LM Advisors LLC Buys Shares of 8,750 Baker Hughes (NASDAQ:BKR)

LM Advisors LLC purchased a new position in Baker Hughes (NASDAQ:BKR) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 8,750 shares of the company’s stock, valued at approximately $359,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. bought a new position in Baker Hughes during the 4th quarter worth $291,289,000. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of Baker Hughes by 34.7% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock valued at $394,775,000 after acquiring an additional 2,811,940 shares during the period. Congress Asset Management Co. bought a new position in shares of Baker Hughes during the fourth quarter worth about $107,155,000. Yaupon Capital Management LP acquired a new stake in shares of Baker Hughes in the 3rd quarter worth about $47,296,000. Finally, Natixis Advisors LLC lifted its position in Baker Hughes by 217.5% in the 4th quarter. Natixis Advisors LLC now owns 1,728,450 shares of the company’s stock valued at $70,901,000 after purchasing an additional 1,184,036 shares during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $43.63 on Friday. 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 company has a market capitalization of $43.20 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 2.00 and a beta of 1.30. The stock has a fifty day moving average of $44.88 and a 200-day moving average of $41.61. Baker Hughes has a one year low of $30.93 and a one year high of $49.40.

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

Baker Hughes Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were issued a dividend of $0.23 per share. The ex-dividend date was Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.11%. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s payout ratio is currently 30.87%.

Insider Activity at Baker Hughes

In related 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 approximately $7,758,730.54. The trade was a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Susquehanna raised their price target on shares of Baker Hughes from $53.00 to $55.00 and gave the company a “positive” rating in a research note on Monday, February 3rd. Evercore ISI raised their target price on Baker Hughes from $46.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, January 15th. JPMorgan Chase & Co. increased their price target on Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Piper Sandler upped 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. Finally, Jefferies Financial Group upped 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 investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently 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.