Baker Hughes (NASDAQ:BKR) Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC trimmed its holdings in shares of Baker Hughes (NASDAQ:BKR) by 35.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,024 shares of the company’s stock after selling 10,778 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Baker Hughes were worth $870,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of BKR. Dynasty Wealth Management LLC raised its stake in Baker Hughes by 2.7% in the 4th quarter. Dynasty Wealth Management LLC now owns 7,904 shares of the company’s stock worth $324,000 after acquiring an additional 207 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of Baker Hughes by 41.2% during the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock worth $30,000 after purchasing an additional 216 shares during the period. Alpine Woods Capital Investors LLC boosted its position in Baker Hughes by 0.7% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 40,467 shares of the company’s stock valued at $1,660,000 after buying an additional 267 shares during the last quarter. Cromwell Holdings LLC increased its holdings in Baker Hughes by 9.3% in the 4th quarter. Cromwell Holdings LLC now owns 3,169 shares of the company’s stock worth $130,000 after buying an additional 269 shares during the period. Finally, 180 Wealth Advisors LLC raised its position in Baker Hughes by 1.3% during the 4th quarter. 180 Wealth Advisors LLC now owns 22,506 shares of the company’s stock worth $923,000 after buying an additional 295 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Stock Performance

Shares of Baker Hughes stock opened at $35.41 on Friday. The firm has a market cap of $35.06 billion, a PE ratio of 11.88, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. Baker Hughes has a 52 week low of $30.93 and a 52 week high of $49.40. The business’s fifty day simple moving average is $44.40 and its 200-day simple moving average is $41.97.

Baker Hughes (NASDAQ:BKR) last posted its 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 net margin of 10.70% and a return on equity of 14.58%. Equities analysts forecast that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

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

Insider Buying and Selling at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of the firm’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 completion of the transaction, the executive vice president now directly owns 173,302 shares in the company, valued at $7,758,730.54. This trade represents a 4.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.25% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently commented on BKR shares. Bank of America upped their price objective on shares of Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Evercore ISI lifted their target price on shares of Baker Hughes from $46.00 to $52.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 15th. Stifel Nicolaus increased their target price on shares of Baker Hughes from $48.00 to $54.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Piper Sandler raised their price target on shares of Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Jefferies Financial Group upped their price objective on shares of Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $51.00.

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.