Orange Investment Advisors Inc. lowered its position in shares of Baker Hughes Company (NASDAQ:BKR – Free Report) by 13.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 102,553 shares of the company’s stock after selling 15,701 shares during the quarter. Orange Investment Advisors Inc.’s holdings in Baker Hughes were worth $4,670,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the business. Activest Wealth Management boosted its position in shares of Baker Hughes by 1,242.5% during the 3rd quarter. Activest Wealth Management now owns 537 shares of the company’s stock valued at $26,000 after purchasing an additional 497 shares in the last quarter. Cullen Frost Bankers Inc. lifted its position in shares of Baker Hughes by 344.1% during the 4th quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company’s stock valued at $27,000 after acquiring an additional 468 shares during the period. JFS Wealth Advisors LLC boosted its stake in Baker Hughes by 45.1% during the fourth quarter. JFS Wealth Advisors LLC now owns 811 shares of the company’s stock worth $37,000 after acquiring an additional 252 shares in the last quarter. Wolff Wiese Magana LLC grew its holdings in Baker Hughes by 55.6% in the fourth quarter. Wolff Wiese Magana LLC now owns 840 shares of the company’s stock worth $38,000 after purchasing an additional 300 shares during the period. Finally, Emerald Mutual Fund Advisers Trust bought a new stake in Baker Hughes in the third quarter valued at $65,000. 92.06% of the stock is owned by institutional investors.
Baker Hughes Stock Performance
Shares of BKR opened at $65.80 on Friday. The company has a current ratio of 2.13, a quick ratio of 1.77 and a debt-to-equity ratio of 0.79. Baker Hughes Company has a 12-month low of $35.83 and a 12-month high of $70.41. The stock has a 50-day moving average price of $62.66 and a 200-day moving average price of $56.11. The company has a market cap of $65.28 billion, a PE ratio of 21.02, a price-to-earnings-growth ratio of 2.37 and a beta of 0.97.
Baker Hughes Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.4%. Baker Hughes’s payout ratio is presently 29.39%.
Insider Activity
In other Baker Hughes news, insider Maria Georgia Magno sold 5,063 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $59.04, for a total transaction of $298,919.52. Following the transaction, the insider owned 15,555 shares in the company, valued at approximately $918,367.20. This represents a 24.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lorenzo Simonelli sold 272,594 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $58.79, for a total value of $16,025,801.26. Following the completion of the transaction, the chief executive officer owned 866,444 shares of the company’s stock, valued at approximately $50,938,242.76. The trade was a 23.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 550,250 shares of company stock worth $32,988,331 in the last quarter. 0.19% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on the company. iA Financial set a $60.00 target price on Baker Hughes in a research note on Tuesday, January 27th. Susquehanna raised their price objective on Baker Hughes from $70.00 to $80.00 and gave the company a “positive” rating in a research note on Monday, April 27th. UBS Group boosted their price objective on Baker Hughes from $69.00 to $73.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Johnson Rice initiated coverage on Baker Hughes in a report on Wednesday, February 25th. They issued a “buy” rating and a $68.00 target price on the stock. Finally, Stifel Nicolaus boosted their price target on shares of Baker Hughes from $63.00 to $74.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Eighteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $69.41.
Read Our Latest Analysis on BKR
Baker Hughes Profile
Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.
The firm’s roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE’s oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.
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Want to see what other hedge funds are holding BKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Baker Hughes Company (NASDAQ:BKR – Free Report).
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