SVB Wealth LLC Makes New $440,000 Investment in Baker Hughes (NASDAQ:BKR)

SVB Wealth LLC bought a new stake in Baker Hughes (NASDAQ:BKR) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 10,724 shares of the company’s stock, valued at approximately $440,000.

Several other hedge funds have also modified their holdings of BKR. Geode Capital Management LLC boosted its holdings in Baker Hughes by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 24,078,093 shares of the company’s stock worth $867,514,000 after acquiring an additional 123,172 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its position in shares of Baker Hughes by 34.7% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock worth $394,775,000 after purchasing an additional 2,811,940 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Baker Hughes by 1.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,633,006 shares of the company’s stock valued at $348,233,000 after purchasing an additional 145,537 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Baker Hughes by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,951,703 shares of the company’s stock valued at $251,304,000 after purchasing an additional 22,383 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in Baker Hughes by 0.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,541,076 shares of the company’s stock worth $230,271,000 after buying an additional 45,324 shares during the period. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Baker Hughes Stock Performance

Shares of NASDAQ BKR opened at $42.86 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The firm’s 50-day moving average price is $44.73 and its two-hundred day moving average price is $40.68. Baker Hughes has a 52-week low of $29.30 and a 52-week high of $49.40. The stock has a market capitalization of $42.44 billion, a P/E ratio of 14.38, a P/E/G ratio of 2.00 and a beta of 1.30.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. As a group, sell-side analysts forecast that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.92 annualized dividend and a dividend yield of 2.15%. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s dividend payout ratio is currently 30.87%.

Insider Buying and Selling

In related news, EVP Maria C. Borras sold 8,000 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the transaction, the executive vice president now directly owns 173,302 shares of the company’s stock, valued at $7,758,730.54. This represents a 4.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

BKR has been the subject of a number of analyst reports. Stifel Nicolaus upped their price objective on shares of Baker Hughes from $48.00 to $54.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Jefferies Financial Group increased their price target on Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a report on Friday, January 3rd. The Goldman Sachs Group lifted their price objective on Baker Hughes from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. increased their target price on Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Barclays lifted their price target on shares of Baker Hughes from $51.00 to $55.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $51.06.

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.