Toroso Investments LLC Boosts Stock Position in Baker Hughes (NASDAQ:BKR)

Toroso Investments LLC boosted its holdings in Baker Hughes (NASDAQ:BKR – Get Rating) by 12.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,668 shares of the company’s stock after purchasing an additional 5,019 shares during the period. Toroso Investments LLC’s holdings in Baker Hughes were worth $957,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Utah Retirement Systems raised its stake in shares of Baker Hughes by 25.7% in the second quarter. Utah Retirement Systems now owns 165,051 shares of the company’s stock valued at $4,765,000 after buying an additional 33,700 shares during the period. CastleArk Alternatives LLC bought a new stake in shares of Baker Hughes in the second quarter valued at $388,000. Guggenheim Capital LLC raised its stake in shares of Baker Hughes by 4.9% in the third quarter. Guggenheim Capital LLC now owns 283,158 shares of the company’s stock valued at $5,935,000 after buying an additional 13,204 shares during the period. Mission Wealth Management LP raised its stake in shares of Baker Hughes by 4.2% in the third quarter. Mission Wealth Management LP now owns 23,407 shares of the company’s stock valued at $491,000 after buying an additional 933 shares during the period. Finally, Pallas Capital Advisors LLC bought a new stake in shares of Baker Hughes in the third quarter valued at $1,288,000. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Piper Sandler upgraded Baker Hughes from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $34.00 to $43.00 in a research note on Wednesday, February 15th. Evercore ISI boosted their price objective on Baker Hughes from $33.00 to $37.00 and gave the company an “outperform” rating in a research note on Tuesday, January 24th. JPMorgan Chase & Co. upgraded Baker Hughes from a “neutral” rating to an “overweight” rating and set a $32.00 price objective on the stock in a research note on Wednesday. Barclays boosted their price objective on Baker Hughes from $38.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, January 25th. Finally, HSBC boosted their price objective on Baker Hughes from $33.30 to $39.00 in a research note on Monday, January 30th. One analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.11.

Baker Hughes Price Performance

BKR opened at $26.92 on Friday. The stock has a market capitalization of $27.22 billion, a P/E ratio of -44.87 and a beta of 1.46. Baker Hughes has a 12-month low of $20.42 and a 12-month high of $39.78. The stock has a 50-day moving average price of $30.91 and a 200-day moving average price of $28.17. The company has a current ratio of 1.32, a quick ratio of 0.90 and a debt-to-equity ratio of 0.41.

Baker Hughes (NASDAQ:BKR – Get Rating) last issued its earnings results on Monday, January 23rd. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.02). The company had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $6.07 billion. Baker Hughes had a negative net margin of 2.85% and a positive return on equity of 5.98%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.25 earnings per share. Equities analysts predict that Baker Hughes will post 1.57 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 17th. Investors of record on Monday, February 6th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend was Friday, February 3rd. Baker Hughes’s dividend payout ratio is presently -126.67%.

Insider Activity at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 9,811 shares of the company’s stock in a transaction that occurred on Tuesday, January 31st. The stock was sold at an average price of $30.93, for a total transaction of $303,454.23. Following the completion of the transaction, the executive vice president now owns 59,463 shares of the company’s stock, valued at approximately $1,839,190.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is currently owned by company insiders.

Baker Hughes Profile

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Baker Hughes Co is a holding company, which engages in the provision of oilfield products, services, and digital solutions. It operates through the Oilfield Services and Equipment (OFSE) and industrial and Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides services for onshore and offshore oilfield operations.