Strategic Financial Concepts LLC Takes $640,000 Position in Baker Hughes (NASDAQ:BKR)

Strategic Financial Concepts LLC purchased a new position in shares of Baker Hughes (NASDAQ:BKR) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 15,609 shares of the company’s stock, valued at approximately $640,000.

A number of other institutional investors have also made changes to their positions in BKR. Ashton Thomas Securities LLC acquired a new stake in shares of Baker Hughes during the third quarter worth approximately $30,000. True Wealth Design LLC boosted its stake in Baker Hughes by 2,181.6% during the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company’s stock valued at $31,000 after acquiring an additional 829 shares during the last quarter. Continuum Advisory LLC grew its holdings in Baker Hughes by 442.2% during the 3rd quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock worth $35,000 after acquiring an additional 796 shares in the last quarter. Eastern Bank raised its stake in shares of Baker Hughes by 598.4% in the 4th quarter. Eastern Bank now owns 1,739 shares of the company’s stock valued at $71,000 after purchasing an additional 1,490 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of Baker Hughes during the third quarter worth about $103,000. 92.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BKR. Barclays boosted their price objective on Baker Hughes from $51.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Citigroup raised their price objective on Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Wells Fargo & Company boosted their target price on shares of Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Jefferies Financial Group increased their price objective on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Finally, The Goldman Sachs Group lifted their target price on Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Baker Hughes presently has an average rating of “Moderate Buy” and an average target price of $51.06.

Baker Hughes Stock Performance

Shares of NASDAQ BKR opened at $47.11 on Wednesday. Baker Hughes has a 1 year low of $28.63 and a 1 year high of $49.40. The firm has a market cap of $46.62 billion, a P/E ratio of 15.81, a PEG ratio of 2.07 and a beta of 1.39. The stock has a fifty day moving average price of $43.49 and a two-hundred day moving average price of $39.62. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. Research analysts forecast that Baker Hughes will post 2.57 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Tuesday, February 11th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.95%. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date is Tuesday, February 11th. Baker Hughes’s dividend payout ratio (DPR) is presently 28.19%.

Insiders Place Their Bets

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $44.77, for a total transaction of $358,160.00. Following the sale, the executive vice president now owns 173,302 shares in the company, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.25% of the stock is currently owned by company insiders.

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.