LPL Financial LLC Grows Holdings in Baker Hughes (NASDAQ:BKR)

LPL Financial LLC raised its stake in Baker Hughes (NASDAQ:BKR) by 57.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 289,414 shares of the company’s stock after buying an additional 105,878 shares during the period. LPL Financial LLC’s holdings in Baker Hughes were worth $11,872,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in BKR. Raymond James Financial Inc. purchased a new stake in Baker Hughes during the fourth quarter valued at about $291,289,000. Congress Asset Management Co. purchased a new position in shares of Baker Hughes during the 4th quarter valued at about $107,155,000. Yaupon Capital Management LP purchased a new position in shares of Baker Hughes during the 3rd quarter valued at about $47,296,000. Natixis Advisors LLC lifted its position in Baker Hughes by 217.5% in the 4th quarter. Natixis Advisors LLC now owns 1,728,450 shares of the company’s stock worth $70,901,000 after buying an additional 1,184,036 shares during the last quarter. Finally, Groupama Asset Managment boosted its stake in Baker Hughes by 1,045.1% in the third quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock worth $32,000 after buying an additional 811,711 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Trading Up 0.3 %

NASDAQ:BKR opened at $44.92 on Thursday. Baker Hughes has a 12 month low of $30.93 and a 12 month high of $49.40. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. The company has a 50-day moving average price of $44.69 and a 200-day moving average price of $41.97. The stock has a market cap of $44.48 billion, a price-to-earnings ratio of 15.07, a P/E/G ratio of 2.00 and a beta of 1.30.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Thursday, January 30th. The company reported $0.70 earnings per share 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%. Equities analysts predict that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.05%. This is a boost 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 research analysts have recently weighed in on BKR shares. Stifel Nicolaus boosted their price objective on shares of Baker Hughes from $48.00 to $54.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. TD Cowen lowered their price target on shares of Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Wells Fargo & Company raised their price objective on Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Susquehanna boosted their target price on Baker Hughes from $53.00 to $55.00 and gave the company a “positive” rating in a research note on Monday, February 3rd. Finally, Atb Cap Markets lowered Baker Hughes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, Baker Hughes presently has a consensus rating of “Moderate Buy” and an average price target of $51.00.

Insiders Place Their Bets

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction on 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. The trade was a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.25% of the stock is owned by corporate 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.