Dynasty Wealth Management LLC Purchases Shares of 7,007 Baker Hughes (NASDAQ:BKR)

Dynasty Wealth Management LLC purchased a new stake in shares of Baker Hughes (NASDAQ:BKR) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 7,007 shares of the company’s stock, valued at approximately $235,000.

Other institutional investors have also added to or reduced their stakes in the company. Spire Wealth Management raised its holdings in Baker Hughes by 256.7% in the 1st quarter. Spire Wealth Management now owns 767 shares of the company’s stock worth $26,000 after purchasing an additional 552 shares in the last quarter. Redmont Wealth Advisors LLC bought a new position in shares of Baker Hughes in the 1st quarter worth about $27,000. Montag A & Associates Inc. increased its stake in shares of Baker Hughes by 100.0% in the 4th quarter. Montag A & Associates Inc. now owns 1,000 shares of the company’s stock worth $34,000 after acquiring an additional 500 shares in the last quarter. UMB Bank n.a. increased its stake in shares of Baker Hughes by 281.2% in the 1st quarter. UMB Bank n.a. now owns 1,582 shares of the company’s stock worth $53,000 after acquiring an additional 1,167 shares in the last quarter. Finally, Rise Advisors LLC increased its stake in shares of Baker Hughes by 46.9% in the 1st quarter. Rise Advisors LLC now owns 1,667 shares of the company’s stock worth $56,000 after acquiring an additional 532 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Maria C. Borras sold 55,980 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $32.00, for a total transaction of $1,791,360.00. Following the completion of the sale, the executive vice president now directly owns 92,035 shares of the company’s stock, valued at $2,945,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BKR. Wells Fargo & Company raised their price objective on shares of Baker Hughes from $35.00 to $40.00 and gave the company an “equal weight” rating in a research note on Monday. Evercore ISI raised their price objective on shares of Baker Hughes from $42.00 to $46.00 and gave the company an “outperform” rating in a research note on Monday. UBS Group raised their price objective on shares of Baker Hughes from $35.00 to $36.00 in a research note on Tuesday, April 23rd. JPMorgan Chase & Co. raised their price target on shares of Baker Hughes from $42.00 to $43.00 and gave the company an “overweight” rating in a report on Monday. Finally, The Goldman Sachs Group raised their price target on shares of Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Baker Hughes currently has a consensus rating of “Moderate Buy” and an average target price of $43.00.

Baker Hughes Trading Up 1.3 %

Shares of BKR opened at $38.72 on Thursday. The company’s fifty day moving average is $33.98 and its 200 day moving average is $32.39. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $39.05. The stock has a market capitalization of $38.64 billion, a PE ratio of 21.63, a P/E/G ratio of 0.62 and a beta of 1.41. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.27.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.08. The company had revenue of $7.10 billion for the quarter, compared to analysts’ expectations of $6.81 billion. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. Baker Hughes’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.39 earnings per share. Sell-side analysts expect that Baker Hughes will post 2.19 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Tuesday, August 6th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.17%. The ex-dividend date is Tuesday, August 6th. Baker Hughes’s payout ratio is 46.93%.

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.