Prosperity Consulting Group LLC Acquires New Holdings in Baker Hughes (NASDAQ:BKR)

by · The Markets Daily

Prosperity Consulting Group LLC bought a new position in Baker Hughes (NASDAQ:BKR – Free Report) during the 4th quarter, Holdings Channel reports. The institutional investor bought 10,255 shares of the company’s stock, valued at approximately $421,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. JFS Wealth Advisors LLC grew its holdings in shares of Baker Hughes by 135.9% in the fourth quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock worth $27,000 after acquiring an additional 386 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Baker Hughes in the fourth quarter worth about $30,000. Larson Financial Group LLC raised its stake in Baker Hughes by 41.2% during the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock worth $30,000 after acquiring an additional 216 shares during the period. Kestra Investment Management LLC purchased a new position in shares of Baker Hughes during the 4th quarter valued at $45,000. Finally, OFI Invest Asset Management purchased a new position in shares of Baker Hughes in the fourth quarter valued at about $47,000. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Baker Hughes Price Performance

Shares of BKR stock opened at $36.45 on Monday. The stock has a 50 day moving average price of $41.39 and a 200 day moving average price of $42.10. The firm has a market capitalization of $36.09 billion, a P/E ratio of 12.23, a P/E/G ratio of 2.00 and a beta of 1.08. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. Baker Hughes has a 52-week low of $30.93 and a 52-week high of $49.40.

Baker Hughes (NASDAQ:BKR – Get Free Report) last issued its earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. The firm had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.54 billion. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. As a group, sell-side analysts predict that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend is Tuesday, May 6th. Baker Hughes’s dividend payout ratio (DPR) is presently 31.40%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on BKR shares. Barclays cut their target price on shares of Baker Hughes from $54.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday. JPMorgan Chase & Co. lifted their price objective on Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Piper Sandler lowered their target price on Baker Hughes from $53.00 to $50.00 and set an “overweight” rating for the company in a research report on Thursday. Stifel Nicolaus set a $50.00 price target on shares of Baker Hughes and gave the stock a “buy” rating in a research report on Thursday. Finally, TD Securities dropped their price objective on shares of Baker Hughes from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, Baker Hughes has an average rating of “Moderate Buy” and a consensus price target of $49.11.

View Our Latest Report on BKR

About Baker Hughes

(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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