RFG Advisory LLC Buys Shares of 20,893 Baker Hughes (NASDAQ:BKR)

RFG Advisory LLC bought a new stake in shares of Baker Hughes (NASDAQ:BKR - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 20,893 shares of the company's stock, valued at approximately $918,000.

Several other hedge funds and other institutional investors have also bought and sold shares of BKR. Norges Bank bought a new position in Baker Hughes during the 4th quarter valued at about $829,092,000. Raymond James Financial Inc. bought a new position in Baker Hughes during the 4th quarter valued at about $291,289,000. Neuberger Berman Group LLC lifted its stake in Baker Hughes by 2,527.6% during the 4th quarter. Neuberger Berman Group LLC now owns 3,319,418 shares of the company's stock valued at $136,158,000 after acquiring an additional 3,193,089 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Baker Hughes during the 4th quarter valued at about $128,542,000. Finally, Congress Asset Management Co. bought a new position in shares of Baker Hughes in the 4th quarter worth approximately $107,155,000. Institutional investors own 92.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BKR. Citigroup lowered their price objective on shares of Baker Hughes from $54.00 to $53.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Benchmark reiterated a "buy" rating and issued a $57.00 price objective on shares of Baker Hughes in a research note on Tuesday, February 11th. Piper Sandler lowered their price objective on shares of Baker Hughes from $53.00 to $50.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Susquehanna lowered their price objective on shares of Baker Hughes from $48.00 to $46.00 and set a "positive" rating on the stock in a research note on Thursday, April 24th. Finally, Morgan Stanley lowered 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 note on Friday, May 16th. Two research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $49.11.

Baker Hughes Trading Down 0.4%

Baker Hughes stock opened at $37.15 on Friday. The stock has a market cap of $36.81 billion, a P/E ratio of 12.47, a PEG ratio of 2.00 and a beta of 0.96. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. Baker Hughes has a 1 year low of $30.93 and a 1 year high of $49.40. The firm's 50 day moving average price is $37.44 and its 200-day moving average price is $41.61.

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 (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.03. The firm had revenue of $6.43 billion for the quarter, compared to analysts' expectations of $6.54 billion. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. On average, equities analysts predict that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend was Tuesday, May 6th. Baker Hughes's payout ratio is currently 31.40%.

Baker Hughes 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.

Want to see what other hedge funds are holding BKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Baker Hughes (NASDAQ:BKR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.