Waverly Advisors LLC Acquires Shares of 8,022 Baker Hughes (NASDAQ:BKR)

Waverly Advisors LLC purchased a new stake in shares of Baker Hughes (NASDAQ:BKR - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 8,022 shares of the company's stock, valued at approximately $329,000.

A number of other large investors have also added to or reduced their stakes in the company. Woodline Partners LP purchased a new stake in Baker Hughes during the fourth quarter valued at about $2,438,000. Vident Advisory LLC raised its position in Baker Hughes by 352.4% during the fourth quarter. Vident Advisory LLC now owns 332,720 shares of the company's stock valued at $13,648,000 after purchasing an additional 259,168 shares in the last quarter. Two Sigma Investments LP raised its position in Baker Hughes by 26.1% during the fourth quarter. Two Sigma Investments LP now owns 34,908 shares of the company's stock valued at $1,432,000 after purchasing an additional 7,228 shares in the last quarter. State of Wyoming purchased a new stake in Baker Hughes during the fourth quarter valued at about $196,000. Finally, Strategic Wealth Partners Ltd. raised its position in Baker Hughes by 12.4% during the fourth quarter. Strategic Wealth Partners Ltd. now owns 231,188 shares of the company's stock valued at $9,483,000 after purchasing an additional 25,561 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company's stock.

Baker Hughes Trading Down 1.7%

Shares of NASDAQ BKR traded down $0.64 during trading hours on Friday, hitting $36.72. The company's stock had a trading volume of 951,297 shares, compared to its average volume of 7,062,130. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. The stock has a market cap of $36.38 billion, a price-to-earnings ratio of 12.33, a P/E/G ratio of 2.00 and a beta of 0.96. 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 $38.12 and a 200-day simple moving average of $41.81.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share (EPS) 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%. On average, analysts anticipate that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $0.92 annualized dividend and a yield of 2.51%. Baker Hughes's payout ratio is 31.40%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on BKR shares. Royal Bank of Canada lowered their price target on Baker Hughes from $50.00 to $46.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Morgan Stanley lowered their price target on Baker Hughes from $55.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Piper Sandler lowered their price target on Baker Hughes from $53.00 to $50.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. TD Securities decreased their price objective on Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Finally, Stifel Nicolaus set a $50.00 price objective on Baker Hughes and gave the stock a "buy" rating in a report on Thursday, April 24th. Two equities 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.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $49.11.

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.