D.A. Davidson & CO. Acquires Shares of 59,783 Baker Hughes (NASDAQ:BKR)

D.A. Davidson & CO. acquired a new stake in Baker Hughes (NASDAQ:BKR) in the 4th quarter, Holdings Channel.com reports. The fund acquired 59,783 shares of the company’s stock, valued at approximately $2,452,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BKR. Empower Advisory Group LLC raised its holdings in shares of Baker Hughes by 1.9% during the 4th quarter. Empower Advisory Group LLC now owns 2,110,969 shares of the company’s stock worth $86,592,000 after buying an additional 39,793 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of Baker Hughes by 3.2% during the 4th quarter. CIBC Asset Management Inc now owns 318,401 shares of the company’s stock worth $13,061,000 after buying an additional 9,764 shares in the last quarter. JFS Wealth Advisors LLC raised its holdings in shares of Baker Hughes by 135.9% during the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock worth $27,000 after buying an additional 386 shares in the last quarter. Nkcfo LLC acquired a new position in shares of Baker Hughes during the 4th quarter worth $839,000. Finally, Sheaff Brock Investment Advisors LLC acquired a new position in shares of Baker Hughes during the 4th quarter worth $7,785,000. 92.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of the company’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 $7,758,730.54. This represents a 4.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is owned by corporate insiders.

Baker Hughes Trading Down 2.7 %

NASDAQ BKR opened at $45.62 on Friday. The business’s 50-day moving average price is $44.28 and its two-hundred day moving average price is $40.16. Baker Hughes has a 12 month low of $28.88 and a 12 month high of $49.40. The firm has a market capitalization of $45.17 billion, a PE ratio of 15.31, a price-to-earnings-growth ratio of 2.06 and a beta of 1.39. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, beating 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%. On average, analysts expect that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were given a dividend of $0.23 per share. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date was Tuesday, February 11th. This represents a $0.92 annualized dividend and a dividend yield of 2.02%. Baker Hughes’s dividend payout ratio is presently 30.87%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on BKR shares. The Goldman Sachs Group boosted their price target on Baker Hughes from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Susquehanna boosted their price target on Baker Hughes from $53.00 to $55.00 and gave the stock a “positive” rating in a report on Monday, February 3rd. Bank of America boosted their price target on Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Citigroup upped their target price on Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Royal Bank of Canada upped their target price on Baker Hughes from $49.00 to $53.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $51.06.

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.