JB Capital LLC Boosts Holdings in Baker Hughes (NASDAQ:BKR)

JB Capital LLC raised its position in Baker Hughes (NASDAQ:BKR) by 4.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 80,602 shares of the company’s stock after purchasing an additional 3,757 shares during the period. JB Capital LLC’s holdings in Baker Hughes were worth $3,306,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Creative Planning increased its position in shares of Baker Hughes by 36.5% in the 2nd quarter. Creative Planning now owns 61,976 shares of the company’s stock worth $2,180,000 after purchasing an additional 16,582 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Baker Hughes by 39.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 10,227 shares of the company’s stock valued at $360,000 after buying an additional 2,898 shares in the last quarter. Sanctuary Advisors LLC bought a new position in Baker Hughes during the 2nd quarter worth approximately $1,505,000. Massmutual Trust Co. FSB ADV grew its position in shares of Baker Hughes by 26.2% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 2,867 shares of the company’s stock worth $104,000 after acquiring an additional 595 shares in the last quarter. Finally, Czech National Bank increased its holdings in shares of Baker Hughes by 6.4% in the 3rd quarter. Czech National Bank now owns 202,371 shares of the company’s stock valued at $7,316,000 after acquiring an additional 12,192 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Price Performance

NASDAQ:BKR opened at $46.18 on Monday. The business’s 50-day moving average price is $43.03 and its 200 day moving average price is $39.10. The firm has a market cap of $45.70 billion, a P/E ratio of 15.50, a PEG ratio of 0.89 and a beta of 1.39. 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 $28.32 and a 52-week high of $47.60.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data 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%. As a group, sell-side analysts predict that Baker Hughes will post 2.55 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.99%. 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%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BKR shares. TD Cowen dropped their price objective on shares of Baker Hughes from $53.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Benchmark reiterated a “buy” rating and issued a $42.00 target price on shares of Baker Hughes in a research note on Thursday, October 24th. Piper Sandler initiated coverage on shares of Baker Hughes in a research report on Thursday, December 19th. They issued an “overweight” rating and a $53.00 price objective on the stock. Susquehanna boosted their target price on shares of Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a research note on Thursday, October 24th. Finally, Wells Fargo & Company raised their price target on shares of Baker Hughes from $42.00 to $49.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $48.06.

Insider Transactions at Baker Hughes

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