Adams Natural Resources Fund Inc. Acquires 29,300 Shares of Baker Hughes (NASDAQ:BKR)

Adams Natural Resources Fund Inc. increased its holdings in shares of Baker Hughes (NASDAQ:BKR) by 7.3% in the 4th quarter, HoldingsChannel reports. The firm owned 428,100 shares of the company’s stock after acquiring an additional 29,300 shares during the quarter. Baker Hughes makes up approximately 2.8% of Adams Natural Resources Fund Inc.’s holdings, making the stock its 9th largest holding. Adams Natural Resources Fund Inc.’s holdings in Baker Hughes were worth $17,561,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BKR. JFS Wealth Advisors LLC grew its stake in shares of Baker Hughes by 135.9% during the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock worth $27,000 after purchasing an additional 386 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Baker Hughes during the fourth quarter valued at $30,000. Larson Financial Group LLC increased its holdings in Baker Hughes by 41.2% in the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock valued at $30,000 after buying an additional 216 shares in the last quarter. True Wealth Design LLC raised its position in shares of Baker Hughes by 2,181.6% in the third quarter. True Wealth Design LLC now owns 867 shares of the company’s stock worth $31,000 after acquiring an additional 829 shares during the period. Finally, Groupama Asset Managment boosted its stake in shares of Baker Hughes by 1,045.1% during the 3rd quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock worth $32,000 after acquiring an additional 811,711 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Baker Hughes Stock Performance

NASDAQ BKR opened at $44.11 on Friday. The company has a fifty day moving average of $44.97 and a two-hundred day moving average of $41.32. The company has a market capitalization of $43.67 billion, a PE ratio of 14.80, a P/E/G ratio of 2.00 and a beta of 1.30. Baker Hughes has a 1 year low of $30.93 and a 1 year high of $49.40. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. As a group, analysts expect that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were given a dividend of $0.23 per share. The ex-dividend date was Tuesday, February 11th. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.09%. Baker Hughes’s dividend payout ratio (DPR) is 30.87%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Stifel Nicolaus lifted their price target on Baker Hughes from $48.00 to $54.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Wells Fargo & Company boosted their target price on Baker Hughes from $49.00 to $54.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Evercore ISI increased their price objective on Baker Hughes from $46.00 to $52.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 15th. Benchmark restated a “buy” rating and issued a $57.00 price objective on shares of Baker Hughes in a report on Tuesday, February 11th. Finally, Jefferies Financial Group increased their target price on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, Baker Hughes has an average rating of “Moderate Buy” and an average target price of $51.06.

Insider Activity

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the firm’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $44.77, for a total transaction of $358,160.00. Following the transaction, the executive vice president now directly owns 173,302 shares of the company’s stock, valued at approximately $7,758,730.54. This trade represents a 4.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.25% of the company’s stock.

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.