First Hawaiian Bank Grows Stock Position in Baker Hughes (NASDAQ:BKR)

First Hawaiian Bank boosted its stake in shares of Baker Hughes (NASDAQ:BKR) by 7.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 94,163 shares of the company’s stock after acquiring an additional 6,891 shares during the quarter. First Hawaiian Bank’s holdings in Baker Hughes were worth $3,863,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of BKR. Bridges Investment Management Inc. increased its position in shares of Baker Hughes by 3.1% during the third quarter. Bridges Investment Management Inc. now owns 9,203 shares of the company’s stock valued at $333,000 after buying an additional 273 shares during the period. Graypoint LLC boosted its position in Baker Hughes by 3.0% during the 3rd quarter. Graypoint LLC now owns 10,288 shares of the company’s stock valued at $372,000 after acquiring an additional 301 shares in the last quarter. First Trust Direct Indexing L.P. grew its holdings in shares of Baker Hughes by 1.4% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 29,841 shares of the company’s stock worth $1,079,000 after acquiring an additional 398 shares during the period. Hantz Financial Services Inc. raised its position in shares of Baker Hughes by 4.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 9,027 shares of the company’s stock worth $326,000 after acquiring an additional 401 shares in the last quarter. Finally, Brooklyn Investment Group lifted its stake in shares of Baker Hughes by 7.8% in the 3rd quarter. Brooklyn Investment Group now owns 6,756 shares of the company’s stock valued at $244,000 after purchasing an additional 490 shares during the period. 92.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BKR shares. Piper Sandler initiated coverage on Baker Hughes in a report on Thursday, December 19th. They issued an “overweight” rating and a $53.00 price objective for the company. TD Cowen lowered their price target on shares of Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday. Susquehanna upped their price objective 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. Argus upgraded shares of Baker Hughes from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Finally, Bank of America boosted their price target on Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.18.

Baker Hughes Stock Performance

BKR traded up $0.04 during mid-day trading on Wednesday, reaching $43.44. 4,992,356 shares of the company traded hands, compared to its average volume of 5,700,128. The company’s fifty day moving average price is $41.94 and its 200-day moving average price is $37.81. The stock has a market capitalization of $42.99 billion, a P/E ratio of 19.48, a P/E/G ratio of 0.72 and a beta of 1.39. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $45.17.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. The company had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.21 billion. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. Baker Hughes’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.42 earnings per share. On average, sell-side analysts expect that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.84 annualized dividend and a yield of 1.93%. Baker Hughes’s dividend payout ratio (DPR) is 37.67%.

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.