Sage Mountain Advisors LLC Makes New Investment in Baker Hughes (NASDAQ:BKR)

Sage Mountain Advisors LLC acquired a new position in shares of Baker Hughes (NASDAQ:BKR) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 6,440 shares of the company’s stock, valued at approximately $264,000.

Several other large investors also recently added to or reduced their stakes in BKR. Assetmark Inc. increased its stake in Baker Hughes by 6.5% during the third quarter. Assetmark Inc. now owns 20,163 shares of the company’s stock worth $729,000 after acquiring an additional 1,230 shares during the last quarter. Atria Investments Inc grew its stake in shares of Baker Hughes by 11.3% during the third quarter. Atria Investments Inc now owns 14,822 shares of the company’s stock valued at $536,000 after buying an additional 1,505 shares during the last quarter. Crossmark Global Holdings Inc. grew its stake in shares of Baker Hughes by 2.5% during the third quarter. Crossmark Global Holdings Inc. now owns 44,795 shares of the company’s stock valued at $1,620,000 after buying an additional 1,104 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Baker Hughes during the third quarter valued at approximately $30,000. Finally, Venturi Wealth Management LLC grew its stake in shares of Baker Hughes by 42.4% during the third quarter. Venturi Wealth Management LLC now owns 3,998 shares of the company’s stock valued at $145,000 after buying an additional 1,190 shares during the last quarter. 92.06% of the stock is owned by institutional investors.

Baker Hughes Stock Up 1.5 %

Baker Hughes stock opened at $42.48 on Thursday. The business has a fifty day moving average of $44.87 and a two-hundred day moving average of $40.95. 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 firm has a market cap of $42.06 billion, a P/E ratio of 14.26, a P/E/G ratio of 2.00 and a beta of 1.30. Baker Hughes has a twelve month low of $30.93 and a twelve month high of $49.40.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. On average, analysts forecast that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend was Tuesday, February 11th. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s dividend payout ratio is currently 30.87%.

Insider Activity

In other news, EVP Maria C. Borras sold 8,000 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $44.77, for a total transaction of $358,160.00. Following the completion of the sale, the executive vice president now owns 173,302 shares in the company, valued at approximately $7,758,730.54. This represents a 4.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on BKR shares. Susquehanna upped their target price on Baker Hughes from $53.00 to $55.00 and gave the company a “positive” rating in a research note on Monday, February 3rd. Evercore ISI upped their target price on Baker Hughes from $46.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday, January 15th. Royal Bank of Canada upped their target price on Baker Hughes from $49.00 to $53.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Piper Sandler increased their price objective on Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Wells Fargo & Company increased their price objective on Baker Hughes from $49.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, Baker Hughes has an average rating of “Moderate Buy” and an average target price of $51.06.

Baker Hughes 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.