Cetera Trust Company N.A Buys 4,375 Shares of Baker Hughes (NASDAQ:BKR)

Cetera Trust Company N.A increased its stake in shares of Baker Hughes (NASDAQ:BKR) by 20.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,046 shares of the company’s stock after purchasing an additional 4,375 shares during the quarter. Cetera Trust Company N.A’s holdings in Baker Hughes were worth $1,145,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BKR. Strategic Financial Concepts LLC bought a new position in Baker Hughes in the 4th quarter valued at approximately $640,000. Geode Capital Management LLC increased its position in Baker Hughes by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company’s stock valued at $1,004,212,000 after acquiring an additional 465,832 shares during the period. Huntington National Bank raised its stake in shares of Baker Hughes by 16.0% during the fourth quarter. Huntington National Bank now owns 116,303 shares of the company’s stock valued at $4,771,000 after acquiring an additional 16,010 shares during the last quarter. Kesler Norman & Wride LLC bought a new position in shares of Baker Hughes during the fourth quarter valued at $1,011,000. Finally, Brown Financial Advisors acquired a new position in shares of Baker Hughes during the fourth quarter worth $820,000. Institutional investors own 92.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on BKR shares. Citigroup cut their price objective on Baker Hughes from $54.00 to $53.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Stifel Nicolaus set a $50.00 price target on shares of Baker Hughes and gave the company a “buy” rating in a research note on Thursday, April 24th. 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. 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 note on Thursday, April 24th. Finally, TD Cowen cut their target price on Baker Hughes from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, Baker Hughes has an average rating of “Moderate Buy” and an average price target of $49.11.

Baker Hughes Stock Up 2.0%

Baker Hughes stock opened at $37.90 on Monday. The firm has a market cap of $37.55 billion, a P/E ratio of 12.72, a P/E/G ratio of 2.00 and a beta of 0.91. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The business has a fifty day moving average of $37.30 and a two-hundred day moving average of $41.53. Baker Hughes has a twelve month low of $30.93 and a twelve month high of $49.40.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. The business had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.54 billion. On average, analysts forecast that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $0.92 dividend on an annualized basis and a yield of 2.43%. Baker Hughes’s dividend 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.