Sunbelt Securities Inc. Grows Position in Baker Hughes (NASDAQ:BKR)

Sunbelt Securities Inc. grew its stake in Baker Hughes (NASDAQ:BKR) by 2,582.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,165 shares of the company’s stock after purchasing an additional 3,047 shares during the period. Sunbelt Securities Inc.’s holdings in Baker Hughes were worth $130,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of BKR. JFS Wealth Advisors LLC boosted its position 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 purchasing an additional 386 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in Baker Hughes in the 4th quarter worth approximately $30,000. Larson Financial Group LLC boosted its position in Baker Hughes by 41.2% in 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 in the last quarter. Kestra Investment Management LLC purchased a new stake in Baker Hughes in the 4th quarter worth approximately $45,000. Finally, OFI Invest Asset Management purchased a new stake in Baker Hughes in the 4th quarter worth approximately $47,000. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on BKR shares. JPMorgan Chase & Co. increased their target price on Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Piper Sandler decreased their target price on Baker Hughes from $53.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Morgan Stanley decreased their target price on Baker Hughes from $55.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, May 16th. Royal Bank of Canada decreased their target price on 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, Evercore ISI decreased their target price on Baker Hughes from $52.00 to $50.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $49.11.

Baker Hughes Stock Up 0.4%

NASDAQ BKR opened at $36.74 on Tuesday. The business has a fifty day moving average price of $38.56 and a 200 day moving average price of $41.93. Baker Hughes has a one year low of $30.93 and a one year high of $49.40. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. The company has a market cap of $36.40 billion, a P/E ratio of 12.33, a P/E/G ratio of 2.00 and a beta of 0.96.

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

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date was Tuesday, May 6th. Baker Hughes’s dividend payout ratio (DPR) is presently 31.40%.

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.