HighPoint Advisor Group LLC Has $374,000 Position in Baker Hughes (NASDAQ:BKR)

HighPoint Advisor Group LLC lifted its stake in Baker Hughes (NASDAQ:BKR) by 24.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,108 shares of the company’s stock after acquiring an additional 1,763 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Baker Hughes were worth $374,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC increased its position 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 purchasing an additional 123,172 shares during the last quarter. Norges Bank acquired a new position in Baker Hughes in the fourth quarter worth approximately $829,092,000. Raymond James Financial Inc. bought a new position in Baker Hughes during the fourth quarter valued at approximately $291,289,000. Charles Schwab Investment Management Inc. lifted its stake in Baker Hughes by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,086,903 shares of the company’s stock valued at $290,705,000 after acquiring an additional 135,200 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Baker Hughes by 0.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,541,076 shares of the company’s stock worth $230,271,000 after acquiring an additional 45,324 shares in the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on BKR shares. Benchmark restated a “buy” rating and set a $57.00 price target on shares of Baker Hughes in a report on Tuesday, February 11th. Barclays reduced their price target on Baker Hughes from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Monday. Piper Sandler increased their price objective on Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Bank of America boosted their target price on Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Finally, The Goldman Sachs Group increased their price target on Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.00.

Insider Activity

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

Baker Hughes Stock Up 0.3 %

BKR stock opened at $44.92 on Thursday. The business’s 50-day simple moving average is $44.69 and its 200 day simple moving average is $41.97. 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 company has a market cap of $44.48 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08. Baker Hughes has a twelve month low of $30.93 and a twelve month high of $49.40.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. On average, research analysts anticipate that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.05%. This is an increase 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 presently 30.87%.

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.