Mission Wealth Management LP Cuts Position in Baker Hughes (NASDAQ:BKR)

Mission Wealth Management LP lessened its stake in Baker Hughes (NASDAQ:BKR) by 32.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,973 shares of the company’s stock after selling 7,350 shares during the quarter. Mission Wealth Management LP’s holdings in Baker Hughes were worth $614,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. JFS Wealth Advisors LLC increased its holdings in shares of Baker Hughes by 135.9% in the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock valued at $27,000 after purchasing an additional 386 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Baker Hughes in the 4th quarter valued at about $30,000. Ashton Thomas Securities LLC purchased a new position in shares of Baker Hughes in the 3rd quarter valued at about $30,000. True Wealth Design LLC increased its holdings in shares of Baker Hughes by 2,181.6% in the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company’s stock valued at $31,000 after purchasing an additional 829 shares in the last quarter. Finally, Continuum Advisory LLC increased its holdings in shares of Baker Hughes by 442.2% in the 3rd quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock valued at $35,000 after purchasing an additional 796 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Wall Street Analyst Weigh In

BKR has been the subject of a number of research analyst reports. Citigroup increased their price target on shares of Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Benchmark restated a “buy” rating and set a $57.00 target price on shares of Baker Hughes in a report on Tuesday, February 11th. Piper Sandler raised their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Wells Fargo & Company raised their target price on shares of Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, Evercore ISI raised their target price on shares of Baker Hughes from $46.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, January 15th. Two equities 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.com, the stock has an average rating of “Moderate Buy” and an average price target of $51.06.

Baker Hughes Price Performance

BKR opened at $42.86 on Wednesday. The company’s 50 day simple moving average is $44.73 and its 200 day simple moving average is $40.68. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. Baker Hughes has a 1 year low of $29.30 and a 1 year high of $49.40. The stock has a market capitalization of $42.44 billion, a PE ratio of 14.38, a P/E/G ratio of 2.00 and a beta of 1.30.

Baker Hughes (NASDAQ:BKR) last released its 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, sell-side analysts expect that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

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

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $44.77, for a total transaction of $358,160.00. Following the transaction, the executive vice president now directly owns 173,302 shares of the company’s stock, valued at $7,758,730.54. The trade was a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

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.