Hennessy Advisors Inc. Has $6.50 Million Holdings in Baker Hughes (NASDAQ:BKR)

Hennessy Advisors Inc. lowered its stake in shares of Baker Hughes (NASDAQ:BKR) by 3.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 158,400 shares of the company’s stock after selling 5,700 shares during the period. Hennessy Advisors Inc.’s holdings in Baker Hughes were worth $6,498,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Occidental Asset Management LLC grew its stake in shares of Baker Hughes by 32.6% in the 4th quarter. Occidental Asset Management LLC now owns 84,116 shares of the company’s stock worth $3,450,000 after acquiring an additional 20,683 shares in the last quarter. Ritholtz Wealth Management boosted its holdings in Baker Hughes by 34.2% during the fourth quarter. Ritholtz Wealth Management now owns 34,386 shares of the company’s stock worth $1,411,000 after purchasing an additional 8,755 shares during the last quarter. USA Financial Formulas bought a new stake in Baker Hughes in the 4th quarter worth about $1,283,000. Burney Co. increased its stake in Baker Hughes by 315.0% in the 4th quarter. Burney Co. now owns 138,788 shares of the company’s stock valued at $5,693,000 after buying an additional 105,349 shares during the last quarter. Finally, Kathmere Capital Management LLC increased its stake in Baker Hughes by 32.3% in the 4th quarter. Kathmere Capital Management LLC now owns 8,104 shares of the company’s stock valued at $332,000 after buying an additional 1,980 shares during the last quarter. 92.06% of the stock is owned by institutional investors.

Baker Hughes Stock Performance

NASDAQ:BKR opened at $46.54 on Friday. The business’s fifty day moving average is $42.67 and its 200 day moving average is $38.25. The firm has a market cap of $46.05 billion, a price-to-earnings ratio of 20.87, a PEG ratio of 0.79 and a beta of 1.39. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $47.47.

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

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.80%. The ex-dividend date was Monday, November 4th. Baker Hughes’s payout ratio is 37.67%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BKR. Jefferies Financial Group boosted their target price on Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Stifel Nicolaus upped their price objective on Baker Hughes from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Atb Cap Markets cut Baker Hughes from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Susquehanna increased their price target on shares of Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a research report on Thursday, October 24th. Finally, Bank of America lifted their price objective on shares of Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $47.53.

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.