CIBC Private Wealth Group LLC Acquires 1,944 Shares of Baker Hughes (NASDAQ:BKR)

CIBC Private Wealth Group LLC increased its holdings in shares of Baker Hughes (NASDAQ:BKRFree Report) by 7.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,181 shares of the company’s stock after acquiring an additional 1,944 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Baker Hughes were worth $929,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of BKR. J.P. Morgan Private Wealth Advisors LLC bought a new position in Baker Hughes during the third quarter worth about $1,291,000. Atria Wealth Solutions Inc. increased its position in Baker Hughes by 54.1% during the third quarter. Atria Wealth Solutions Inc. now owns 18,168 shares of the company’s stock worth $642,000 after acquiring an additional 6,377 shares during the period. Sequoia Financial Advisors LLC bought a new position in Baker Hughes during the third quarter worth about $201,000. Pathstone Family Office LLC increased its position in Baker Hughes by 194.5% during the third quarter. Pathstone Family Office LLC now owns 24,628 shares of the company’s stock worth $870,000 after acquiring an additional 16,264 shares during the period. Finally, HighTower Advisors LLC increased its position in Baker Hughes by 344.9% during the third quarter. HighTower Advisors LLC now owns 556,230 shares of the company’s stock worth $19,668,000 after acquiring an additional 431,211 shares during the period. 92.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. UBS Group increased their price objective on shares of Baker Hughes from $35.00 to $36.00 in a research note on Tuesday, April 23rd. The Goldman Sachs Group increased their price objective on shares of Baker Hughes from $36.00 to $38.00 in a research note on Tuesday, April 23rd. Morgan Stanley increased their price objective on shares of Baker Hughes from $40.00 to $43.00 in a research note on Tuesday, April 23rd. Susquehanna reiterated a “positive” rating and set a $40.00 price objective on shares of Baker Hughes in a research note on Monday, April 8th. Finally, Benchmark reiterated a “buy” rating and set a $40.00 price objective on shares of Baker Hughes in a research note on Wednesday, April 24th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Baker Hughes presently has an average rating of “Moderate Buy” and a consensus target price of $41.13.

Get Our Latest Analysis on Baker Hughes

Baker Hughes Stock Down 0.3 %

Shares of NASDAQ BKR opened at $31.64 on Monday. The company has a 50 day simple moving average of $32.71 and a 200 day simple moving average of $32.04. The firm has a market cap of $31.58 billion, a PE ratio of 17.68, a price-to-earnings-growth ratio of 0.54 and a beta of 1.43. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $37.58. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.25 and a quick ratio of 0.84.

Baker Hughes (NASDAQ:BKRGet Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. The business had revenue of $6.42 billion during the quarter, compared to analyst estimates of $6.37 billion. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter last year, the business earned $0.28 EPS. On average, research analysts forecast that Baker Hughes will post 2.08 EPS for the current year.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 6th were issued a $0.21 dividend. The ex-dividend date was Friday, May 3rd. This represents a $0.84 dividend on an annualized basis and a yield of 2.65%. Baker Hughes’s dividend payout ratio (DPR) is presently 46.93%.

Insider Activity at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 55,980 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $32.00, for a total transaction of $1,791,360.00. Following the completion of the transaction, the executive vice president now owns 92,035 shares in the company, valued at approximately $2,945,120. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Baker Hughes news, SVP James E. Apostolides sold 5,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 14,998 shares in the company, valued at approximately $508,132.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Maria C. Borras sold 55,980 shares of Baker Hughes stock in a transaction on Friday, May 24th. The shares were sold at an average price of $32.00, for a total transaction of $1,791,360.00. Following the completion of the sale, the executive vice president now owns 92,035 shares of the company’s stock, valued at approximately $2,945,120. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

Baker Hughes Company Profile

(Free Report)

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.

Further Reading

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

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