Wedmont Private Capital Boosts Stock Position in Baker Hughes (NASDAQ:BKR)

Wedmont Private Capital increased its stake in shares of Baker Hughes (NASDAQ:BKR) by 4.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,865 shares of the company’s stock after buying an additional 729 shares during the quarter. Wedmont Private Capital’s holdings in Baker Hughes were worth $816,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in BKR. Bridges Investment Management Inc. raised its position in Baker Hughes by 3.1% in the third quarter. Bridges Investment Management Inc. now owns 9,203 shares of the company’s stock valued at $333,000 after purchasing an additional 273 shares during the period. Graypoint LLC raised its holdings in Baker Hughes by 3.0% in the 3rd quarter. Graypoint LLC now owns 10,288 shares of the company’s stock valued at $372,000 after buying an additional 301 shares during the period. First Trust Direct Indexing L.P. lifted its position in Baker Hughes by 1.4% in the third quarter. First Trust Direct Indexing L.P. now owns 29,841 shares of the company’s stock valued at $1,079,000 after buying an additional 398 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in Baker Hughes by 4.6% during the third quarter. Hantz Financial Services Inc. now owns 9,027 shares of the company’s stock worth $326,000 after buying an additional 401 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Baker Hughes by 1.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 40,525 shares of the company’s stock valued at $1,662,000 after acquiring an additional 475 shares during the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Wells Fargo & Company increased their price objective on shares of Baker Hughes from $42.00 to $49.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. UBS Group lowered their price target on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Royal Bank of Canada boosted their price objective on Baker Hughes from $43.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Atb Cap Markets cut Baker Hughes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, Jefferies Financial Group boosted their price target on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $47.18.

Baker Hughes Price Performance

BKR stock opened at $45.07 on Wednesday. The business has a 50 day moving average price of $42.54 and a 200 day moving average price of $38.14. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37. The stock has a market cap of $44.60 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 0.72 and a beta of 1.39. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $45.30.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.06. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The business had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $7.21 billion. During the same quarter in the prior year, the business posted $0.42 EPS. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. Equities research analysts anticipate that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes’s payout ratio is 37.67%.

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.