New Age Alpha Advisors LLC Buys Shares of 94,840 Baker Hughes (NASDAQ:BKR)

New Age Alpha Advisors LLC purchased a new stake in Baker Hughes (NASDAQ:BKR) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 94,840 shares of the company’s stock, valued at approximately $3,890,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Blair William & Co. IL boosted its position in Baker Hughes by 14.9% during the fourth quarter. Blair William & Co. IL now owns 9,405 shares of the company’s stock valued at $386,000 after purchasing an additional 1,223 shares in the last quarter. Norges Bank bought a new stake in shares of Baker Hughes in the 4th quarter valued at about $829,092,000. LM Advisors LLC purchased a new position in shares of Baker Hughes in the 4th quarter worth approximately $359,000. NEOS Investment Management LLC raised its stake in shares of Baker Hughes by 25.4% during the 4th quarter. NEOS Investment Management LLC now owns 131,784 shares of the company’s stock worth $5,406,000 after acquiring an additional 26,698 shares in the last quarter. Finally, UniSuper Management Pty Ltd lifted its position in Baker Hughes by 13.3% during the fourth quarter. UniSuper Management Pty Ltd now owns 84,220 shares of the company’s stock valued at $3,455,000 after acquiring an additional 9,876 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Piper Sandler lifted their price target on shares of Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Royal Bank of Canada boosted their target price on Baker Hughes from $49.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Barclays increased their price target on Baker Hughes from $51.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Wells Fargo & Company boosted their price target on Baker Hughes from $49.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Stifel Nicolaus increased 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, February 3rd. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, Baker Hughes presently has an average rating of “Moderate Buy” and an average price target of $51.06.

Insider Buying and Selling

In other Baker Hughes 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 value 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. This represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.25% of the stock is currently owned by insiders.

Baker Hughes Price Performance

Shares of BKR opened at $43.08 on Friday. The company has a market capitalization of $42.65 billion, a P/E ratio of 14.46, a P/E/G ratio of 2.00 and a beta of 1.30. The business’s 50-day moving average is $44.81 and its two-hundred day moving average is $41.67. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. Baker Hughes has a fifty-two week low of $30.93 and a fifty-two week high of $49.40.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results 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%. Research analysts predict that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were paid a $0.23 dividend. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend was Tuesday, February 11th. Baker Hughes’s payout ratio is currently 30.87%.

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.