Raiffeisen Bank International AG Takes Position in Baker Hughes (NASDAQ:BKR)

Raiffeisen Bank International AG purchased a new stake in shares of Baker Hughes (NASDAQ:BKR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 197,431 shares of the company’s stock, valued at approximately $8,082,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BKR. JFS Wealth Advisors LLC raised its stake in Baker Hughes by 135.9% in the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock worth $27,000 after acquiring an additional 386 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Baker Hughes during the 4th quarter worth about $30,000. Larson Financial Group LLC raised its position in shares of Baker Hughes by 41.2% during the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock worth $30,000 after purchasing an additional 216 shares during the last quarter. Kestra Investment Management LLC purchased a new stake in shares of Baker Hughes during the fourth quarter worth approximately $45,000. Finally, OFI Invest Asset Management acquired a new position in Baker Hughes during the fourth quarter worth about $47,000. 92.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Piper Sandler cut their price objective on shares of Baker Hughes from $53.00 to $50.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. The Goldman Sachs Group lifted their target price on Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Benchmark reaffirmed a “buy” rating and issued a $57.00 price target on shares of Baker Hughes in a research report on Tuesday, February 11th. Royal Bank of Canada dropped their price objective on shares of Baker Hughes from $50.00 to $46.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. Finally, TD Cowen reduced their price objective on shares of Baker Hughes from $50.00 to $49.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.11.

Baker Hughes Stock Performance

Shares of BKR stock opened at $37.73 on Friday. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $37.38 billion, a price-to-earnings ratio of 12.66, a P/E/G ratio of 2.00 and a beta of 0.96. The stock’s fifty day simple moving average is $39.39 and its 200-day simple moving average is $42.02. Baker Hughes has a 1-year low of $30.93 and a 1-year high of $49.40.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.03. The firm had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.54 billion. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. On average, sell-side analysts predict that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend is Tuesday, May 6th. Baker Hughes’s payout ratio is presently 31.40%.

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.