Access Financial Services Inc. Sells 10,356 Shares of Baker Hughes Company (NASDAQ:BKR)

Access Financial Services Inc. trimmed its stake in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 22.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,513 shares of the company's stock after selling 10,356 shares during the quarter. Access Financial Services Inc.'s holdings in Baker Hughes were worth $1,605,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in BKR. JFS Wealth Advisors LLC lifted its holdings in Baker Hughes by 135.9% in the fourth quarter. JFS Wealth Advisors LLC now owns 670 shares of the company's stock worth $27,000 after acquiring an additional 386 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Baker Hughes during the 4th quarter valued at approximately $30,000. Larson Financial Group LLC grew its stake in Baker Hughes by 41.2% during the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company's stock worth $30,000 after buying an additional 216 shares during the last quarter. Kestra Investment Management LLC acquired a new stake in Baker Hughes in the fourth quarter worth $45,000. Finally, OFI Invest Asset Management bought a new stake in Baker Hughes in the fourth quarter valued at $47,000. 92.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on BKR shares. Morgan Stanley cut their price objective on shares of Baker Hughes from $55.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. TD Cowen decreased their target price on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. TD Securities reduced their price target on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Citigroup dropped their target price on Baker Hughes from $54.00 to $53.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Finally, Piper Sandler decreased their price target on Baker Hughes from $53.00 to $50.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $49.11.

Baker Hughes Stock Down 1.6%

NASDAQ:BKR traded down $0.62 on Thursday, hitting $38.98. 5,617,085 shares of the company's stock traded hands, compared to its average volume of 7,089,054. The firm has a 50-day moving average price of $37.45 and a 200-day moving average price of $41.30. The company has a current ratio of 1.34, a quick ratio of 0.93 and a debt-to-equity ratio of 0.35. The company has a market cap of $38.62 billion, a PE ratio of 13.30, a price-to-earnings-growth ratio of 4.21 and a beta of 0.91. Baker Hughes Company has a 1 year low of $32.12 and a 1 year high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.03. Baker Hughes had a net margin of 10.51% and a return on equity of 14.70%. The company had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.54 billion. Equities analysts anticipate that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th were issued a dividend of $0.23 per share. The ex-dividend date was Tuesday, May 6th. This represents a $0.92 annualized dividend and a dividend yield of 2.36%. Baker Hughes's dividend payout ratio is 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.