Bar Harbor Wealth Management Increases Holdings in Baker Hughes (NASDAQ:BKR)

Bar Harbor Wealth Management grew its position in shares of Baker Hughes (NASDAQ:BKR) by 18.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 224,681 shares of the company’s stock after purchasing an additional 34,663 shares during the period. Bar Harbor Wealth Management’s holdings in Baker Hughes were worth $9,216,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in Baker Hughes in the third quarter valued at $30,000. True Wealth Design LLC lifted its position in shares of Baker Hughes by 2,181.6% during the third quarter. True Wealth Design LLC now owns 867 shares of the company’s stock worth $31,000 after purchasing an additional 829 shares during the last quarter. Groupama Asset Managment grew its stake in Baker Hughes by 1,045.1% in the third quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock worth $32,000 after purchasing an additional 811,711 shares in the last quarter. Continuum Advisory LLC increased its holdings in Baker Hughes by 442.2% in the third quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock valued at $35,000 after buying an additional 796 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Baker Hughes during the second quarter valued at approximately $48,000. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Baker Hughes Stock Up 4.0 %

Shares of NASDAQ BKR traded up $1.74 during mid-day trading on Monday, reaching $45.00. The company had a trading volume of 5,037,912 shares, compared to its average volume of 5,722,828. The stock has a fifty day moving average of $42.28 and a two-hundred day moving average of $38.00. The company has a market capitalization of $44.53 billion, a price-to-earnings ratio of 20.18, a PEG ratio of 0.72 and a beta of 1.39. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $45.17. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. The company had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.21 billion. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period last year, the business earned $0.42 EPS. As a group, equities research analysts expect that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, November 4th. This represents a $0.84 annualized dividend and a yield of 1.87%. Baker Hughes’s payout ratio is 37.67%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BKR. Piper Sandler assumed coverage on shares of Baker Hughes in a research note on Thursday, December 19th. They set an “overweight” rating and a $53.00 target price for the company. Atb Cap Markets downgraded Baker Hughes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Susquehanna increased their target price on Baker Hughes from $46.00 to $48.00 and gave the stock a “positive” rating in a research report on Thursday, October 24th. Jefferies Financial Group increased their price objective on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, UBS Group reduced their price objective on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, Baker Hughes has a consensus rating of “Moderate Buy” and an average target price of $47.18.

Baker Hughes Company Profile

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.