Commonwealth Equity Services LLC Acquires 154,618 Shares of Baker Hughes (NASDAQ:BKR)

Commonwealth Equity Services LLC grew its holdings in Baker Hughes (NASDAQ:BKR) by 516.8% during the 4th quarter, Holdings Channel reports. The firm owned 184,535 shares of the company’s stock after purchasing an additional 154,618 shares during the period. Commonwealth Equity Services LLC’s holdings in Baker Hughes were worth $7,570,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Strategic Financial Concepts LLC bought a new position in Baker Hughes during the 4th quarter worth approximately $640,000. Burney Co. boosted its stake in Baker Hughes by 315.0% during the 4th quarter. Burney Co. now owns 138,788 shares of the company’s stock worth $5,693,000 after acquiring an additional 105,349 shares during the last quarter. Northstar Advisory Group LLC bought a new position in Baker Hughes during the 4th quarter worth approximately $1,180,000. Artemis Investment Management LLP boosted its stake in Baker Hughes by 29.4% during the 4th quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company’s stock worth $43,233,000 after acquiring an additional 239,773 shares during the last quarter. Finally, Czech National Bank boosted its stake in Baker Hughes by 6.0% during the 4th quarter. Czech National Bank now owns 214,549 shares of the company’s stock worth $8,801,000 after acquiring an additional 12,178 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Price Performance

Shares of BKR opened at $44.69 on Friday. The company has a market cap of $44.25 billion, a price-to-earnings ratio of 15.00, a PEG ratio of 2.00 and a beta of 1.30. Baker Hughes has a 1-year low of $30.93 and a 1-year high of $49.40. The company’s fifty day simple moving average is $44.95 and its 200 day simple moving average is $41.26. 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) last issued 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%. On average, research analysts forecast that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

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

Insiders Place Their Bets

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes 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 directly owns 173,302 shares of the company’s stock, valued at $7,758,730.54. The trade was a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BKR. Piper Sandler lifted their price objective on shares of Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. 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. Wells Fargo & Company raised their target price on shares of Baker Hughes from $49.00 to $54.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Royal Bank of Canada raised their target price 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. Finally, 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. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.06.

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.