Brown Financial Advisors Acquires New Shares in Baker Hughes (NASDAQ:BKR)

Brown Financial Advisors bought a new position in shares of Baker Hughes (NASDAQ:BKR) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 19,991 shares of the company’s stock, valued at approximately $820,000.

Several other hedge funds have also recently bought and sold shares of BKR. National Pension Service boosted its holdings in shares of Baker Hughes by 6.4% during the 3rd quarter. National Pension Service now owns 1,362,973 shares of the company’s stock worth $49,271,000 after buying an additional 81,625 shares during the period. Strategic Financial Concepts LLC bought a new stake in Baker Hughes during the fourth quarter valued at about $640,000. Burney Co. grew its position in shares of Baker Hughes by 315.0% in the fourth quarter. Burney Co. now owns 138,788 shares of the company’s stock valued at $5,693,000 after purchasing an additional 105,349 shares during the last quarter. Northstar Advisory Group LLC bought a new position in shares of Baker Hughes in the fourth quarter worth about $1,180,000. Finally, Artemis Investment Management LLP increased its stake in shares of Baker Hughes by 29.4% in the fourth quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company’s stock worth $43,233,000 after purchasing an additional 239,773 shares during the period. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Stock Performance

BKR stock opened at $44.62 on Tuesday. Baker Hughes has a 1-year low of $29.19 and a 1-year high of $49.40. The business’s 50-day moving average price is $44.33 and its two-hundred day moving average price is $40.31. The firm has a market cap of $44.18 billion, a PE ratio of 14.97, a P/E/G ratio of 2.00 and a beta of 1.39. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Thursday, January 30th. The company reported $0.70 EPS 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%. As a group, research analysts forecast that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were given a dividend of $0.23 per share. 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%.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the business’s stock in a transaction that occurred 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 owns 173,302 shares of the company’s stock, valued at $7,758,730.54. The trade was a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

BKR has been the topic of several research analyst reports. Stifel Nicolaus raised their price target on shares of Baker Hughes from $48.00 to $54.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. The Goldman Sachs Group boosted their price objective on Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Atb Cap Markets cut Baker Hughes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. TD Cowen decreased their price target on shares of Baker Hughes from $53.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Finally, Piper Sandler raised their price objective on shares of Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $51.06.

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.