Cetera Investment Advisers Grows Position in Baker Hughes (NASDAQ:BKR)

Cetera Investment Advisers raised its holdings in shares of Baker Hughes (NASDAQ:BKR) by 225.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,039 shares of the company’s stock after buying an additional 57,556 shares during the quarter. Cetera Investment Advisers’ holdings in Baker Hughes were worth $3,406,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. JFS Wealth Advisors LLC grew its holdings in shares of Baker Hughes by 135.9% in the fourth quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock valued at $27,000 after purchasing an additional 386 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Baker Hughes in the fourth quarter valued at about $30,000. Larson Financial Group LLC lifted its position in 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 during the last quarter. Kestra Investment Management LLC purchased a new position in Baker Hughes during the fourth quarter worth about $45,000. Finally, OFI Invest Asset Management purchased a new position in Baker Hughes during the fourth quarter worth about $47,000. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on BKR shares. Benchmark reaffirmed a “buy” rating and set a $57.00 target price on shares of Baker Hughes in a research note on Tuesday, February 11th. Susquehanna lowered their target price on shares of Baker Hughes from $48.00 to $46.00 and set a “positive” rating for the company in a research note on Thursday, April 24th. Royal Bank of Canada lowered their target price on shares of Baker Hughes from $50.00 to $46.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. JPMorgan Chase & Co. increased their target price on shares of Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Citigroup lowered their target price on shares of Baker Hughes from $54.00 to $53.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $49.11.

Baker Hughes Stock Performance

Shares of Baker Hughes stock opened at $37.79 on Friday. The firm has a market capitalization of $37.44 billion, a P/E ratio of 12.68, a P/E/G ratio of 2.00 and a beta of 0.96. Baker Hughes has a 52 week low of $30.93 and a 52 week high of $49.40. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The firm’s 50 day moving average is $39.30 and its two-hundred day moving average is $42.02.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. The company had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.54 billion. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. Research analysts forecast that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th were paid a $0.23 dividend. The ex-dividend date was Tuesday, May 6th. This represents a $0.92 annualized dividend and a yield of 2.43%. Baker Hughes’s dividend payout ratio is currently 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.