Boothbay Fund Management LLC Cuts Position in Baker Hughes (NASDAQ:BKR)

Boothbay Fund Management LLC trimmed its holdings in shares of Baker Hughes (NASDAQ:BKR) by 94.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,954 shares of the company’s stock after selling 298,669 shares during the quarter. Boothbay Fund Management LLC’s holdings in Baker Hughes were worth $695,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. JFS Wealth Advisors LLC increased its stake in shares of Baker Hughes by 135.9% during the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock worth $27,000 after purchasing an additional 386 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Baker Hughes during the fourth quarter valued at $30,000. Larson Financial Group LLC increased its position in Baker Hughes by 41.2% in the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock worth $30,000 after buying an additional 216 shares during the last quarter. Kestra Investment Management LLC bought a new stake in shares of Baker Hughes in the fourth quarter valued at $45,000. Finally, OFI Invest Asset Management purchased a new position in shares of Baker Hughes during the 4th quarter valued at $47,000. 92.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BKR has been the subject of several recent research reports. Piper Sandler decreased their price objective on Baker Hughes from $53.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. Stifel Nicolaus set a $50.00 target price on shares of Baker Hughes and gave the stock a “buy” rating in a research note on Thursday, April 24th. The Goldman Sachs Group upped their price target on shares of Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Barclays reduced their price objective 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. Finally, Benchmark reaffirmed a “buy” rating and issued a $57.00 price target on shares of Baker Hughes in a report on Tuesday, February 11th. Two research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.11.

Baker Hughes Price Performance

BKR stock opened at $35.92 on Wednesday. The firm has a 50 day simple moving average of $40.95 and a two-hundred day simple moving average of $42.05. The stock has a market cap of $35.56 billion, a PE ratio of 12.05, a P/E/G ratio of 2.00 and a beta of 1.08. Baker Hughes has a one year low of $30.93 and a one year high of $49.40. 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 (NASDAQ:BKR) last announced its earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.03. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. The company had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.54 billion. On average, analysts predict that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend is Tuesday, May 6th. Baker Hughes’s payout ratio is currently 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.