Carrera Capital Advisors Boosts Stock Position in Baker Hughes (NASDAQ:BKR)

Carrera Capital Advisors grew its holdings in shares of Baker Hughes (NASDAQ:BKR) by 27.1% in the 4th quarter, HoldingsChannel reports. The firm owned 71,550 shares of the company’s stock after acquiring an additional 15,269 shares during the quarter. Baker Hughes accounts for approximately 0.7% of Carrera Capital Advisors’ investment portfolio, making the stock its 29th biggest holding. Carrera Capital Advisors’ holdings in Baker Hughes were worth $2,935,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. JFS Wealth Advisors LLC lifted its stake in Baker Hughes by 135.9% in 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 last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Baker Hughes in the third quarter valued at $30,000. SBI Securities Co. Ltd. purchased a new position in shares of Baker Hughes during the 4th quarter valued at $30,000. True Wealth Design LLC grew its stake in shares of Baker Hughes by 2,181.6% during the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company’s stock worth $31,000 after acquiring an additional 829 shares during the period. Finally, Groupama Asset Managment increased its holdings in Baker Hughes by 1,045.1% in the 3rd quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock worth $32,000 after acquiring an additional 811,711 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors.

Insider Transactions at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the company’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 in the company, valued at approximately $7,758,730.54. This represents a 4.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on BKR shares. TD Cowen reduced their target price 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. Barclays raised their price objective on shares of Baker Hughes from $51.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Evercore ISI boosted their price objective on Baker Hughes from $46.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday, January 15th. Piper Sandler raised their target price on Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Wells Fargo & Company lifted their target price on Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Two 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $51.06.

Baker Hughes Stock Down 1.7 %

Shares of Baker Hughes stock opened at $42.86 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. Baker Hughes has a 52-week low of $29.30 and a 52-week high of $49.40. The company’s 50 day moving average price is $44.73 and its 200-day moving average price is $40.68. The stock has a market capitalization of $42.44 billion, a price-to-earnings ratio of 14.38, a P/E/G ratio of 2.00 and a beta of 1.30.

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, 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%. Equities research analysts forecast that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

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

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.