Ieq Capital LLC Increases Stock Position in Baker Hughes (NASDAQ:BKR)

Ieq Capital LLC boosted its stake in Baker Hughes (NASDAQ:BKR) by 79.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 122,591 shares of the company’s stock after acquiring an additional 54,322 shares during the period. Ieq Capital LLC’s holdings in Baker Hughes were worth $5,029,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Private Advisor Group LLC lifted its position in Baker Hughes by 94.2% in the fourth quarter. Private Advisor Group LLC now owns 17,658 shares of the company’s stock valued at $724,000 after acquiring an additional 8,565 shares during the last quarter. Global Retirement Partners LLC increased its stake in Baker Hughes by 216.2% in the fourth quarter. Global Retirement Partners LLC now owns 13,024 shares of the company’s stock valued at $534,000 after purchasing an additional 8,905 shares during the period. Key Financial Inc increased its stake in Baker Hughes by 16.3% in the fourth quarter. Key Financial Inc now owns 2,676 shares of the company’s stock valued at $110,000 after purchasing an additional 376 shares during the period. Kestra Investment Management LLC acquired a new position in Baker Hughes in the fourth quarter valued at $45,000. Finally, D.A. Davidson & CO. acquired a new position in Baker Hughes in the fourth quarter valued at $2,452,000. 92.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Baker Hughes

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 sale, the executive vice president now owns 173,302 shares of the company’s stock, valued at $7,758,730.54. This represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BKR. Jefferies Financial Group lifted their price objective on shares of Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. TD Cowen dropped 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 note on Wednesday, January 8th. The Goldman Sachs Group lifted their price objective 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. Benchmark reiterated a “buy” rating and set a $57.00 price target on shares of Baker Hughes in a research note on Tuesday, February 11th. Finally, Atb Cap Markets lowered shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $51.06.

Baker Hughes Trading Down 2.7 %

Shares of BKR opened at $45.62 on Friday. 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 firm’s 50-day moving average is $44.28 and its two-hundred day moving average is $40.16. Baker Hughes has a twelve month low of $28.88 and a twelve month high of $49.40. The firm has a market capitalization of $45.17 billion, a P/E ratio of 15.31, a PEG ratio of 2.06 and a beta of 1.39.

Baker Hughes (NASDAQ:BKR) last issued its 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 net margin of 10.70% and a return on equity of 14.58%. On average, research analysts predict that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend was Tuesday, February 11th. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s dividend payout ratio is 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.