Proficio Capital Partners LLC Invests $4.41 Million in Baker Hughes (NASDAQ:BKR)

Proficio Capital Partners LLC bought a new stake in shares of Baker Hughes (NASDAQ:BKR) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 107,520 shares of the company’s stock, valued at approximately $4,410,000.

Several other large investors have also recently made changes to their positions in BKR. JFS Wealth Advisors LLC raised its holdings in Baker Hughes by 135.9% in the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock worth $27,000 after purchasing an additional 386 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Baker Hughes in the fourth quarter valued at approximately $30,000. True Wealth Design LLC raised its stake in shares of Baker Hughes by 2,181.6% during 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. Groupama Asset Managment lifted its position in shares of Baker Hughes by 1,045.1% during the 3rd quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock valued at $32,000 after buying an additional 811,711 shares in the last quarter. Finally, Continuum Advisory LLC increased 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 acquiring an additional 796 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Baker Hughes Price Performance

BKR stock opened at $43.88 on Tuesday. Baker Hughes has a 52-week low of $30.93 and a 52-week high of $49.40. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The stock has a market cap of $43.45 billion, a price-to-earnings ratio of 14.72, a price-to-earnings-growth ratio of 2.00 and a beta of 1.30. The business has a fifty day moving average of $44.90 and a two-hundred day moving average of $41.15.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. As a group, research analysts anticipate that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.10%. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Tuesday, February 11th. Baker Hughes’s dividend payout ratio is 30.87%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Atb Cap Markets downgraded shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. raised their price target on shares of Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Barclays boosted their price objective on Baker Hughes from $51.00 to $55.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Jefferies Financial Group raised 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, Benchmark reiterated a “buy” rating and set a $57.00 price target on shares of Baker Hughes in a research report on Tuesday, February 11th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy 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 $51.06.

Insider Transactions at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction that occurred on 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 transaction, the executive vice president now owns 173,302 shares in the company, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.25% of the company’s stock.

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.