Merit Financial Group LLC Increases Stock Position in Baker Hughes (NASDAQ:BKR)

Merit Financial Group LLC lifted its holdings in Baker Hughes (NASDAQ:BKR - Free Report) by 106.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 21,220 shares of the company's stock after purchasing an additional 10,961 shares during the period. Merit Financial Group LLC's holdings in Baker Hughes were worth $933,000 at the end of the most recent quarter.

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

Baker Hughes Stock Up 2.0%

Shares of NASDAQ BKR opened at $37.90 on Friday. The company's 50-day simple moving average is $37.30 and its 200-day simple moving average is $41.56. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The firm has a market cap of $37.55 billion, a price-to-earnings ratio of 12.72, a price-to-earnings-growth ratio of 2.00 and a beta of 0.91. Baker Hughes has a 52-week low of $30.93 and a 52-week high of $49.40.

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

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend was Tuesday, May 6th. Baker Hughes's dividend payout ratio is currently 31.40%.

Wall Street Analyst Weigh In

BKR has been the topic of a number of research reports. TD Securities cut their price objective on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Evercore ISI dropped 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. Piper Sandler dropped 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. Royal Bank of Canada dropped 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, Stifel Nicolaus set a $50.00 price target on shares of Baker Hughes and gave the company a "buy" rating 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 stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $49.11.

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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