Janney Montgomery Scott LLC grew its holdings in Baker Hughes Company (NASDAQ:BKR - Free Report) by 71.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 30,932 shares of the company's stock after purchasing an additional 12,838 shares during the quarter. Janney Montgomery Scott LLC's holdings in Baker Hughes were worth $1,359,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new position in shares of Baker Hughes in the 4th quarter valued at about $30,000. Larson Financial Group LLC boosted its stake in shares of Baker Hughes by 41.2% in the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company's stock valued at $30,000 after purchasing an additional 216 shares during the last quarter. OFI Invest Asset Management acquired a new stake in shares of Baker Hughes in the 4th quarter valued at approximately $47,000. IFP Advisors Inc raised its position in shares of Baker Hughes by 78.7% in the 4th quarter. IFP Advisors Inc now owns 1,297 shares of the company's stock valued at $53,000 after acquiring an additional 571 shares during the period. Finally, Brown Brothers Harriman & Co. raised its position in shares of Baker Hughes by 326.2% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,824 shares of the company's stock valued at $75,000 after acquiring an additional 1,396 shares during the period. Institutional investors own 92.06% of the company's stock.
Baker Hughes Stock Down 0.7%
BKR stock traded down $0.26 during mid-day trading on Friday, hitting $38.06. 9,914,793 shares of the company were exchanged, compared to its average volume of 7,129,595. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.93 and a current ratio of 1.34. Baker Hughes Company has a 1-year low of $32.25 and a 1-year high of $49.40. The firm has a market cap of $37.71 billion, a P/E ratio of 12.99, a P/E/G ratio of 4.05 and a beta of 0.91. The firm's 50 day simple moving average is $37.48 and its 200 day simple moving average is $41.09.
Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $6.54 billion. On average, sell-side analysts predict that Baker Hughes Company will post 2.59 EPS for the current fiscal year.
Baker Hughes Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th were issued a $0.23 dividend. The ex-dividend date was Tuesday, May 6th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.42%. Baker Hughes's dividend payout ratio (DPR) is presently 31.40%.
Analyst Ratings Changes
A number of brokerages recently weighed in on BKR. Evercore ISI cut their price target 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. Morgan Stanley cut their price target 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. Barclays cut their price target on shares of Baker Hughes from $54.00 to $48.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Royal Bank Of Canada cut their price target on shares of Baker Hughes from $50.00 to $46.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Finally, Piper Sandler cut their price target on shares of Baker Hughes from $53.00 to $50.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, Baker Hughes currently has a consensus rating of "Moderate Buy" and a consensus target price of $49.11.
Read Our Latest Stock Analysis on Baker Hughes
Baker Hughes Profile
(
Free Report)
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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