Prospera Financial Services Inc Has $40,000 Stock Holdings in Baker Hughes (NASDAQ:BKR)

Prospera Financial Services Inc lessened its position in Baker Hughes (NASDAQ:BKRGet Rating) by 28.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,378 shares of the company’s stock after selling 536 shares during the period. Prospera Financial Services Inc’s holdings in Baker Hughes were worth $40,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Shell Asset Management Co. raised its holdings in shares of Baker Hughes by 1.5% in the first quarter. Shell Asset Management Co. now owns 22,464 shares of the company’s stock valued at $818,000 after buying an additional 328 shares during the last quarter. Benjamin Edwards Inc. raised its holdings in shares of Baker Hughes by 36.2% in the first quarter. Benjamin Edwards Inc. now owns 1,464 shares of the company’s stock valued at $53,000 after buying an additional 389 shares during the last quarter. Orion Portfolio Solutions LLC raised its holdings in shares of Baker Hughes by 5.8% in the second quarter. Orion Portfolio Solutions LLC now owns 7,159 shares of the company’s stock valued at $207,000 after buying an additional 390 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Baker Hughes by 7.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 6,200 shares of the company’s stock valued at $179,000 after buying an additional 443 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS raised its holdings in shares of Baker Hughes by 0.4% in the second quarter. Kornitzer Capital Management Inc. KS now owns 105,495 shares of the company’s stock valued at $3,046,000 after buying an additional 447 shares during the last quarter. Institutional investors and hedge funds own 96.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on BKR shares. Susquehanna Bancshares dropped their price objective on Baker Hughes from $39.00 to $35.00 and set a “positive” rating for the company in a report on Thursday, July 21st. Jefferies Financial Group started coverage on Baker Hughes in a report on Wednesday, October 19th. They set a “buy” rating and a $35.00 price objective for the company. Royal Bank of Canada dropped their price objective on Baker Hughes from $35.00 to $33.00 and set an “outperform” rating for the company in a report on Thursday, October 20th. Morgan Stanley boosted their price objective on Baker Hughes from $31.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, October 20th. Finally, Bank of America boosted their price objective on Baker Hughes from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, October 20th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, Baker Hughes presently has a consensus rating of “Moderate Buy” and an average target price of $34.73.

Baker Hughes Price Performance

Shares of BKR opened at $30.23 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.08 and a current ratio of 1.51. The stock has a 50 day simple moving average of $25.33 and a 200 day simple moving average of $27.96. Baker Hughes has a 52-week low of $20.42 and a 52-week high of $39.78. The firm has a market capitalization of $30.49 billion, a PE ratio of -65.72 and a beta of 1.52.

Baker Hughes (NASDAQ:BKRGet Rating) last issued its quarterly earnings data on Wednesday, October 19th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.02. Baker Hughes had a positive return on equity of 4.77% and a negative net margin of 2.36%. The business had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.43 billion. During the same period in the previous year, the firm earned $0.16 EPS. Baker Hughes’s quarterly revenue was up 5.3% compared to the same quarter last year. Sell-side analysts predict that Baker Hughes will post 0.86 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 18th. Shareholders of record on Monday, November 7th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, November 4th. This represents a $0.76 dividend on an annualized basis and a yield of 2.51%. This is an increase from Baker Hughes’s previous quarterly dividend of $0.18. Baker Hughes’s dividend payout ratio is -165.22%.

Insiders Place Their Bets

In other Baker Hughes news, EVP Rami Qasem sold 72,000 shares of the company’s stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $31.21, for a total transaction of $2,247,120.00. Following the completion of the transaction, the executive vice president now owns 32,523 shares of the company’s stock, valued at approximately $1,015,042.83. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Neil Saunders sold 118,492 shares of the stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $30.64, for a total value of $3,630,594.88. Following the completion of the sale, the executive vice president now owns 54,417 shares of the company’s stock, valued at approximately $1,667,336.88. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Rami Qasem sold 72,000 shares of the stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $31.21, for a total value of $2,247,120.00. Following the completion of the sale, the executive vice president now directly owns 32,523 shares of the company’s stock, valued at approximately $1,015,042.83. The disclosure for this sale can be found here. Insiders sold a total of 275,492 shares of company stock valued at $8,532,265 in the last quarter. 0.34% of the stock is currently owned by insiders.

Baker Hughes Profile

(Get Rating)

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. It operates through four segments: Oilfield Services (OFS), Oilfield Equipment (OFE), Turbomachinery & Process Solutions (TPS), and Digital Solutions (DS). The OFS segment offers exploration, drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, wireline services, downhole completion tools and systems, wellbore intervention tools and services, pressure pumping systems, oilfield and industrial chemicals, and artificial lift technologies for oil and natural gas, and oilfield service companies.

See Also

Institutional Ownership by Quarter for Baker Hughes (NASDAQ:BKR)

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