Baker Hughes Company (NASDAQ:BKR) Shares Bought by Premier Path Wealth Partners LLC

Premier Path Wealth Partners LLC grew its holdings in Baker Hughes Company (NASDAQ:BKR) by 6.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,315 shares of the company’s stock after acquiring an additional 406 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in Baker Hughes were worth $278,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Norges Bank purchased a new stake in shares of Baker Hughes during the fourth quarter valued at $829,092,000. Raymond James Financial Inc. purchased a new stake in Baker Hughes during the 4th quarter valued at about $291,289,000. Neuberger Berman Group LLC increased its holdings in shares of Baker Hughes by 2,527.6% in the fourth quarter. Neuberger Berman Group LLC now owns 3,319,418 shares of the company’s stock valued at $136,158,000 after purchasing an additional 3,193,089 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Baker Hughes in the fourth quarter valued at about $128,542,000. Finally, FMR LLC raised its stake in shares of Baker Hughes by 12.5% in the fourth quarter. FMR LLC now owns 15,702,057 shares of the company’s stock worth $644,098,000 after purchasing an additional 1,744,225 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Up 0.1%

Baker Hughes stock opened at $39.00 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.93. The stock has a market capitalization of $38.64 billion, a PE ratio of 13.31, a price-to-earnings-growth ratio of 4.14 and a beta of 0.91. The business has a 50 day simple moving average of $37.52 and a 200-day simple moving average of $41.23. Baker Hughes Company has a 12 month low of $32.25 and a 12 month high of $49.40.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. The company had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.54 billion. Baker Hughes had a net margin of 10.51% and a return on equity of 14.70%. On average, analysts anticipate that Baker Hughes Company 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. Stockholders of record on Tuesday, May 6th were paid a dividend of $0.23 per share. The ex-dividend date was Tuesday, May 6th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.36%. Baker Hughes’s dividend payout ratio is currently 31.40%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BKR. Evercore ISI dropped 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. Stifel Nicolaus set a $50.00 price objective on shares of Baker Hughes and gave the company a “buy” rating in a research note on Thursday, April 24th. Piper Sandler cut their price objective on shares of Baker Hughes from $53.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Susquehanna decreased 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 report on Thursday, April 24th. Finally, TD Securities cut their price target on Baker Hughes from $50.00 to $49.00 and set a “buy” 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 given a buy rating to the company. According to data from MarketBeat.com, Baker Hughes has an average rating of “Moderate Buy” and a consensus target price of $49.11.

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.