USA Financial Formulas acquired a new position in Baker Hughes (NASDAQ:BKR – Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 31,288 shares of the company’s stock, valued at approximately $1,283,000. Baker Hughes comprises 0.2% of USA Financial Formulas’ investment portfolio, making the stock its 26th largest holding.
Other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new stake in Baker Hughes in the 3rd quarter worth approximately $30,000. True Wealth Design LLC lifted its holdings in shares of Baker Hughes by 2,181.6% in the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company’s stock worth $31,000 after acquiring an additional 829 shares during the last quarter. Continuum Advisory LLC boosted its stake in shares of Baker Hughes by 442.2% in the 3rd quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock valued at $35,000 after purchasing an additional 796 shares in the last quarter. Quarry LP grew its holdings in shares of Baker Hughes by 81.1% during the 2nd quarter. Quarry LP now owns 1,594 shares of the company’s stock valued at $56,000 after purchasing an additional 714 shares during the last quarter. Finally, Eastern Bank raised its position in Baker Hughes by 598.4% in the 4th quarter. Eastern Bank now owns 1,739 shares of the company’s stock worth $71,000 after purchasing an additional 1,490 shares during the period. Institutional investors own 92.06% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the stock. Bank of America raised their price target on shares of Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Evercore ISI upped their price objective on shares of Baker Hughes from $46.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday. Argus upgraded shares of Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Wells Fargo & Company lifted their price objective on Baker Hughes from $42.00 to $49.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, TD Cowen lowered their target price on Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.53.
Baker Hughes Stock Up 1.4 %
NASDAQ:BKR opened at $45.72 on Thursday. Baker Hughes has a 1-year low of $28.32 and a 1-year high of $45.90. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. The firm has a market cap of $45.24 billion, a PE ratio of 20.50, a price-to-earnings-growth ratio of 0.72 and a beta of 1.39. The company has a 50-day moving average of $42.54 and a 200 day moving average of $38.14.
Baker Hughes (NASDAQ:BKR – Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The business had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.21 billion. During the same period last year, the business posted $0.42 EPS. The business’s revenue was up 4.0% compared to the same quarter last year. As a group, research analysts anticipate that Baker Hughes will post 2.29 EPS for the current fiscal year.
Baker Hughes Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.84 annualized dividend and a yield of 1.84%. Baker Hughes’s payout ratio is presently 37.67%.
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.
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