Ashton Thomas Securities LLC Boosts Stock Holdings in Baker Hughes (NASDAQ:BKR)

Ashton Thomas Securities LLC increased its position in shares of Baker Hughes (NASDAQ:BKR) by 1,495.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,374 shares of the company’s stock after buying an additional 12,536 shares during the period. Ashton Thomas Securities LLC’s holdings in Baker Hughes were worth $549,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quest Partners LLC increased its position in shares of Baker Hughes by 446,900.0% in the third quarter. Quest Partners LLC now owns 4,470 shares of the company’s stock valued at $162,000 after buying an additional 4,469 shares in the last quarter. Cerity Partners LLC lifted its holdings in Baker Hughes by 90.4% during the third quarter. Cerity Partners LLC now owns 132,652 shares of the company’s stock valued at $4,795,000 after purchasing an additional 62,980 shares in the last quarter. Pitcairn Co. grew its position in shares of Baker Hughes by 30.2% in the third quarter. Pitcairn Co. now owns 12,083 shares of the company’s stock valued at $437,000 after purchasing an additional 2,805 shares during the period. Swedbank AB increased its stake in shares of Baker Hughes by 24.2% during the third quarter. Swedbank AB now owns 656,571 shares of the company’s stock worth $23,735,000 after purchasing an additional 128,031 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its position in shares of Baker Hughes by 11.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 185,227 shares of the company’s stock worth $6,696,000 after purchasing an additional 19,278 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Piper Sandler boosted their price objective on Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Susquehanna boosted their price target on Baker Hughes from $53.00 to $55.00 and gave the stock a “positive” rating in a research report on Monday, February 3rd. Jefferies Financial Group raised their price objective on Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Barclays increased their target price on shares of Baker Hughes from $51.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Finally, Atb Cap Markets lowered shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $51.06.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were 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 owns 173,302 shares of the company’s stock, valued at $7,758,730.54. This trade represents a 4.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.25% of the stock is currently owned by corporate insiders.

Baker Hughes Price Performance

Shares of BKR opened at $45.18 on Wednesday. The firm has a 50-day simple moving average of $44.97 and a two-hundred day simple moving average of $41.58. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. Baker Hughes has a 1-year low of $30.93 and a 1-year high of $49.40. The stock has a market cap of $44.73 billion, a PE ratio of 15.16, a P/E/G ratio of 2.00 and a beta of 1.30.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, topping 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%. As a group, analysts forecast that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors 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 yield of 2.04%. This is a boost 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 30.87%.

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.