Ritholtz Wealth Management Raises Stake in Baker Hughes (NASDAQ:BKR)

Ritholtz Wealth Management increased its stake in shares of Baker Hughes (NASDAQ:BKR) by 1.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 34,725 shares of the company’s stock after purchasing an additional 339 shares during the period. Ritholtz Wealth Management’s holdings in Baker Hughes were worth $1,526,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. JFS Wealth Advisors LLC lifted its holdings in Baker Hughes by 135.9% during 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 stake in Baker Hughes during the 4th quarter worth about $30,000. Larson Financial Group LLC lifted its holdings in Baker Hughes by 41.2% during 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 stake in Baker Hughes during the 4th quarter worth about $45,000. Finally, OFI Invest Asset Management bought a new position in Baker Hughes in the 4th quarter worth about $47,000. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Price Performance

Shares of Baker Hughes stock opened at $38.99 on Tuesday. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $38.63 billion, a PE ratio of 13.08, a price-to-earnings-growth ratio of 2.00 and a beta of 0.91. The business’s 50-day moving average price is $37.43 and its 200-day moving average price is $41.33. Baker Hughes has a 12 month low of $30.93 and a 12 month high of $49.40.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.03. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. The business had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.54 billion. Sell-side analysts forecast that Baker Hughes will post 2.59 EPS for the current fiscal 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 given a dividend of $0.23 per share. The ex-dividend date was Tuesday, May 6th. This represents a $0.92 annualized dividend and a yield of 2.36%. Baker Hughes’s payout ratio is 31.40%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on BKR shares. Susquehanna decreased their target price 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. Stifel Nicolaus set a $50.00 target price on Baker Hughes and gave the stock a “buy” rating in a research note on Thursday, April 24th. Barclays decreased their target price 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. Royal Bank of Canada decreased their target price on Baker Hughes from $50.00 to $46.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Finally, Piper Sandler decreased their target price 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 analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.11.

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.