Baker Hughes (NASDAQ:BKR) Shares Sold by Palo Duro Investment Partners LP

Palo Duro Investment Partners LP cut its holdings in shares of Baker Hughes (NASDAQ:BKR) by 19.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 181,751 shares of the company’s stock after selling 45,120 shares during the period. Baker Hughes accounts for approximately 2.2% of Palo Duro Investment Partners LP’s holdings, making the stock its 8th biggest holding. Palo Duro Investment Partners LP’s holdings in Baker Hughes were worth $7,455,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Dynasty Wealth Management LLC boosted its holdings in shares of Baker Hughes by 2.7% in the fourth quarter. Dynasty Wealth Management LLC now owns 7,904 shares of the company’s stock valued at $324,000 after buying an additional 207 shares during the period. Larson Financial Group LLC raised its stake in shares of Baker Hughes by 41.2% in the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock valued at $30,000 after purchasing an additional 216 shares during the period. Alpine Woods Capital Investors LLC boosted its position in shares of Baker Hughes by 0.7% during the fourth quarter. Alpine Woods Capital Investors LLC now owns 40,467 shares of the company’s stock worth $1,660,000 after buying an additional 267 shares during the period. Cromwell Holdings LLC grew its holdings in shares of Baker Hughes by 9.3% during the fourth quarter. Cromwell Holdings LLC now owns 3,169 shares of the company’s stock worth $130,000 after buying an additional 269 shares in the last quarter. Finally, 180 Wealth Advisors LLC lifted its stake in Baker Hughes by 1.3% in the 4th quarter. 180 Wealth Advisors LLC now owns 22,506 shares of the company’s stock valued at $923,000 after acquiring an additional 295 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Analyst Upgrades and Downgrades

BKR has been the subject of several recent research reports. Royal Bank of Canada reduced their target price on shares of Baker Hughes from $50.00 to $46.00 and set an “outperform” rating for the company in a report on Thursday, April 24th. Piper Sandler dropped their target price on shares of Baker Hughes from $53.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th. The Goldman Sachs Group lifted their price objective on shares of Baker Hughes from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. TD Securities dropped their price objective on shares of Baker Hughes from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Finally, Barclays cut their target price on shares of Baker Hughes from $54.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, Baker Hughes has a consensus rating of “Moderate Buy” and an average price target of $49.11.

Baker Hughes Trading Up 1.5%

BKR opened at $38.18 on Wednesday. The firm has a market capitalization of $37.83 billion, a price-to-earnings ratio of 12.81, a PEG ratio of 2.00 and a beta of 0.96. The company’s 50 day moving average price is $39.56 and its two-hundred day moving average price is $42.04. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. 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 posted its quarterly earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. The business had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.54 billion. As a group, research analysts predict that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Tuesday, May 6th. Baker Hughes’s dividend payout ratio is 31.40%.

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.