Strategic Financial Concepts LLC Makes New Investment in Baker Hughes (NASDAQ:BKR)

Strategic Financial Concepts LLC acquired a new stake in Baker Hughes (NASDAQ:BKR) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 15,609 shares of the company’s stock, valued at approximately $640,000.

Several other institutional investors have also modified their holdings of BKR. Ashton Thomas Securities LLC acquired a new position in shares of Baker Hughes during the 3rd quarter worth about $30,000. True Wealth Design LLC lifted its stake in Baker Hughes by 2,181.6% during the third quarter. True Wealth Design LLC now owns 867 shares of the company’s stock worth $31,000 after purchasing an additional 829 shares during the last quarter. Groupama Asset Managment raised its holdings in Baker Hughes by 1,045.1% during the third quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock worth $32,000 after purchasing an additional 811,711 shares in the last quarter. Continuum Advisory LLC lifted its position in shares of Baker Hughes by 442.2% during the 3rd quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock worth $35,000 after buying an additional 796 shares during the last quarter. Finally, Eastern Bank boosted its holdings in shares of Baker Hughes by 598.4% in the 4th quarter. Eastern Bank now owns 1,739 shares of the company’s stock valued at $71,000 after buying an additional 1,490 shares in the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Trading Down 0.6 %

NASDAQ:BKR opened at $47.11 on Wednesday. The stock has a market capitalization of $46.62 billion, a price-to-earnings ratio of 15.81, a PEG ratio of 2.07 and a beta of 1.39. Baker Hughes has a 1 year low of $28.63 and a 1 year high of $49.40. The stock has a fifty day moving average price of $43.49 and a two-hundred day moving average price of $39.62. 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 (NASDAQ:BKR) last released its quarterly earnings data on Thursday, January 30th. The company reported $0.70 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%. As a group, sell-side analysts anticipate that Baker Hughes will post 2.57 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.95%. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date is Tuesday, February 11th. Baker Hughes’s payout ratio is 28.19%.

Insider Buying and Selling

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the sale, the executive vice president now owns 173,302 shares in the company, valued at $7,758,730.54. The trade was a 4.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

BKR has been the subject of several research analyst reports. Wells Fargo & Company upped their price objective 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. Bank of America raised their price target on Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Barclays boosted their price objective on Baker Hughes from $51.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Jefferies Financial Group lifted their target price on shares of Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Finally, Benchmark reiterated a “buy” rating and set a $57.00 price target on shares of Baker Hughes in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $51.06.

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.