Merit Financial Group LLC Boosts Stake in Baker Hughes (NASDAQ:BKR)

Merit Financial Group LLC boosted its position in shares of Baker Hughes (NASDAQ:BKR) by 106.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,220 shares of the company’s stock after purchasing an additional 10,961 shares during the period. Merit Financial Group LLC’s holdings in Baker Hughes were worth $933,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of BKR. Norges Bank purchased a new position in Baker Hughes during the fourth quarter worth about $829,092,000. Raymond James Financial Inc. purchased a new position in Baker Hughes during the fourth quarter worth about $291,289,000. Neuberger Berman Group LLC raised its stake in Baker Hughes by 2,527.6% during the fourth quarter. Neuberger Berman Group LLC now owns 3,319,418 shares of the company’s stock worth $136,158,000 after purchasing an additional 3,193,089 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Baker Hughes during the fourth quarter worth about $128,542,000. Finally, Congress Asset Management Co. purchased a new position in Baker Hughes during the fourth quarter worth about $107,155,000. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Trading Up 2.0%

Shares of BKR stock opened at $37.90 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. The stock has a market capitalization of $37.55 billion, a P/E ratio of 12.72, a price-to-earnings-growth ratio of 2.00 and a beta of 0.91. The company has a 50 day moving average price of $37.30 and a 200 day moving average price of $41.56. Baker Hughes has a fifty-two week low of $30.93 and a fifty-two week high of $49.40.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. The firm had revenue of $6.43 billion during the quarter, compared to analysts’ expectations of $6.54 billion. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. Equities research analysts predict that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Tuesday, May 6th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend was Tuesday, May 6th. Baker Hughes’s dividend payout ratio (DPR) is currently 31.40%.

Analysts Set New Price Targets

A number of equities analysts have commented on BKR shares. TD Cowen reduced their target price on shares of Baker Hughes from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Piper Sandler reduced their target price on shares of Baker Hughes from $53.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Barclays reduced their target price on shares of Baker Hughes from $54.00 to $48.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. TD Securities dropped their price target on shares of Baker Hughes from $50.00 to $49.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Finally, Stifel Nicolaus set a $50.00 price target on shares of Baker Hughes and gave the company a “buy” rating in a research report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Baker Hughes currently has an average rating of “Moderate Buy” and a consensus target price of $49.11.

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.