Baker Hughes (NASDAQ:BKR) Shares Bought by Sabal Trust CO

Sabal Trust CO raised its holdings in shares of Baker Hughes (NASDAQ:BKR) by 15.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,891 shares of the company’s stock after acquiring an additional 4,285 shares during the quarter. Sabal Trust CO’s holdings in Baker Hughes were worth $1,349,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in BKR. Assenagon Asset Management S.A. raised its position in Baker Hughes by 15.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 40,838 shares of the company’s stock valued at $1,476,000 after purchasing an additional 5,570 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Baker Hughes by 41.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 40,050 shares of the company’s stock worth $1,448,000 after purchasing an additional 11,834 shares during the last quarter. J.W. Cole Advisors Inc. acquired a new stake in shares of Baker Hughes during the third quarter worth $218,000. Pallas Capital Advisors LLC lifted its holdings in shares of Baker Hughes by 18.9% during the third quarter. Pallas Capital Advisors LLC now owns 81,175 shares of the company’s stock worth $2,986,000 after purchasing an additional 12,894 shares during the period. Finally, China Universal Asset Management Co. Ltd. increased its stake in Baker Hughes by 110.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 12,601 shares of the company’s stock valued at $456,000 after buying an additional 6,601 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

Wall Street Analyst Weigh In

BKR has been the topic of several analyst reports. Wells Fargo & Company lifted their target price on shares of Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Piper Sandler raised their price target on Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Benchmark restated a “buy” rating and set a $57.00 target price on shares of Baker Hughes in a research report on Tuesday, February 11th. Citigroup boosted their price target on Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, The Goldman Sachs Group increased 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. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.06.

Insider Transactions at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 173,302 shares of the company’s stock, valued at approximately $7,758,730.54. This represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.25% of the company’s stock.

Baker Hughes Price Performance

Shares of NASDAQ BKR opened at $44.04 on Wednesday. The business has a 50-day moving average of $44.38 and a 200-day moving average of $40.38. The company has a market capitalization of $43.60 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 2.00 and a beta of 1.39. 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 has a 1-year low of $29.19 and a 1-year high of $49.40.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, beating 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, equities analysts anticipate that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.09%. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Tuesday, February 11th. Baker Hughes’s dividend payout ratio is 30.87%.

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.