Orion Portfolio Solutions LLC Cuts Stock Position in Baker Hughes (NASDAQ:BKR)

Orion Portfolio Solutions LLC decreased its holdings in shares of Baker Hughes (NASDAQ:BKR) by 2.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,037 shares of the company’s stock after selling 721 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Baker Hughes were worth $1,355,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Benjamin Edwards Inc. bought a new stake in shares of Baker Hughes in the 3rd quarter valued at approximately $283,000. Ascent Group LLC bought a new stake in Baker Hughes in the third quarter worth $221,000. Morse Asset Management Inc purchased a new position in Baker Hughes during the third quarter worth $1,263,000. Quantinno Capital Management LP boosted its stake in Baker Hughes by 17.0% during the third quarter. Quantinno Capital Management LP now owns 150,568 shares of the company’s stock worth $5,443,000 after buying an additional 21,890 shares during the period. Finally, Quadrature Capital Ltd bought a new position in Baker Hughes during the third quarter valued at $322,000. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Price Performance

NASDAQ BKR opened at $35.41 on Friday. The company has a market cap of $35.06 billion, a PE ratio of 11.88, a P/E/G ratio of 2.00 and a beta of 1.08. The firm’s 50 day moving average price is $44.40 and its 200-day moving average price is $41.97. 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 has a 52-week low of $30.93 and a 52-week high of $49.40.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. Sell-side analysts forecast that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.60%. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Tuesday, February 11th. Baker Hughes’s dividend payout ratio is presently 30.87%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Bank of America lifted their price target on shares of Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Evercore ISI upped their target price on Baker Hughes from $46.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday, January 15th. Atb Cap Markets downgraded Baker Hughes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Piper Sandler boosted their price objective on Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, Wells Fargo & Company increased their target price on Baker Hughes from $49.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.00.

Insider Transactions at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes 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 completion of the transaction, the executive vice president now owns 173,302 shares in the company, valued at approximately $7,758,730.54. This trade represents a 4.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.25% of the company’s stock.

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.