Sovereign Investment Advisors LLC Invests $314,000 in Baker Hughes (NASDAQ:BKR)

Sovereign Investment Advisors LLC purchased a new stake in Baker Hughes (NASDAQ:BKR) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 7,647 shares of the company’s stock, valued at approximately $314,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BKR. Raymond James Financial Inc. acquired a new stake in shares of Baker Hughes in the fourth quarter valued at approximately $291,289,000. Hotchkis & Wiley Capital Management LLC raised its position in shares of Baker Hughes by 34.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock valued at $394,775,000 after buying an additional 2,811,940 shares in the last quarter. Congress Asset Management Co. acquired a new position in Baker Hughes during the fourth quarter valued at approximately $107,155,000. Yaupon Capital Management LP acquired a new position in Baker Hughes during the third quarter valued at approximately $47,296,000. Finally, Natixis Advisors LLC raised its position in Baker Hughes by 217.5% during the fourth quarter. Natixis Advisors LLC now owns 1,728,450 shares of the company’s stock valued at $70,901,000 after purchasing an additional 1,184,036 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on the stock. Barclays boosted their price objective 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. Benchmark restated a “buy” rating and set a $57.00 price objective on shares of Baker Hughes in a research report on Tuesday, February 11th. Susquehanna boosted their price objective on shares of Baker Hughes from $53.00 to $55.00 and gave the company a “positive” rating in a research report on Monday, February 3rd. Piper Sandler boosted their price objective on shares of Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Stifel Nicolaus boosted their price objective on shares of Baker Hughes from $48.00 to $54.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Two equities 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 has a consensus rating of “Moderate Buy” and a consensus target price of $51.06.

Baker Hughes Stock Performance

Shares of Baker Hughes stock opened at $42.84 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. Baker Hughes has a twelve month low of $30.93 and a twelve month high of $49.40. The stock has a market cap of $42.42 billion, a price-to-earnings ratio of 14.38, a P/E/G ratio of 2.00 and a beta of 1.30. The company’s fifty day moving average is $44.88 and its 200 day moving average is $41.05.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. Sell-side analysts forecast that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a yield of 2.15%. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s dividend payout ratio is 30.87%.

Insider Buying and Selling at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of the 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 transaction, the executive vice president now owns 173,302 shares of the company’s stock, valued at $7,758,730.54. This represents a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.25% of the company’s stock.

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.