Wedmont Private Capital Increases Stock Position in Baker Hughes (NASDAQ:BKR)

Wedmont Private Capital boosted its holdings in Baker Hughes (NASDAQ:BKR) by 4.0% in the 4th quarter, Holdings Channel reports. The firm owned 18,865 shares of the company’s stock after purchasing an additional 729 shares during the period. Wedmont Private Capital’s holdings in Baker Hughes were worth $816,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of BKR. Bridges Investment Management Inc. raised its holdings in shares of Baker Hughes by 3.1% in the third quarter. Bridges Investment Management Inc. now owns 9,203 shares of the company’s stock valued at $333,000 after buying an additional 273 shares during the last quarter. Graypoint LLC raised its stake in Baker Hughes by 3.0% during the 3rd quarter. Graypoint LLC now owns 10,288 shares of the company’s stock valued at $372,000 after acquiring an additional 301 shares during the last quarter. First Trust Direct Indexing L.P. lifted its position in Baker Hughes by 1.4% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 29,841 shares of the company’s stock worth $1,079,000 after acquiring an additional 398 shares during the period. Hantz Financial Services Inc. grew its stake in shares of Baker Hughes by 4.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 9,027 shares of the company’s stock valued at $326,000 after purchasing an additional 401 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Baker Hughes by 1.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 40,525 shares of the company’s stock valued at $1,662,000 after purchasing an additional 475 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on BKR. Jefferies Financial Group increased their price target on Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. UBS Group dropped their price target on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. Argus upgraded shares of Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. TD Cowen lowered their price objective on Baker Hughes from $53.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Finally, Citigroup increased their target price on Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $47.18.

Baker Hughes Stock Up 0.5 %

Shares of NASDAQ BKR opened at $45.07 on Wednesday. The firm has a market cap of $44.60 billion, a P/E ratio of 20.21, a price-to-earnings-growth ratio of 0.72 and a beta of 1.39. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $45.30. The firm’s 50 day moving average price is $42.54 and its 200 day moving average price is $38.14.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The business had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.21 billion. During the same quarter in the previous year, the business earned $0.42 earnings per share. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Baker Hughes will post 2.29 earnings per share for the current year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.84 annualized dividend and a dividend yield of 1.86%. Baker Hughes’s payout ratio is currently 37.67%.

About Baker Hughes

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.