Magnus Financial Group LLC acquired a new position in Baker Hughes (NASDAQ:BKR – Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,559 shares of the company’s stock, valued at approximately $201,000.
Several other hedge funds have also recently made changes to their positions in BKR. Redmont Wealth Advisors LLC acquired a new stake in shares of Baker Hughes in the 1st quarter valued at about $27,000. New Covenant Trust Company N.A. acquired a new stake in shares of Baker Hughes in the 1st quarter valued at about $34,000. Alta Advisers Ltd acquired a new stake in shares of Baker Hughes in the 2nd quarter valued at about $42,000. Headlands Technologies LLC acquired a new stake in shares of Baker Hughes in the 2nd quarter valued at about $48,000. Finally, Rise Advisors LLC grew its stake in shares of Baker Hughes by 46.9% in the 1st quarter. Rise Advisors LLC now owns 1,667 shares of the company’s stock valued at $56,000 after buying an additional 532 shares during the period. 92.06% of the stock is owned by institutional investors.
Baker Hughes Price Performance
Shares of NASDAQ BKR opened at $36.74 on Thursday. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $39.05. The stock’s 50 day moving average price is $35.46 and its 200-day moving average price is $34.25. The company has a market capitalization of $36.67 billion, a PE ratio of 20.53, a PEG ratio of 0.61 and a beta of 1.38. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 0.37.
Baker Hughes Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Tuesday, August 6th were issued a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.29%. Baker Hughes’s dividend payout ratio (DPR) is presently 46.93%.
Insider Buying and Selling
In related news, CEO Lorenzo Simonelli sold 114,286 shares of Baker Hughes stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $35.00, for a total value of $4,000,010.00. Following the sale, the chief executive officer now owns 502,053 shares of the company’s stock, valued at approximately $17,571,855. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Several analysts have recently commented on BKR shares. Wells Fargo & Company upgraded Baker Hughes from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $40.00 to $42.00 in a research note on Wednesday, September 25th. Bank of America reduced their target price on Baker Hughes from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Monday, July 15th. BMO Capital Markets lifted their price target on Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Benchmark reiterated a “buy” rating and set a $40.00 price target on shares of Baker Hughes in a research note on Friday, July 26th. Finally, Piper Sandler cut their price target on Baker Hughes from $45.00 to $44.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Baker Hughes has an average rating of “Moderate Buy” and a consensus target price of $43.59.
Check Out Our Latest Research Report on BKR
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.
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