Raymond James Financial Services Advisors Inc. Lowers Stock Position in Baker Hughes (NASDAQ:BKR)

Raymond James Financial Services Advisors Inc. reduced its stake in Baker Hughes (NASDAQ:BKR) by 5.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,315 shares of the company’s stock after selling 2,521 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Baker Hughes were worth $1,446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of BKR. Jefferies Financial Group Inc. purchased a new stake in Baker Hughes in the fourth quarter valued at approximately $27,000. Hall Laurie J Trustee purchased a new position in shares of Baker Hughes during the third quarter worth approximately $28,000. Bruce G. Allen Investments LLC purchased a new position in shares of Baker Hughes during the fourth quarter worth approximately $33,000. OFI Invest Asset Management purchased a new position in shares of Baker Hughes during the third quarter worth approximately $36,000. Finally, Quarry LP raised its stake in shares of Baker Hughes by 41.3% during the second quarter. Quarry LP now owns 1,132 shares of the company’s stock worth $36,000 after acquiring an additional 331 shares in the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Baker Hughes

In related news, SVP James E. Apostolides sold 5,000 shares of Baker Hughes stock in a transaction on Friday, April 5th. The shares were sold at an average price of $33.88, for a total value of $169,400.00. Following the sale, the senior vice president now owns 14,998 shares in the company, valued at $508,132.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, SVP James E. Apostolides sold 10,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total transaction of $294,400.00. Following the sale, the senior vice president now owns 14,451 shares in the company, valued at approximately $425,437.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP James E. Apostolides sold 5,000 shares of the business’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $33.88, for a total transaction of $169,400.00. Following the sale, the senior vice president now owns 14,998 shares in the company, valued at approximately $508,132.24. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

BKR has been the topic of several research reports. TD Cowen lifted their price target on shares of Baker Hughes from $46.00 to $49.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Wolfe Research downgraded shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 29th. Royal Bank of Canada reissued an “outperform” rating and set a $39.00 price target on shares of Baker Hughes in a research note on Thursday, February 1st. Susquehanna reissued a “positive” rating and set a $40.00 price target on shares of Baker Hughes in a research note on Monday, April 8th. Finally, Citigroup cut their target price on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, January 26th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Baker Hughes currently has an average rating of “Moderate Buy” and an average target price of $40.87.

Baker Hughes Stock Performance

NASDAQ:BKR opened at $33.05 on Friday. The stock has a market cap of $33.08 billion, a P/E ratio of 17.30, a price-to-earnings-growth ratio of 0.71 and a beta of 1.42. The firm’s fifty day simple moving average is $31.36 and its 200 day simple moving average is $32.70. Baker Hughes has a twelve month low of $26.81 and a twelve month high of $37.58. The company has a quick ratio of 0.86, a current ratio of 1.25 and a debt-to-equity ratio of 0.38.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Wednesday, January 24th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.04. The business had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $6.93 billion. Baker Hughes had a net margin of 7.62% and a return on equity of 10.63%. The firm’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.38 earnings per share. As a group, research analysts predict that Baker Hughes will post 2.07 EPS for the current year.

Baker Hughes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Tuesday, February 13th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, February 12th. This represents a $0.84 annualized dividend and a yield of 2.54%. This is a boost from Baker Hughes’s previous quarterly dividend of $0.20. Baker Hughes’s payout ratio is 43.98%.

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.