Park Avenue Securities LLC Buys 5,192 Shares of Baker Hughes (NASDAQ:BKR)

Park Avenue Securities LLC grew its position in shares of Baker Hughes (NASDAQ:BKR) by 22.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,149 shares of the company’s stock after acquiring an additional 5,192 shares during the quarter. Park Avenue Securities LLC’s holdings in Baker Hughes were worth $1,237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of BKR. JFS Wealth Advisors LLC lifted its holdings in Baker Hughes by 135.9% during 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 shares of Baker Hughes during the 4th quarter valued at $30,000. Larson Financial Group LLC raised its stake in shares of 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 purchasing an additional 216 shares during the period. Kestra Investment Management LLC purchased a new position in shares of Baker Hughes in the 4th quarter worth about $45,000. Finally, OFI Invest Asset Management purchased a new position in shares of Baker Hughes in the 4th quarter worth about $47,000. 92.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BKR has been the subject of a number of research analyst reports. Susquehanna decreased their price objective on shares of Baker Hughes from $48.00 to $46.00 and set a “positive” rating for the company in a report on Thursday, April 24th. Morgan Stanley decreased their price target on shares of Baker Hughes from $55.00 to $45.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. TD Securities dropped their price objective on Baker Hughes from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Citigroup reduced their price objective on Baker Hughes from $54.00 to $53.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Finally, Barclays lowered their target price on Baker Hughes from $54.00 to $48.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, Baker Hughes has an average rating of “Moderate Buy” and a consensus target price of $49.11.

Baker Hughes Trading Down 0.1%

Shares of Baker Hughes stock opened at $39.03 on Thursday. The company’s 50-day moving average price is $37.21 and its 200-day moving average price is $41.46. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. Baker Hughes has a 12-month low of $30.93 and a 12-month high of $49.40. The company has a market cap of $38.67 billion, a price-to-earnings ratio of 13.10, a PEG ratio of 2.00 and a beta of 0.91.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.03. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. The business had revenue of $6.43 billion for the quarter, compared to analysts’ expectations of $6.54 billion. On average, equities analysts expect that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th were issued a $0.23 dividend. The ex-dividend date was Tuesday, May 6th. This represents a $0.92 annualized dividend and a dividend yield of 2.36%. Baker Hughes’s payout ratio is currently 31.40%.

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.