Prosperity Consulting Group LLC Makes New Investment in Baker Hughes (NASDAQ:BKR)

Prosperity Consulting Group LLC acquired a new stake in shares of Baker Hughes (NASDAQ:BKR - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 10,255 shares of the company's stock, valued at approximately $421,000.

A number of other hedge funds also recently made changes to their positions in BKR. Capital Research Global Investors grew its holdings in shares of Baker Hughes by 0.6% during the 4th quarter. Capital Research Global Investors now owns 27,687,590 shares of the company's stock valued at $1,135,744,000 after purchasing an additional 177,232 shares during the last quarter. Geode Capital Management LLC boosted its position in Baker Hughes by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company's stock valued at $1,004,212,000 after buying an additional 465,832 shares during the period. Norges Bank bought a new position in shares of Baker Hughes during the fourth quarter valued at about $829,092,000. FMR LLC increased its holdings in shares of Baker Hughes by 12.5% in the fourth quarter. FMR LLC now owns 15,702,057 shares of the company's stock worth $644,098,000 after buying an additional 1,744,225 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Baker Hughes by 8.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 11,552,478 shares of the company's stock valued at $473,880,000 after acquiring an additional 874,297 shares during the last quarter. 92.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BKR has been the topic of a number of analyst reports. Barclays decreased their price target on Baker Hughes from $54.00 to $48.00 and set an "overweight" rating on the stock in a research note on Thursday. TD Securities lowered their price target on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a report on Thursday. Jefferies Financial Group raised their price target on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a "buy" rating in a report on Friday, January 3rd. Evercore ISI lowered 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 note on Thursday. Finally, Susquehanna cut their target price on Baker Hughes from $48.00 to $46.00 and set a "positive" rating on the stock in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $49.11.

Baker Hughes Stock Performance

Baker Hughes stock opened at $36.45 on Monday. The stock's 50 day moving average is $41.39 and its 200 day moving average is $42.10. The company has a market capitalization of $36.09 billion, a P/E ratio of 12.23, a PEG ratio of 2.00 and a beta of 1.08. Baker Hughes has a twelve month low of $30.93 and a twelve month high of $49.40. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35.

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

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend is Tuesday, May 6th. Baker Hughes's payout ratio is 31.40%.

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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