5,753 Shares in Baker Hughes (NASDAQ:BKR) Acquired by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC purchased a new position in Baker Hughes (NASDAQ:BKR) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 5,753 shares of the company’s stock, valued at approximately $253,000.

Other large investors also recently added to or reduced their stakes in the company. JFS Wealth Advisors LLC lifted its holdings in Baker Hughes by 135.9% in the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock worth $27,000 after purchasing an additional 386 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Baker Hughes in the 4th quarter worth approximately $30,000. Larson Financial Group LLC lifted its holdings in Baker Hughes by 41.2% in the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock worth $30,000 after purchasing an additional 216 shares in the last quarter. Kestra Investment Management LLC purchased a new position in Baker Hughes in the 4th quarter worth approximately $45,000. Finally, OFI Invest Asset Management purchased a new position in Baker Hughes in the 4th quarter worth approximately $47,000. 92.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BKR. Evercore ISI reduced their price objective on Baker Hughes from $52.00 to $50.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Susquehanna reduced their price objective on Baker Hughes from $48.00 to $46.00 and set a “positive” rating on the stock in a research note on Thursday, April 24th. TD Securities reduced their price objective on Baker Hughes from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Barclays reduced their price objective on Baker Hughes from $54.00 to $48.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Finally, Piper Sandler reduced their price objective on Baker Hughes from $53.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, Baker Hughes presently has a consensus rating of “Moderate Buy” and an average target price of $49.11.

Baker Hughes Stock Performance

NASDAQ BKR opened at $38.99 on Tuesday. The business’s 50 day moving average price is $37.43 and its 200-day moving average price is $41.33. The company has a market cap of $38.63 billion, a P/E ratio of 13.08, a P/E/G ratio of 2.00 and a beta of 0.91. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. 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 issued its earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share (EPS) 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 analyst estimates of $6.54 billion. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. Sell-side analysts predict that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Tuesday, May 6th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.36%. The ex-dividend date was Tuesday, May 6th. Baker Hughes’s dividend payout ratio is presently 31.40%.

About Baker Hughes

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.