Vest Financial LLC Takes $19.59 Million Position in Baker Hughes (NASDAQ:BKR)

Vest Financial LLC purchased a new position in shares of Baker Hughes (NASDAQ:BKR - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 445,698 shares of the company's stock, valued at approximately $19,588,000.

Several other institutional investors have also added to or reduced their stakes in BKR. JFS Wealth Advisors LLC grew its position in shares of Baker Hughes by 135.9% during the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company's stock worth $27,000 after purchasing an additional 386 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Baker Hughes in the fourth quarter valued at approximately $30,000. Larson Financial Group LLC boosted 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 valued at $30,000 after buying an additional 216 shares during the period. Kestra Investment Management LLC acquired a new stake in Baker Hughes during the fourth quarter worth approximately $45,000. Finally, OFI Invest Asset Management bought a new position in Baker Hughes during the 4th quarter worth $47,000. 92.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BKR. Stifel Nicolaus set a $50.00 target price on Baker Hughes and gave the company a "buy" rating in a research report on Thursday, April 24th. Evercore ISI cut their price objective on shares of Baker Hughes from $52.00 to $50.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Morgan Stanley reduced 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. Citigroup dropped their target price on shares of Baker Hughes from $54.00 to $53.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Finally, Royal Bank of Canada cut their price target on shares of Baker Hughes from $50.00 to $46.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Baker Hughes presently has a consensus rating of "Moderate Buy" and an average price target of $49.11.

Baker Hughes Price Performance

Shares of BKR opened at $37.90 on Friday. Baker Hughes has a 12-month low of $30.93 and a 12-month high of $49.40. The business has a 50-day simple moving average of $37.30 and a two-hundred day simple moving average of $41.57. 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 stock has a market cap of $37.55 billion, a PE ratio of 12.72, a PEG ratio of 2.00 and a beta of 0.96.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released 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 company had revenue of $6.43 billion for the quarter, compared to analysts' expectations of $6.54 billion. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. Analysts anticipate that Baker Hughes will post 2.59 earnings per share 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 dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.43%. The ex-dividend date 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.

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