Resonant Capital Advisors LLC Takes Position in Baker Hughes (NASDAQ:BKR)

Resonant Capital Advisors LLC purchased a new stake in Baker Hughes (NASDAQ:BKR) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 5,506 shares of the company’s stock, valued at approximately $226,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Ashton Thomas Securities LLC acquired a new position in shares of Baker Hughes in the 3rd quarter worth approximately $30,000. True Wealth Design LLC grew its stake in shares of Baker Hughes by 2,181.6% in 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 during the last quarter. Groupama Asset Managment grew its stake in shares of Baker Hughes by 1,045.1% in the 3rd quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock worth $32,000 after purchasing an additional 811,711 shares during the last quarter. Continuum Advisory LLC grew its stake 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 purchasing an additional 796 shares during the last quarter. Finally, Eastern Bank grew its stake in shares of Baker Hughes by 598.4% in the 4th quarter. Eastern Bank now owns 1,739 shares of the company’s stock worth $71,000 after purchasing an additional 1,490 shares during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Atb Cap Markets downgraded shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Barclays lifted their target price on shares of Baker Hughes from $46.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Piper Sandler boosted their price objective on shares of Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday. TD Cowen lowered 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. Finally, Stifel Nicolaus boosted their price objective on shares of Baker Hughes from $48.00 to $54.00 and gave the company a “buy” rating in a research report on Monday. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, Baker Hughes currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.00.

Baker Hughes Stock Performance

NASDAQ:BKR opened at $47.40 on Tuesday. The stock has a market cap of $46.90 billion, a P/E ratio of 15.91, a price-to-earnings-growth ratio of 0.89 and a beta of 1.39. 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 stock’s 50-day moving average is $43.03 and its 200-day moving average is $39.12. Baker Hughes has a 1-year low of $28.32 and a 1-year high of $47.60.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, topping 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 research analysts anticipate that Baker Hughes will post 2.55 earnings per share for the current year.

Baker Hughes Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th will be paid a $0.23 dividend. The ex-dividend date is Tuesday, February 11th. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a yield of 1.94%. Baker Hughes’s payout ratio is 28.19%.

Insider Transactions at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of the company’s 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 sale, the executive vice president now owns 173,302 shares in the company, valued at approximately $7,758,730.54. This represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.25% of the stock is owned by insiders.

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.