Mission Wealth Management LP Reduces Holdings in Baker Hughes (NASDAQ:BKR)

Mission Wealth Management LP lowered its position in shares of Baker Hughes (NASDAQ:BKR) by 32.9% during the fourth quarter, HoldingsChannel reports. The firm owned 14,973 shares of the company’s stock after selling 7,350 shares during the period. Mission Wealth Management LP’s holdings in Baker Hughes were worth $614,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. JFS Wealth Advisors LLC raised its stake in shares of Baker Hughes by 135.9% during the fourth quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock valued at $27,000 after purchasing an additional 386 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of Baker Hughes during the third quarter valued at approximately $30,000. SBI Securities Co. Ltd. purchased a new stake in shares of Baker Hughes during the fourth quarter valued at approximately $30,000. True Wealth Design LLC raised its stake in shares of Baker Hughes by 2,181.6% during the third quarter. True Wealth Design LLC now owns 867 shares of the company’s stock valued at $31,000 after purchasing an additional 829 shares during the period. Finally, Groupama Asset Managment increased its stake in shares of Baker Hughes by 1,045.1% in the third quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock worth $32,000 after buying an additional 811,711 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Performance

Shares of BKR opened at $42.86 on Wednesday. Baker Hughes has a 1 year low of $29.30 and a 1 year high of $49.40. The company has a market cap of $42.44 billion, a price-to-earnings ratio of 14.38, a price-to-earnings-growth ratio of 2.00 and a beta of 1.30. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. The firm has a fifty day moving average of $44.73 and a 200-day moving average of $40.68.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (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 anticipate that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were issued a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.92 annualized dividend and a yield of 2.15%. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s dividend payout ratio is presently 30.87%.

Insider Buying and Selling

In related news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the sale, the executive vice president now 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on BKR shares. Susquehanna lifted their price target on shares of Baker Hughes from $53.00 to $55.00 and gave the stock a “positive” rating in a research note on Monday, February 3rd. The Goldman Sachs Group lifted their price target on shares of Baker Hughes from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. TD Cowen dropped their price target on shares of Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Benchmark restated a “buy” rating and issued a $57.00 price target on shares of Baker Hughes in a research note on Tuesday, February 11th. Finally, Jefferies Financial Group lifted their price objective on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Baker Hughes has a consensus rating of “Moderate Buy” and a consensus target price 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.