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

Ritholtz Wealth Management raised its stake in shares of Baker Hughes (NASDAQ:BKR) by 34.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 34,386 shares of the company’s stock after buying an additional 8,755 shares during the period. Ritholtz Wealth Management’s holdings in Baker Hughes were worth $1,411,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new stake in shares of Baker Hughes during the 3rd quarter valued at $30,000. True Wealth Design LLC boosted its holdings in Baker Hughes by 2,181.6% in the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company’s stock worth $31,000 after buying an additional 829 shares during the period. Continuum Advisory LLC boosted its holdings in Baker Hughes by 442.2% in the 3rd quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock worth $35,000 after buying an additional 796 shares during the period. Quarry LP boosted its holdings in Baker Hughes by 81.1% in the 2nd quarter. Quarry LP now owns 1,594 shares of the company’s stock worth $56,000 after buying an additional 714 shares during the period. Finally, Eastern Bank boosted its holdings in Baker Hughes by 598.4% in the 4th quarter. Eastern Bank now owns 1,739 shares of the company’s stock worth $71,000 after buying an additional 1,490 shares during the period. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Up 0.5 %

Shares of NASDAQ BKR opened at $46.54 on Friday. The firm’s 50-day moving average price is $42.74 and its 200-day moving average price is $38.33. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $46.05 billion, a price-to-earnings ratio of 20.87, a P/E/G ratio of 0.79 and a beta of 1.39. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $47.47.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data 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. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The company had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.21 billion. During the same period in the prior year, the company posted $0.42 EPS. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, equities research analysts anticipate that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is currently 37.67%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Barclays upped their target price on shares of Baker Hughes from $46.00 to $52.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Susquehanna upped their target price on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a “positive” rating in a report on Thursday, October 24th. Stifel Nicolaus upped their target price on shares of Baker Hughes from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Royal Bank of Canada boosted their price target on shares of Baker Hughes from $43.00 to $49.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Finally, Wells Fargo & Company boosted their price target on shares of Baker Hughes from $42.00 to $49.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, Baker Hughes presently has an average rating of “Moderate Buy” and a consensus price target of $47.53.

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.