Baker Hughes (NASDAQ:BKR) Shares Acquired by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC grew its stake in Baker Hughes (NASDAQ:BKR) by 24.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,455 shares of the company’s stock after purchasing an additional 4,869 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Baker Hughes were worth $1,003,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Empirical Finance LLC grew its position in shares of Baker Hughes by 44.9% in the fourth quarter. Empirical Finance LLC now owns 44,982 shares of the company’s stock valued at $1,845,000 after purchasing an additional 13,933 shares during the period. Apollon Wealth Management LLC grew its position in shares of Baker Hughes by 13.5% in the fourth quarter. Apollon Wealth Management LLC now owns 27,058 shares of the company’s stock valued at $1,110,000 after purchasing an additional 3,227 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Baker Hughes by 2.5% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 110,092 shares of the company’s stock worth $4,516,000 after acquiring an additional 2,685 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in Baker Hughes during the fourth quarter worth about $640,000. Finally, Bleakley Financial Group LLC boosted its position in Baker Hughes by 1.8% during the fourth quarter. Bleakley Financial Group LLC now owns 20,984 shares of the company’s stock worth $861,000 after acquiring an additional 380 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. 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. Bank of America boosted their price target on shares of Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Royal Bank of Canada boosted their price target on shares of Baker Hughes from $49.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Piper Sandler boosted their price target on shares of Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Stifel Nicolaus boosted their price target on shares of Baker Hughes from $48.00 to $54.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.06.

Baker Hughes Stock Down 0.6 %

Shares of NASDAQ:BKR opened at $46.15 on Friday. The stock has a market cap of $45.67 billion, a P/E ratio of 15.49, a P/E/G ratio of 2.07 and a beta of 1.39. The firm has a fifty day moving average price of $43.64 and a 200 day moving average price of $39.73. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. Baker Hughes has a 1-year low of $28.63 and a 1-year high of $49.40.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data 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%. Sell-side analysts predict that Baker Hughes will post 2.57 EPS for the current year.

Baker Hughes Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.99%. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s dividend payout ratio is presently 28.19%.

Insiders Place Their Bets

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction 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. 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 the SEC website. 0.25% of the stock is owned by insiders.

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.