Baker Hughes (NASDAQ:BKR) Shares Sold by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC decreased its stake in Baker Hughes (NASDAQ:BKR) by 2.0% in the 4th quarter, Holdings Channel reports. The firm owned 79,540 shares of the company’s stock after selling 1,635 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Baker Hughes were worth $3,263,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in BKR. Headlands Technologies LLC purchased a new stake in shares of Baker Hughes during the 2nd quarter worth approximately $48,000. DekaBank Deutsche Girozentrale boosted its position in Baker Hughes by 3.5% during the second quarter. DekaBank Deutsche Girozentrale now owns 435,174 shares of the company’s stock worth $14,933,000 after purchasing an additional 14,670 shares in the last quarter. Meeder Advisory Services Inc. grew its holdings in Baker Hughes by 41.6% in the second quarter. Meeder Advisory Services Inc. now owns 14,779 shares of the company’s stock valued at $520,000 after purchasing an additional 4,341 shares during the last quarter. Plato Investment Management Ltd increased its position in shares of Baker Hughes by 1.2% in the second quarter. Plato Investment Management Ltd now owns 136,609 shares of the company’s stock valued at $4,805,000 after buying an additional 1,630 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Baker Hughes by 7.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock worth $348,074,000 after buying an additional 680,621 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on BKR. Barclays raised their target price on shares of Baker Hughes from $46.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. BMO Capital Markets lifted their price objective on Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Morgan Stanley increased their target price on Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. UBS Group cut their price target on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. Finally, Piper Sandler began coverage on Baker Hughes in a research report on Thursday, December 19th. They issued an “overweight” rating and a $53.00 price objective on the stock. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.18.

Baker Hughes Trading Up 3.6 %

Shares of NASDAQ BKR traded up $1.57 during trading on Monday, hitting $44.83. 7,470,385 shares of the company traded hands, compared to its average volume of 6,132,649. The firm has a market capitalization of $44.36 billion, a P/E ratio of 20.10, a P/E/G ratio of 0.72 and a beta of 1.39. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37. The company has a 50-day moving average price of $42.28 and a 200-day moving average price of $38.00. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $45.17.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. The firm had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.21 billion. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.42 earnings per share. On average, equities analysts predict that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.84 annualized dividend and a yield of 1.87%. Baker Hughes’s payout ratio is 37.67%.

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.