Baker Hughes (NASDAQ:BKR) Shares Purchased by Parallel Advisors LLC

Parallel Advisors LLC grew its stake in shares of Baker Hughes (NASDAQ:BKR) by 19.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,604 shares of the company’s stock after buying an additional 1,735 shares during the period. Parallel Advisors LLC’s holdings in Baker Hughes were worth $435,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Strategic Financial Concepts LLC purchased a new stake in Baker Hughes in the 4th quarter worth approximately $640,000. Burney Co. grew its position in shares of Baker Hughes by 315.0% in the fourth quarter. Burney Co. now owns 138,788 shares of the company’s stock valued at $5,693,000 after purchasing an additional 105,349 shares during the period. Northstar Advisory Group LLC acquired a new position in Baker Hughes in the fourth quarter valued at $1,180,000. Artemis Investment Management LLP lifted its position in Baker Hughes by 29.4% during the fourth quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company’s stock worth $43,233,000 after buying an additional 239,773 shares during the period. Finally, Czech National Bank lifted its position in Baker Hughes by 6.0% during the fourth quarter. Czech National Bank now owns 214,549 shares of the company’s stock worth $8,801,000 after buying an additional 12,178 shares during the period. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Stock Down 1.3 %

Shares of NASDAQ:BKR opened at $44.11 on Friday. The company has a market capitalization of $43.67 billion, a price-to-earnings ratio of 14.80, a price-to-earnings-growth ratio of 2.00 and a beta of 1.30. The company has a 50 day moving average of $44.97 and a two-hundred day moving average of $41.32. Baker Hughes has a 52-week low of $30.93 and a 52-week high of $49.40. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. As a group, 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 declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were paid a $0.23 dividend. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date was Tuesday, February 11th. This represents a $0.92 annualized dividend and a dividend yield of 2.09%. Baker Hughes’s payout ratio is 30.87%.

Wall Street Analyst Weigh In

BKR has been the subject of a number of research analyst reports. Piper Sandler upped their price objective on shares of Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. The Goldman Sachs Group upped their price target on shares of Baker Hughes from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Royal Bank of Canada increased their price target on shares of Baker Hughes from $49.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Susquehanna upped their price objective on Baker Hughes from $53.00 to $55.00 and gave the stock a “positive” rating in a report on Monday, February 3rd. Finally, Stifel Nicolaus lifted their target price on Baker Hughes from $48.00 to $54.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $51.06.

Insider Activity at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes 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 sale, the executive vice president now directly owns 173,302 shares in the company, valued at $7,758,730.54. The trade was a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is currently owned by company insiders.

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.