Summit Financial LLC Invests $213,000 in Baker Hughes (NASDAQ:BKR)

Summit Financial LLC bought a new stake in Baker Hughes (NASDAQ:BKR) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,197 shares of the company’s stock, valued at approximately $213,000.

A number of other large investors also recently made changes to their positions in BKR. Dynasty Wealth Management LLC boosted its holdings in Baker Hughes by 2.7% in the 4th quarter. Dynasty Wealth Management LLC now owns 7,904 shares of the company’s stock valued at $324,000 after purchasing an additional 207 shares during the period. Larson Financial Group LLC raised its position in shares of Baker Hughes by 41.2% in the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock valued at $30,000 after buying an additional 216 shares in the last quarter. Alpine Woods Capital Investors LLC boosted its stake in shares of Baker Hughes by 0.7% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 40,467 shares of the company’s stock valued at $1,660,000 after buying an additional 267 shares during the period. Cromwell Holdings LLC grew its position in Baker Hughes by 9.3% during the fourth quarter. Cromwell Holdings LLC now owns 3,169 shares of the company’s stock worth $130,000 after buying an additional 269 shares in the last quarter. Finally, 180 Wealth Advisors LLC increased its stake in Baker Hughes by 1.3% during the 4th quarter. 180 Wealth Advisors LLC now owns 22,506 shares of the company’s stock worth $923,000 after acquiring an additional 295 shares during the period. Institutional investors own 92.06% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on BKR. Evercore ISI increased their target price on Baker Hughes from $46.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, January 15th. The Goldman Sachs Group increased their price objective on shares of Baker Hughes from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. TD Cowen dropped their target price on shares of Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Susquehanna increased their price target on shares of Baker Hughes from $53.00 to $55.00 and gave the stock a “positive” rating in a research report on Monday, February 3rd. Finally, Piper Sandler boosted their price objective on shares of Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $51.00.

Baker Hughes Trading Down 13.3 %

BKR opened at $35.41 on Friday. The company’s 50 day moving average price is $44.40 and its two-hundred day moving average price is $41.97. The firm has a market capitalization of $35.06 billion, a price-to-earnings ratio of 11.88, a PEG ratio of 2.00 and a beta of 1.08. Baker Hughes has a fifty-two week low of $30.93 and a fifty-two week high of $49.40. 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 (NASDAQ:BKR) last issued its quarterly earnings data on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, topping 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%. As a group, research analysts predict that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were issued a $0.23 dividend. The ex-dividend date was Tuesday, February 11th. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a yield of 2.60%. Baker Hughes’s dividend payout ratio is presently 30.87%.

Insider Buying and Selling at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 173,302 shares in the company, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.25% of the company’s stock.

About Baker Hughes

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.