7,201 Shares in Baker Hughes (NASDAQ:BKR) Acquired by Poinciana Advisors Group LLC

Poinciana Advisors Group LLC acquired a new position in Baker Hughes (NASDAQ:BKR) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 7,201 shares of the company’s stock, valued at approximately $295,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in Baker Hughes in the 4th quarter worth approximately $291,289,000. Hotchkis & Wiley Capital Management LLC lifted its position in Baker Hughes by 34.7% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock worth $394,775,000 after buying an additional 2,811,940 shares in the last quarter. Congress Asset Management Co. purchased a new stake in Baker Hughes in the 4th quarter worth approximately $107,155,000. Yaupon Capital Management LP purchased a new stake in Baker Hughes in the 3rd quarter worth approximately $47,296,000. Finally, Eagle Asset Management Inc. lifted its position in Baker Hughes by 18.6% in the 3rd quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company’s stock worth $198,326,000 after buying an additional 860,219 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Stock Performance

Shares of BKR opened at $42.84 on Friday. The company has a market capitalization of $42.42 billion, a PE ratio of 14.38, a price-to-earnings-growth ratio of 2.00 and a beta of 1.30. Baker Hughes has a one year low of $30.93 and a one year high of $49.40. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. The company’s fifty day moving average price is $44.88 and its 200 day moving average price is $41.01.

Baker Hughes (NASDAQ:BKR) last posted 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 net margin of 10.70% and a return on equity of 14.58%. As a group, analysts expect that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

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

Insiders Place Their Bets

In other news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $44.77, for a total transaction of $358,160.00. Following the sale, the executive vice president now directly owns 173,302 shares in the company, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

BKR has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their target price on shares of Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. The Goldman Sachs Group raised their price target on shares of Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. TD Cowen cut their price target on shares of Baker Hughes from $53.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Jefferies Financial Group raised their price target on shares of Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Finally, Royal Bank of Canada raised their price target on shares of Baker Hughes from $49.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.