Proficio Capital Partners LLC Buys New Holdings in Baker Hughes (NASDAQ:BKR)

Proficio Capital Partners LLC purchased a new position in shares of Baker Hughes (NASDAQ:BKR) in the 4th quarter, Holdings Channel reports. The firm purchased 107,520 shares of the company’s stock, valued at approximately $4,410,000.

A number of other large investors also recently modified their holdings of BKR. JFS Wealth Advisors LLC increased its holdings in shares of Baker Hughes by 135.9% in the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock valued at $27,000 after acquiring an additional 386 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Baker Hughes during the fourth quarter worth approximately $30,000. True Wealth Design LLC boosted its holdings in Baker Hughes by 2,181.6% in the third quarter. True Wealth Design LLC now owns 867 shares of the company’s stock valued at $31,000 after purchasing an additional 829 shares in the last quarter. Groupama Asset Managment increased 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 valued at $32,000 after purchasing an additional 811,711 shares during the last quarter. Finally, Continuum Advisory LLC raised its holdings in Baker Hughes by 442.2% during the third quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock worth $35,000 after purchasing an additional 796 shares in the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Maria C. Borras sold 8,000 shares of the firm’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the sale, the executive vice president now owns 173,302 shares in the company, valued at $7,758,730.54. This trade represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.25% of the stock is currently owned by corporate insiders.

Baker Hughes Stock Up 2.4 %

Shares of Baker Hughes stock opened at $43.88 on Tuesday. Baker Hughes has a one year low of $30.93 and a one year high of $49.40. The company has a market cap of $43.45 billion, a P/E ratio of 14.72, a PEG ratio of 2.00 and a beta of 1.30. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. The firm has a fifty day moving average of $44.90 and a two-hundred day moving average of $41.15.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. On average, analysts forecast that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were paid a $0.23 dividend. The ex-dividend date was Tuesday, February 11th. This is an increase 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 2.10%. Baker Hughes’s payout ratio is 30.87%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on BKR shares. Piper Sandler upped their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Evercore ISI upped their price objective on shares of Baker Hughes from $46.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday, January 15th. Wells Fargo & Company lifted their target price on Baker Hughes from $49.00 to $54.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Jefferies Financial Group upped their target price on Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Finally, Stifel Nicolaus raised their price target on Baker Hughes from $48.00 to $54.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $51.06.

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.