USA Financial Formulas Takes Position in Baker Hughes (NASDAQ:BKR)

USA Financial Formulas bought a new position in Baker Hughes (NASDAQ:BKR) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 31,288 shares of the company’s stock, valued at approximately $1,283,000. Baker Hughes comprises approximately 0.2% of USA Financial Formulas’ portfolio, making the stock its 26th biggest position.

Several other institutional investors have also modified their holdings of the stock. Ashton Thomas Securities LLC purchased a new position in Baker Hughes during the third quarter worth about $30,000. True Wealth Design LLC raised its position in Baker Hughes by 2,181.6% in the third quarter. True Wealth Design LLC now owns 867 shares of the company’s stock valued at $31,000 after purchasing an additional 829 shares during the period. Continuum Advisory LLC grew its holdings in shares of 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 purchasing an additional 796 shares during the period. Quarry LP increased its position in shares of Baker Hughes by 81.1% during the 2nd quarter. Quarry LP now owns 1,594 shares of the company’s stock worth $56,000 after purchasing an additional 714 shares during the last quarter. Finally, Eastern Bank boosted its stake in Baker Hughes by 598.4% during the fourth quarter. Eastern Bank now owns 1,739 shares of the company’s stock worth $71,000 after buying an additional 1,490 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Performance

Shares of NASDAQ BKR opened at $45.72 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. The company has a market cap of $45.24 billion, a PE ratio of 20.50, a price-to-earnings-growth ratio of 0.72 and a beta of 1.39. The company has a 50-day simple moving average of $42.54 and a 200-day simple moving average of $38.14. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $45.90.

Baker Hughes (NASDAQ:BKR) last issued 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 company had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.21 billion. During the same period in the previous year, the firm posted $0.42 EPS. Baker Hughes’s revenue was up 4.0% on a year-over-year basis. On average, equities analysts anticipate that Baker Hughes will post 2.29 earnings per share for the current year.

Baker Hughes Announces Dividend

The firm 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 1.84%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is 37.67%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on BKR shares. Piper Sandler assumed coverage on shares of Baker Hughes in a report on Thursday, December 19th. They issued an “overweight” rating and a $53.00 price objective for the company. BMO Capital Markets upped 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. UBS Group cut their price target on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Wells Fargo & Company lifted their price target on shares of Baker Hughes from $42.00 to $49.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, Argus raised shares of Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. 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 stock has an average rating of “Moderate Buy” and a consensus price target of $47.53.

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.