Prospera Financial Services Inc Has $521,000 Stake in Baker Hughes Company $BKR

Prospera Financial Services Inc grew its position in Baker Hughes Company (NASDAQ:BKR) by 30.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,598 shares of the company’s stock after purchasing an additional 3,186 shares during the quarter. Prospera Financial Services Inc’s holdings in Baker Hughes were worth $521,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of BKR. Forum Financial Management LP grew its holdings in Baker Hughes by 1.4% during the 2nd quarter. Forum Financial Management LP now owns 17,255 shares of the company’s stock worth $662,000 after acquiring an additional 233 shares during the period. Prosperity Consulting Group LLC boosted its position in shares of Baker Hughes by 2.7% during the 1st quarter. Prosperity Consulting Group LLC now owns 10,533 shares of the company’s stock valued at $463,000 after purchasing an additional 278 shares in the last quarter. V Square Quantitative Management LLC grew its stake in Baker Hughes by 1.4% during the second quarter. V Square Quantitative Management LLC now owns 21,758 shares of the company’s stock worth $834,000 after purchasing an additional 292 shares during the period. Moody National Bank Trust Division grew its stake in Baker Hughes by 5.9% during the second quarter. Moody National Bank Trust Division now owns 5,351 shares of the company’s stock worth $205,000 after purchasing an additional 296 shares during the period. Finally, City Center Advisors LLC increased its holdings in Baker Hughes by 3.6% in the second quarter. City Center Advisors LLC now owns 8,486 shares of the company’s stock worth $325,000 after purchasing an additional 298 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Sreeganesh Ramaswamy sold 25,000 shares of the stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total transaction of $1,250,000.00. Following the completion of the transaction, the executive vice president owned 40,520 shares in the company, valued at approximately $2,026,000. This represents a 38.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Rebecca L. Charlton sold 1,000 shares of Baker Hughes stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total transaction of $50,000.00. Following the completion of the sale, the chief accounting officer directly owned 11,772 shares in the company, valued at approximately $588,600. This represents a 7.83% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.27% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Piper Sandler raised their price objective on shares of Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Zephirin Group increased their price target on Baker Hughes from $37.00 to $40.00 and gave the stock a “hold” rating in a report on Thursday, October 2nd. HSBC lifted their price objective on shares of Baker Hughes from $54.00 to $56.00 and gave the company a “buy” rating in a report on Monday, October 27th. Seaport Res Ptn lowered shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 29th. Finally, BMO Capital Markets lifted their price target on Baker Hughes from $53.00 to $55.00 in a research note on Tuesday. Twenty-three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $53.38.

Baker Hughes Stock Up 2.6%

Baker Hughes stock opened at $48.73 on Friday. Baker Hughes Company has a fifty-two week low of $33.60 and a fifty-two week high of $50.92. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41. The firm’s 50-day simple moving average is $47.51 and its 200 day simple moving average is $42.80. The stock has a market cap of $48.09 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 2.06 and a beta of 1.03.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Friday, November 18th. The company reported $0.16 EPS for the quarter. The firm had revenue of $5.09 billion for the quarter. Baker Hughes had a net margin of 10.43% and a return on equity of 14.22%. Research analysts predict that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Tuesday, November 4th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Tuesday, November 4th. Baker Hughes’s dividend payout ratio is 31.72%.

Baker Hughes 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.