Synergy Asset Management LLC Sells 13,057 Shares of Baker Hughes Company $BKR

Synergy Asset Management LLC trimmed its holdings in Baker Hughes Company (NASDAQ:BKR) by 33.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 26,351 shares of the company’s stock after selling 13,057 shares during the period. Synergy Asset Management LLC’s holdings in Baker Hughes were worth $1,200,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Activest Wealth Management raised its stake in Baker Hughes by 1,242.5% during the 3rd quarter. Activest Wealth Management now owns 537 shares of the company’s stock valued at $26,000 after purchasing an additional 497 shares during the period. E Fund Management Hong Kong Co. Ltd. boosted its stake in Baker Hughes by 104.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock worth $32,000 after purchasing an additional 337 shares during the period. Twin Peaks Wealth Advisors LLC bought a new position in Baker Hughes in the 2nd quarter worth approximately $36,000. Spire Wealth Management grew its holdings in Baker Hughes by 357.8% during the 3rd quarter. Spire Wealth Management now owns 1,021 shares of the company’s stock valued at $50,000 after buying an additional 798 shares in the last quarter. Finally, N.E.W. Advisory Services LLC raised its position in shares of Baker Hughes by 60.6% during the third quarter. N.E.W. Advisory Services LLC now owns 1,102 shares of the company’s stock valued at $54,000 after buying an additional 416 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Trading Down 0.4%

Shares of BKR opened at $62.36 on Friday. The stock has a market capitalization of $61.63 billion, a PE ratio of 23.98, a P/E/G ratio of 1.69 and a beta of 0.83. The company’s fifty day moving average is $59.22 and its 200 day moving average is $51.68. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.00 and a current ratio of 1.36. Baker Hughes Company has a fifty-two week low of $33.60 and a fifty-two week high of $67.00.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Monday, January 26th. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.11. The business had revenue of $7.39 billion during the quarter, compared to analysts’ expectations of $7.09 billion. Baker Hughes had a net margin of 9.33% and a return on equity of 14.26%. The business’s revenue was up .3% on a year-over-year basis. During the same period last year, the company posted $0.70 EPS. Sell-side analysts expect that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Tuesday, February 17th were given a $0.23 dividend. The ex-dividend date was Tuesday, February 17th. This represents a $0.92 dividend on an annualized basis and a yield of 1.5%. Baker Hughes’s dividend payout ratio (DPR) is currently 35.38%.

Insider Activity

In related news, insider Maria Georgia Magno sold 19,150 shares of Baker Hughes stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $59.11, for a total transaction of $1,131,956.50. Following the completion of the transaction, the insider directly owned 14,588 shares of the company’s stock, valued at approximately $862,296.68. The trade was a 56.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Rebecca L. Charlton sold 1,985 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $55.77, for a total transaction of $110,703.45. Following the transaction, the chief accounting officer owned 12,052 shares in the company, valued at $672,140.04. The trade was a 14.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 590,251 shares of company stock valued at $35,311,023 over the last ninety days. 0.27% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BKR. Capital One Financial boosted their target price on shares of Baker Hughes from $53.00 to $59.00 and gave the stock an “overweight” rating in a report on Tuesday, January 27th. TD Cowen lifted their price target on shares of Baker Hughes from $55.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, January 27th. Argus boosted their price target on shares of Baker Hughes from $55.00 to $67.00 in a research note on Tuesday, January 27th. Evercore reissued an “outperform” rating and set a $68.00 price objective on shares of Baker Hughes in a report on Wednesday, February 11th. Finally, Susquehanna raised their price objective on Baker Hughes from $58.00 to $65.00 and gave the company a “positive” rating in a research report on Tuesday, January 27th. Twenty equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $59.61.

About Baker Hughes

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm’s roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE’s oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.