Strategic Financial Concepts LLC Acquires New Holdings in Baker Hughes (NASDAQ:BKR)

Strategic Financial Concepts LLC acquired a new stake in shares of Baker Hughes (NASDAQ:BKR - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 15,609 shares of the company's stock, valued at approximately $640,000.

Other large investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in Baker Hughes during the 3rd quarter valued at $30,000. True Wealth Design LLC boosted its stake in Baker Hughes by 2,181.6% during the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company's stock valued at $31,000 after acquiring an additional 829 shares during the last quarter. Groupama Asset Managment boosted its stake in Baker Hughes by 1,045.1% during the 3rd quarter. Groupama Asset Managment now owns 889,378 shares of the company's stock valued at $32,000 after acquiring an additional 811,711 shares during the last quarter. Continuum Advisory LLC boosted its stake in Baker Hughes by 442.2% during the 3rd quarter. Continuum Advisory LLC now owns 976 shares of the company's stock valued at $35,000 after acquiring an additional 796 shares during the last quarter. Finally, Eastern Bank raised its holdings in shares of Baker Hughes by 598.4% during the fourth quarter. Eastern Bank now owns 1,739 shares of the company's stock worth $71,000 after purchasing an additional 1,490 shares during the period. 92.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on BKR shares. TD Cowen dropped their target price on shares of Baker Hughes from $53.00 to $51.00 and set a "buy" rating on the stock in a report on Wednesday, January 8th. The Goldman Sachs Group increased their target price on shares of Baker Hughes from $51.00 to $52.00 and gave the stock a "buy" rating in a report on Thursday, January 23rd. Royal Bank of Canada increased their price objective on shares of Baker Hughes from $49.00 to $53.00 and gave the stock an "outperform" rating in a report on Monday, February 3rd. Citigroup increased their price objective on shares of Baker Hughes from $42.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. Finally, Bank of America increased their price objective on shares of Baker Hughes from $42.00 to $48.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, Baker Hughes currently has a consensus rating of "Moderate Buy" and a consensus price target of $51.06.

Baker Hughes Trading Down 3.2 %

Shares of BKR traded down $1.48 during midday trading on Friday, hitting $45.43. The stock had a trading volume of 3,233,149 shares, compared to its average volume of 7,383,589. Baker Hughes has a fifty-two week low of $28.88 and a fifty-two week high of $49.40. The business has a 50-day simple moving average of $44.21 and a two-hundred day simple moving average of $40.09. The firm has a market cap of $44.98 billion, a P/E ratio of 15.25, a price-to-earnings-growth ratio of 2.06 and a beta of 1.39. 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 (NASDAQ:BKR - Get Free Report) last posted 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 net margin of 10.70% and a return on equity of 14.58%. As a group, equities analysts forecast 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 will be paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.03%. This is a positive change from Baker Hughes's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Tuesday, February 11th. Baker Hughes's dividend payout ratio is 30.87%.

Insider Transactions at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $44.77, for a total value 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 represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.25% of the stock is owned by insiders.

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.