Miller Howard Investments Inc. NY Sells 2,463 Shares of Baker Hughes (NASDAQ:BKR)

Miller Howard Investments Inc. NY lowered its position in Baker Hughes (NASDAQ:BKR) by 4.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,210 shares of the company’s stock after selling 2,463 shares during the period. Miller Howard Investments Inc. NY’s holdings in Baker Hughes were worth $2,019,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Ashton Thomas Securities LLC bought a new stake in shares of Baker Hughes in the third quarter worth about $30,000. True Wealth Design LLC increased its stake in Baker Hughes by 2,181.6% during the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company’s stock worth $31,000 after purchasing an additional 829 shares in the last quarter. Continuum Advisory LLC increased its stake in 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 in the last quarter. Eastern Bank raised its holdings in Baker Hughes by 598.4% during the 4th 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. Finally, Capital Performance Advisors LLP bought a new position in Baker Hughes in the third quarter valued at approximately $103,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Trading Down 1.7 %

Shares of NASDAQ:BKR opened at $46.20 on Friday. Baker Hughes has a 12-month low of $28.63 and a 12-month high of $49.40. The business has a 50 day moving average of $43.42 and a 200-day moving average of $39.47. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The stock has a market cap of $45.72 billion, a PE ratio of 15.50, a P/E/G ratio of 2.07 and a beta of 1.39.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) 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%. As a group, equities research analysts forecast that Baker Hughes will post 2.57 earnings per share for the current year.

Baker Hughes Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.99%. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s payout ratio is currently 28.19%.

Insiders Place Their Bets

In related news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $44.77, for a total transaction of $358,160.00. Following the completion of the sale, the executive vice president now owns 173,302 shares of the company’s stock, valued at $7,758,730.54. This represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BKR. TD Cowen cut 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 report on Wednesday, January 8th. Atb Cap Markets cut Baker Hughes from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. JPMorgan Chase & Co. raised their price target on shares of Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Bank of America increased their target price on shares of Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Finally, Piper Sandler lifted their price target on shares of Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $50.18.

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.