OLD Point Trust & Financial Services N A Sells 750 Shares of Baker Hughes (NASDAQ:BKR)

OLD Point Trust & Financial Services N A reduced its position in Baker Hughes (NASDAQ:BKR) by 2.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,597 shares of the company’s stock after selling 750 shares during the quarter. OLD Point Trust & Financial Services N A’s holdings in Baker Hughes were worth $1,337,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. JFS Wealth Advisors LLC lifted its stake in Baker Hughes by 135.9% in the fourth quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock worth $27,000 after purchasing an additional 386 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Baker Hughes in the fourth quarter worth about $30,000. Larson Financial Group LLC lifted its stake in shares of Baker Hughes by 41.2% in the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock valued at $30,000 after acquiring an additional 216 shares during the last quarter. True Wealth Design LLC boosted its holdings in Baker Hughes by 2,181.6% during the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company’s stock valued at $31,000 after acquiring an additional 829 shares during the period. Finally, Continuum Advisory LLC grew its position in Baker Hughes by 442.2% during the 3rd quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock worth $35,000 after acquiring an additional 796 shares during the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $44.77, for a total transaction of $358,160.00. Following the transaction, the executive vice president now directly owns 173,302 shares of the company’s stock, valued at $7,758,730.54. This represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.25% of the company’s stock.

Baker Hughes Trading Up 2.1 %

NASDAQ BKR opened at $44.60 on Thursday. Baker Hughes has a 12 month low of $30.93 and a 12 month high of $49.40. 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 stock’s fifty day moving average price is $44.93 and its 200-day moving average price is $41.23. The stock has a market cap of $44.16 billion, a P/E ratio of 14.97, a P/E/G ratio of 2.00 and a beta of 1.30.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Thursday, January 30th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. As a group, equities analysts forecast that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were given a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a yield of 2.06%. Baker Hughes’s dividend payout ratio is 30.87%.

Analyst Ratings Changes

A number of research firms have recently weighed in on BKR. JPMorgan Chase & Co. increased their price objective on Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. The Goldman Sachs Group raised their price target on shares of Baker Hughes from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Jefferies Financial Group raised their target price on Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Piper Sandler increased their price objective on Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Evercore ISI boosted their target price on Baker Hughes from $46.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday, January 15th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $51.06.

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.