Resonant Capital Advisors LLC Takes Position in Baker Hughes (NASDAQ:BKR)

Resonant Capital Advisors LLC purchased a new stake in shares of Baker Hughes (NASDAQ:BKR) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 5,506 shares of the company’s stock, valued at approximately $226,000.

A number of other large investors have also recently modified their holdings of BKR. National Pension Service lifted its position in Baker Hughes by 6.4% in 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 last quarter. Burney Co. lifted its position in Baker Hughes by 315.0% in the 4th quarter. Burney Co. now owns 138,788 shares of the company’s stock worth $5,693,000 after buying an additional 105,349 shares during the last quarter. Northstar Advisory Group LLC bought a new stake in Baker Hughes in the 4th quarter worth approximately $1,180,000. Artemis Investment Management LLP lifted its position in Baker Hughes by 29.4% in the 4th quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company’s stock worth $43,233,000 after buying an additional 239,773 shares during the last quarter. Finally, Czech National Bank lifted its position in Baker Hughes by 6.0% in the 4th quarter. Czech National Bank now owns 214,549 shares of the company’s stock worth $8,801,000 after buying an additional 12,178 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Trading Up 2.6 %

NASDAQ BKR opened at $47.40 on Tuesday. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $47.60. The firm has a market capitalization of $46.90 billion, a PE ratio of 15.91, a P/E/G ratio of 0.89 and a beta of 1.39. The stock’s 50 day moving average is $43.03 and its 200 day moving average is $39.12.

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 the consensus estimate of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. Research analysts forecast that Baker Hughes will post 2.55 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Tuesday, February 11th will be given a dividend of $0.23 per share. The ex-dividend date is Tuesday, February 11th. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a dividend yield of 1.94%. Baker Hughes’s payout ratio is currently 28.19%.

Insider Activity at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the business’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the sale, 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 legal filing with the SEC, which can be accessed through this link. 0.25% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Stifel Nicolaus boosted their target price on Baker Hughes from $48.00 to $54.00 and gave the stock a “buy” rating in a research report on Monday. Atb Cap Markets cut Baker Hughes from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. TD Cowen decreased their price target on Baker Hughes from $53.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. lifted 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. Finally, Jefferies Financial Group lifted their price target on Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, January 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 MarketBeat.com, Baker Hughes presently has a consensus rating of “Moderate Buy” and an average price target of $50.00.

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.