Baker Hughes Company (NASDAQ:BKR) Shares Purchased by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers increased its stake in Baker Hughes by 36.0%, acquiring an additional 29,906 shares, bringing their total to 112,945 shares valued at approximately $4.96 million.
• Analyst reports show a positive outlook for Baker Hughes, with 18 buy ratings and an average target price of $51.47, reflecting heightened confidence among analysts following recent earnings.
• Baker Hughes announced a quarterly dividend of $0.23 per share, yielding approximately 2.1%, indicating a commitment to returning value to shareholders.

Cetera Investment Advisers increased its position in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 36.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 112,945 shares of the company's stock after acquiring an additional 29,906 shares during the period. Cetera Investment Advisers' holdings in Baker Hughes were worth $4,964,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Wayfinding Financial LLC acquired a new stake in Baker Hughes in the 1st quarter valued at about $28,000. Golden State Wealth Management LLC raised 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 purchasing an additional 604 shares in the last quarter. Grove Bank & Trust raised 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 purchasing an additional 320 shares in the last quarter. Spire Wealth Management raised its position in Baker Hughes by 132.9% in the 1st quarter. Spire Wealth Management now owns 815 shares of the company's stock valued at $36,000 after purchasing an additional 465 shares in the last quarter. Finally, Tsfg LLC raised its position in Baker Hughes by 278.8% in the 1st quarter. Tsfg LLC now owns 1,485 shares of the company's stock valued at $65,000 after purchasing an additional 1,093 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company's stock.

Analyst Upgrades and Downgrades

BKR has been the topic of a number of analyst reports. Barclays increased their price target on Baker Hughes from $48.00 to $53.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Evercore ISI raised their target price on Baker Hughes from $53.00 to $55.00 and gave the stock an "outperform" rating in a research report on Wednesday. TD Securities cut their target price on Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. BMO Capital Markets reissued an "outperform" rating and set a $53.00 target price (up previously from $46.00) on shares of Baker Hughes in a research report on Wednesday. Finally, Susquehanna raised their target price on Baker Hughes from $46.00 to $52.00 and gave the stock a "positive" rating in a research report on Thursday, July 24th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $51.47.

Baker Hughes Trading Down 3.4%

BKR opened at $43.51 on Friday. The firm has a market cap of $42.90 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 5.35 and a beta of 0.94. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33. The business's 50 day moving average is $39.71 and its two-hundred day moving average is $40.98. Baker Hughes Company has a 52 week low of $32.25 and a 52 week high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.55 by $0.08. The business had revenue of $6.91 billion for the quarter, compared to analyst estimates of $6.64 billion. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%. The company's revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 earnings per share. On average, research analysts predict that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.1%. Baker Hughes's payout ratio is presently 30.07%.

Insider Activity

In other news, CEO Lorenzo Simonelli sold 526,568 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $44.42, for a total value of $23,390,150.56. Following the transaction, the chief executive officer owned 667,593 shares of the company's stock, valued at approximately $29,654,481.06. The trade was a 44.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.27% of the company's stock.

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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