Bailard Inc. Purchases New Position in Baker Hughes Company (NASDAQ:BKR)

Bailard Inc. acquired a new stake in Baker Hughes Company (NASDAQ:BKR - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 12,758 shares of the company's stock, valued at approximately $561,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Wayfinding Financial LLC acquired a new position in shares of Baker Hughes in the first quarter valued at approximately $28,000. Golden State Wealth Management LLC increased its position in Baker Hughes by 678.7% in the 1st quarter. Golden State Wealth Management LLC now owns 693 shares of the company's stock valued at $30,000 after acquiring an additional 604 shares during the period. Grove Bank & Trust increased its position in Baker Hughes by 76.2% in the 1st quarter. Grove Bank & Trust now owns 740 shares of the company's stock valued at $33,000 after acquiring an additional 320 shares during the period. Spire Wealth Management raised its stake in shares of Baker Hughes by 132.9% during the first quarter. Spire Wealth Management now owns 815 shares of the company's stock valued at $36,000 after acquiring an additional 465 shares during the last quarter. Finally, Tsfg LLC lifted its holdings in shares of Baker Hughes by 278.8% during the first quarter. Tsfg LLC now owns 1,485 shares of the company's stock worth $65,000 after purchasing an additional 1,093 shares during the period. Institutional investors and hedge funds own 92.06% of the company's stock.

Analysts Set New Price Targets

BKR has been the subject of a number of analyst reports. TD Cowen lowered 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 note on Thursday, April 24th. Piper Sandler decreased their target price 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. TD Securities dropped their price target on Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Royal Bank Of Canada cut their price target on Baker Hughes from $50.00 to $46.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Finally, Barclays reduced their price objective on shares of Baker Hughes from $54.00 to $48.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, Baker Hughes presently has a consensus rating of "Moderate Buy" and a consensus target price of $48.44.

Baker Hughes Price Performance

Shares of NASDAQ BKR opened at $39.72 on Friday. The firm has a market cap of $39.35 billion, a price-to-earnings ratio of 13.56, a price-to-earnings-growth ratio of 4.96 and a beta of 0.91. The stock has a fifty day simple moving average of $38.35 and a two-hundred day simple moving average of $40.93. The company has a current ratio of 1.34, a quick ratio of 0.93 and a debt-to-equity ratio of 0.35. Baker Hughes Company has a 1-year low of $32.25 and a 1-year high of $49.40.

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

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Tuesday, May 6th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend was Tuesday, May 6th. Baker Hughes's 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.

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