price is $41.42. The company has a market cap of $44.32 billion, a price-to-earnings ratio of 15.02, a P/E/G ratio of 2.00 and a beta of 1.30.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, beating 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%. As a group, analysts anticipate that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.06%. This is a boost from Baker Hughes's previous quarterly dividend of $0.21. Baker Hughes's dividend payout ratio (DPR) is 30.87%.

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.