Gulf International Bank UK Ltd Sells 817 Shares of Baker Hughes (NASDAQ:BKR)

Gulf International Bank UK Ltd lessened its holdings in Baker Hughes (NASDAQ:BKR) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 79,179 shares of the company’s stock after selling 817 shares during the period. Gulf International Bank UK Ltd’s holdings in Baker Hughes were worth $3,247,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. JFS Wealth Advisors LLC raised its holdings in Baker Hughes by 135.9% during the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock valued at $27,000 after buying an additional 386 shares during the period. Ashton Thomas Securities LLC purchased a new position in Baker Hughes during the third quarter worth $30,000. True Wealth Design LLC increased its position in Baker Hughes by 2,181.6% during the third quarter. True Wealth Design LLC now owns 867 shares of the company’s stock valued at $31,000 after acquiring an additional 829 shares during the last quarter. Groupama Asset Managment raised its stake in shares of Baker Hughes by 1,045.1% in the third quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock valued at $32,000 after acquiring an additional 811,711 shares during the period. Finally, Continuum Advisory LLC lifted its holdings in shares of Baker Hughes by 442.2% in the 3rd quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock worth $35,000 after acquiring an additional 796 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Price Performance

Shares of NASDAQ BKR opened at $43.58 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. The firm has a market cap of $43.15 billion, a PE ratio of 14.62, a PEG ratio of 2.00 and a beta of 1.39. Baker Hughes has a one year low of $29.19 and a one year high of $49.40. The firm has a fifty day moving average of $44.53 and a 200 day moving average of $40.42.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share 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%. As a group, research analysts predict that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th were issued a $0.23 dividend. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date was Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a yield of 2.11%. Baker Hughes’s dividend payout ratio is presently 30.87%.

Analysts Set New Price Targets

A number of research firms recently weighed in on BKR. Citigroup increased their price objective on shares of Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Piper Sandler increased their price target on Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. The Goldman Sachs Group raised their price target on Baker Hughes from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Susquehanna upped their price objective on Baker Hughes from $53.00 to $55.00 and gave the company a “positive” rating in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. lifted their target price on Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $51.06.

Insiders Place Their Bets

In other news, EVP Maria C. Borras sold 8,000 shares of the business’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 transaction, the executive vice president now owns 173,302 shares of the company’s stock, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.25% of the company’s stock.

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.