City Center Advisors LLC Increases Stake in Baker Hughes (NASDAQ:BKR)

City Center Advisors LLC lifted its stake in Baker Hughes (NASDAQ:BKR) by 53.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,484 shares of the company’s stock after buying an additional 3,994 shares during the quarter. City Center Advisors LLC’s holdings in Baker Hughes were worth $471,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BKR. National Pension Service raised its holdings in shares of Baker Hughes by 6.4% during the 3rd quarter. National Pension Service now owns 1,362,973 shares of the company’s stock worth $49,271,000 after acquiring an additional 81,625 shares in the last quarter. Hixon Zuercher LLC bought a new stake in Baker Hughes in the third quarter worth $1,980,000. Banque Cantonale Vaudoise raised its stake in Baker Hughes by 76.1% during the third quarter. Banque Cantonale Vaudoise now owns 122,661 shares of the company’s stock valued at $4,434,000 after purchasing an additional 53,006 shares in the last quarter. National Bank of Canada FI lifted its position in Baker Hughes by 60.3% during the third quarter. National Bank of Canada FI now owns 1,270,165 shares of the company’s stock valued at $45,916,000 after purchasing an additional 478,009 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Baker Hughes by 7.6% in the 2nd quarter. AQR Capital Management LLC now owns 6,424,915 shares of the company’s stock worth $223,523,000 after buying an additional 455,307 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Performance

Shares of NASDAQ:BKR opened at $43.26 on Monday. The firm’s 50 day simple moving average is $42.28 and its 200-day simple moving average is $38.00. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30. Baker Hughes has a one year low of $28.32 and a one year high of $45.17. The firm has a market cap of $42.81 billion, a PE ratio of 19.40, a price-to-earnings-growth ratio of 0.72 and a beta of 1.39.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.61 by $0.06. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The company had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.21 billion. During the same period last year, the business posted $0.42 EPS. Baker Hughes’s quarterly revenue was up 4.0% on a year-over-year basis. As a group, equities analysts predict that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were issued a $0.21 dividend. The ex-dividend date was Monday, November 4th. This represents a $0.84 annualized dividend and a dividend yield of 1.94%. Baker Hughes’s payout ratio is currently 37.67%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on BKR shares. Royal Bank of Canada upped their target price on shares of Baker Hughes from $43.00 to $49.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Susquehanna upped their price objective on Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a research report on Thursday, October 24th. Benchmark reiterated a “buy” rating and issued a $42.00 target price on shares of Baker Hughes in a report on Thursday, October 24th. Citigroup increased their price target on Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, Piper Sandler initiated coverage on shares of Baker Hughes in a research note on Thursday, December 19th. They set an “overweight” rating and a $53.00 price objective for the company. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $47.18.

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.