Kestra Private Wealth Services LLC Raises Stock Position in Baker Hughes (NASDAQ:BKR)

Kestra Private Wealth Services LLC lifted its stake in shares of Baker Hughes (NASDAQ:BKR) by 24.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 24,455 shares of the company’s stock after acquiring an additional 4,869 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Baker Hughes were worth $1,003,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Exchange Traded Concepts LLC boosted its stake in shares of Baker Hughes by 93.6% during the third quarter. Exchange Traded Concepts LLC now owns 19,522 shares of the company’s stock valued at $706,000 after purchasing an additional 9,440 shares in the last quarter. Creative Planning boosted its stake in shares of Baker Hughes by 12.3% during the third quarter. Creative Planning now owns 69,572 shares of the company’s stock valued at $2,515,000 after purchasing an additional 7,596 shares in the last quarter. NBC Securities Inc. bought a new position in shares of Baker Hughes during the third quarter valued at approximately $294,000. Swedbank AB boosted its stake in Baker Hughes by 24.2% in the third quarter. Swedbank AB now owns 656,571 shares of the company’s stock valued at $23,735,000 after acquiring an additional 128,031 shares in the last quarter. Finally, Magnus Financial Group LLC acquired a new stake in Baker Hughes in the third quarter valued at approximately $201,000. 92.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction on 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 transaction, the executive vice president now 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 this link. 0.25% of the stock is owned by corporate insiders.

Baker Hughes Trading Down 0.6 %

Shares of Baker Hughes stock opened at $46.15 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. The firm has a fifty day moving average price of $43.64 and a 200 day moving average price of $39.73. Baker Hughes has a 1 year low of $28.63 and a 1 year high of $49.40. The stock has a market cap of $45.67 billion, a PE ratio of 15.49, a price-to-earnings-growth ratio of 2.07 and a beta of 1.39.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts predict that Baker Hughes will post 2.57 earnings per share for the current year.

Baker Hughes Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th will be issued a $0.23 dividend. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.99%. Baker Hughes’s payout ratio is presently 28.19%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. The Goldman Sachs Group raised their target price on shares of Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Stifel Nicolaus raised their target price on shares of Baker Hughes from $48.00 to $54.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Wells Fargo & Company raised their target price on shares of Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Citigroup raised their target price on shares of Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Jefferies Financial Group raised their price target 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 analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, Baker Hughes has an average rating of “Moderate Buy” and an average price target 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.