Baker Hughes (NASDAQ:BKR) Position Raised by Adams Natural Resources Fund Inc.

Adams Natural Resources Fund Inc. grew its position in Baker Hughes (NASDAQ:BKR) by 7.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 428,100 shares of the company’s stock after acquiring an additional 29,300 shares during the quarter. Baker Hughes comprises about 2.8% of Adams Natural Resources Fund Inc.’s portfolio, making the stock its 9th largest position. Adams Natural Resources Fund Inc.’s holdings in Baker Hughes were worth $17,561,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Quest Partners LLC lifted its holdings in Baker Hughes by 446,900.0% during the 3rd quarter. Quest Partners LLC now owns 4,470 shares of the company’s stock valued at $162,000 after buying an additional 4,469 shares in the last quarter. Caprock Group LLC raised its stake in shares of Baker Hughes by 11.4% during the third quarter. Caprock Group LLC now owns 33,955 shares of the company’s stock valued at $1,227,000 after acquiring an additional 3,475 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Baker Hughes by 13.0% during the third quarter. PNC Financial Services Group Inc. now owns 134,735 shares of the company’s stock valued at $4,871,000 after acquiring an additional 15,477 shares in the last quarter. Commerce Bank boosted its holdings in shares of Baker Hughes by 3.1% in the third quarter. Commerce Bank now owns 30,775 shares of the company’s stock valued at $1,113,000 after purchasing an additional 921 shares during the period. Finally, Advisors Asset Management Inc. grew its stake in Baker Hughes by 20.4% in the third quarter. Advisors Asset Management Inc. now owns 89,488 shares of the company’s stock worth $3,235,000 after purchasing an additional 15,172 shares in the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction dated 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 owns 173,302 shares of the company’s stock, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.25% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BKR. Stifel Nicolaus upped their target price on Baker Hughes from $48.00 to $54.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Piper Sandler upped 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. Susquehanna raised their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the company a “positive” rating in a research report on Monday, February 3rd. Evercore ISI upped their price target on shares of Baker Hughes from $46.00 to $52.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 15th. Finally, Jefferies Financial Group lifted their price objective on shares of Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, Baker Hughes presently has an average rating of “Moderate Buy” and a consensus target price of $51.06.

Baker Hughes Trading Down 1.3 %

Shares of NASDAQ:BKR opened at $44.11 on Friday. Baker Hughes has a 1 year low of $30.93 and a 1 year high of $49.40. The firm has a market capitalization of $43.67 billion, a P/E ratio of 14.80, a P/E/G ratio of 2.00 and a beta of 1.30. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. The business’s 50-day moving average is $44.97 and its 200 day moving average is $41.32.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Thursday, January 30th. The company reported $0.70 EPS for the quarter, beating the consensus estimate 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 predict 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. Stockholders of record on Tuesday, February 11th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This is a positive change 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 2.09%. Baker Hughes’s payout ratio is 30.87%.

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.