Baker Hughes (NASDAQ:BKR) Shares Purchased by Benjamin Edwards Inc.

Benjamin Edwards Inc. boosted its position in Baker Hughes (NASDAQ:BKR - Free Report) by 471.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 44,753 shares of the company's stock after purchasing an additional 36,916 shares during the quarter. Benjamin Edwards Inc.'s holdings in Baker Hughes were worth $1,836,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Baker Hughes in the fourth quarter valued at approximately $829,092,000. Raymond James Financial Inc. acquired a new stake in shares of Baker Hughes in the 4th quarter worth $291,289,000. Neuberger Berman Group LLC raised its holdings in shares of Baker Hughes by 2,527.6% during the 4th quarter. Neuberger Berman Group LLC now owns 3,319,418 shares of the company's stock worth $136,158,000 after acquiring an additional 3,193,089 shares during the period. Congress Asset Management Co. acquired a new position in shares of Baker Hughes during the 4th quarter valued at about $107,155,000. Finally, FMR LLC grew its holdings in shares of Baker Hughes by 12.5% in the fourth quarter. FMR LLC now owns 15,702,057 shares of the company's stock valued at $644,098,000 after purchasing an additional 1,744,225 shares during the period. Hedge funds and other institutional investors own 92.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Stifel Nicolaus set a $50.00 target price on shares of Baker Hughes and gave the company a "buy" rating in a report on Thursday, April 24th. TD Cowen cut their target price on Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Piper Sandler decreased their price target on Baker Hughes from $53.00 to $50.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Susquehanna cut their price objective on Baker Hughes from $48.00 to $46.00 and set a "positive" rating for the company in a research report on Thursday, April 24th. Finally, Evercore ISI decreased their target price on shares of Baker Hughes from $52.00 to $50.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $49.11.

Baker Hughes Price Performance

Shares of NASDAQ BKR opened at $36.32 on Thursday. The stock's 50-day moving average is $40.00 and its two-hundred day moving average is $41.99. 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 company has a market cap of $35.98 billion, a price-to-earnings ratio of 12.19, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96. Baker Hughes has a 1-year low of $30.93 and a 1-year high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.48 by $0.03. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. The company had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.54 billion. Analysts forecast that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Tuesday, May 6th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.53%. The ex-dividend date is Tuesday, May 6th. Baker Hughes's dividend payout ratio (DPR) is presently 31.40%.

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.

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