Strategic Financial Concepts LLC Makes New Investment in Baker Hughes (NASDAQ:BKR)

Strategic Financial Concepts LLC purchased a new position in shares of Baker Hughes (NASDAQ:BKR - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 15,609 shares of the company's stock, valued at approximately $640,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in shares of Baker Hughes during the third quarter valued at approximately $30,000. True Wealth Design LLC boosted its holdings in Baker Hughes by 2,181.6% during the third quarter. True Wealth Design LLC now owns 867 shares of the company's stock worth $31,000 after buying an additional 829 shares in the last quarter. Groupama Asset Managment boosted its holdings in Baker Hughes by 1,045.1% during the third quarter. Groupama Asset Managment now owns 889,378 shares of the company's stock worth $32,000 after buying an additional 811,711 shares in the last quarter. Continuum Advisory LLC boosted its holdings in 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 buying an additional 796 shares in the last quarter. Finally, Eastern Bank boosted its holdings in 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 buying an additional 1,490 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company's stock.

Wall Street Analyst Weigh In

BKR has been the subject of a number of research reports. The Goldman Sachs Group raised 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. JPMorgan Chase & Co. raised their price objective on shares of Baker Hughes from $50.00 to $52.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Jefferies Financial Group raised their price objective on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a "buy" rating in a research note on Friday, January 3rd. 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 research note on Wednesday, January 8th. Finally, Atb Cap Markets lowered shares of Baker Hughes from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 10th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $51.06.

Insider Buying and Selling

In related news, EVP Maria C. Borras sold 8,000 shares of the business's stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $44.77, for a total transaction of $358,160.00. Following the completion of the transaction, the executive vice president now owns 173,302 shares in the company, valued at approximately $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 can be accessed through this link. 0.25% of the stock is currently owned by insiders.

Baker Hughes Price Performance

NASDAQ:BKR traded up $0.25 on Friday, reaching $46.40. The stock had a trading volume of 4,850,154 shares, compared to its average volume of 8,438,286. The company has a market capitalization of $45.91 billion, a P/E ratio of 15.57, a price-to-earnings-growth ratio of 2.07 and a beta of 1.39. Baker Hughes has a 1-year low of $28.66 and a 1-year high of $49.40. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The stock has a fifty day moving average price of $43.81 and a 200-day moving average price of $39.83.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share 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%. Research analysts forecast that Baker Hughes will post 2.57 EPS for the current year.

Baker Hughes Increases Dividend

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

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.