EverSource Wealth Advisors LLC Has $163,000 Stock Position in Baker Hughes (NASDAQ:BKR)

EverSource Wealth Advisors LLC lessened its stake in Baker Hughes (NASDAQ:BKR) by 8.1% in the fourth quarter, HoldingsChannel reports. The firm owned 3,972 shares of the company’s stock after selling 350 shares during the period. EverSource Wealth Advisors LLC’s holdings in Baker Hughes were worth $163,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. JFS Wealth Advisors LLC grew its position in shares of Baker Hughes by 135.9% during the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock worth $27,000 after buying an additional 386 shares during the period. SBI Securities Co. Ltd. acquired a new position in Baker Hughes during the fourth quarter valued at approximately $30,000. Larson Financial Group LLC increased its stake 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 purchasing an additional 216 shares in the last quarter. True Wealth Design LLC raised its holdings in Baker Hughes by 2,181.6% in the third quarter. True Wealth Design LLC now owns 867 shares of the company’s stock worth $31,000 after purchasing an additional 829 shares during the period. Finally, Continuum Advisory LLC boosted its position in shares of Baker Hughes by 442.2% during the third quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock worth $35,000 after purchasing an additional 796 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Wall Street Analysts Forecast Growth

BKR has been the subject of a number of recent analyst reports. Piper Sandler raised their price objective on Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Barclays raised their price target on Baker Hughes from $51.00 to $55.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. TD Cowen decreased their price objective on Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. JPMorgan Chase & Co. raised their target price on shares of Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Royal Bank of Canada increased their price objective on shares of Baker Hughes from $49.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, Baker Hughes presently has a consensus rating of “Moderate Buy” and an average target price of $51.06.

Insider Activity at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the sale, the executive vice president now owns 173,302 shares in the company, valued at approximately $7,758,730.54. This represents a 4.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is currently owned by company insiders.

Baker Hughes Stock Up 2.4 %

NASDAQ:BKR opened at $43.88 on Tuesday. Baker Hughes has a twelve month low of $30.93 and a twelve month high of $49.40. The firm has a market capitalization of $43.45 billion, a price-to-earnings ratio of 14.72, a price-to-earnings-growth ratio of 2.00 and a beta of 1.30. 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 stock’s 50 day moving average price is $44.90 and its two-hundred day moving average price is $41.15.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. Equities research analysts expect that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.10%. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date was Tuesday, February 11th. Baker Hughes’s dividend payout ratio is presently 30.87%.

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.