Baker Hughes (NASDAQ:BKR) Shares Acquired by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC lifted its stake in Baker Hughes (NASDAQ:BKR) by 15.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 91,830 shares of the company’s stock after purchasing an additional 12,290 shares during the period. Pallas Capital Advisors LLC’s holdings in Baker Hughes were worth $4,036,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Bleakley Financial Group LLC increased its holdings in Baker Hughes by 1.8% in the fourth quarter. Bleakley Financial Group LLC now owns 20,984 shares of the company’s stock valued at $861,000 after buying an additional 380 shares during the last quarter. Strategic Financial Concepts LLC purchased a new position in shares of Baker Hughes in the 4th quarter valued at about $640,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Baker Hughes by 2.5% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 110,092 shares of the company’s stock worth $4,516,000 after acquiring an additional 2,685 shares in the last quarter. Apollon Wealth Management LLC boosted its holdings in Baker Hughes by 13.5% in the fourth quarter. Apollon Wealth Management LLC now owns 27,058 shares of the company’s stock valued at $1,110,000 after purchasing an additional 3,227 shares in the last quarter. Finally, Empirical Finance LLC increased its stake in Baker Hughes by 44.9% in the fourth quarter. Empirical Finance LLC now owns 44,982 shares of the company’s stock valued at $1,845,000 after purchasing an additional 13,933 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Trading Up 2.0%

NASDAQ BKR opened at $37.90 on Monday. The stock has a market capitalization of $37.55 billion, a P/E ratio of 12.72, a P/E/G ratio of 2.00 and a beta of 0.91. Baker Hughes has a 52-week low of $30.93 and a 52-week high of $49.40. The firm has a 50-day moving average price of $37.30 and a 200 day moving average price of $41.53. 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 (NASDAQ:BKR) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. The firm had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.54 billion. Equities research analysts expect that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th were issued a $0.23 dividend. The ex-dividend date was Tuesday, May 6th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.43%. Baker Hughes’s dividend payout ratio is presently 31.40%.

Analyst Ratings Changes

BKR has been the subject of several research analyst reports. TD Cowen lowered their target price on shares of Baker Hughes from $50.00 to $49.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Royal Bank of Canada decreased their price objective on shares of Baker Hughes from $50.00 to $46.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. Stifel Nicolaus set a $50.00 target price on Baker Hughes and gave the stock a “buy” rating in a research report on Thursday, April 24th. Morgan Stanley reduced their target price on Baker Hughes from $55.00 to $45.00 and set an “overweight” rating for the company in a report on Friday, May 16th. Finally, Citigroup dropped their price target on Baker Hughes from $54.00 to $53.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Two investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.11.

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.