Access Financial Services Inc. Has $1.49 Million Holdings in Baker Hughes (NASDAQ:BKR)

Access Financial Services Inc. lowered its position in shares of Baker Hughes (NASDAQ:BKR) by 9.5% during the fourth quarter, Holdings Channel reports. The fund owned 43,494 shares of the company’s stock after selling 4,591 shares during the quarter. Access Financial Services Inc.’s holdings in Baker Hughes were worth $1,487,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Trueblood Wealth Management LLC acquired a new position in Baker Hughes in the 4th quarter valued at approximately $990,000. DDD Partners LLC purchased a new stake in shares of Baker Hughes during the 4th quarter worth about $11,054,000. Tectonic Advisors LLC raised its stake in shares of Baker Hughes by 9.4% during the 4th quarter. Tectonic Advisors LLC now owns 9,091 shares of the company’s stock worth $311,000 after purchasing an additional 782 shares in the last quarter. Bar Harbor Wealth Management lifted its holdings in shares of Baker Hughes by 0.7% during the 4th quarter. Bar Harbor Wealth Management now owns 170,255 shares of the company’s stock valued at $5,819,000 after buying an additional 1,255 shares during the last quarter. Finally, F&V Capital Management LLC grew its stake in shares of Baker Hughes by 1.9% in the 4th quarter. F&V Capital Management LLC now owns 195,890 shares of the company’s stock valued at $6,696,000 after buying an additional 3,600 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Insiders Place Their Bets

In related news, SVP James E. Apostolides sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total transaction of $294,400.00. Following the completion of the sale, the senior vice president now directly owns 14,451 shares of the company’s stock, valued at $425,437.44. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on BKR shares. Barclays cut their price target on shares of Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a report on Friday, January 26th. Wolfe Research downgraded Baker Hughes from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 29th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $39.00 target price on shares of Baker Hughes in a research report on Thursday, February 1st. TD Cowen lifted their price target on shares of Baker Hughes from $46.00 to $49.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Finally, Citigroup decreased their price objective on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating for the company in a report on Friday, January 26th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Baker Hughes has an average rating of “Moderate Buy” and an average target price of $41.00.

Baker Hughes Price Performance

NASDAQ:BKR opened at $33.50 on Friday. The company has a market capitalization of $33.53 billion, a price-to-earnings ratio of 17.54, a PEG ratio of 0.68 and a beta of 1.41. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.86 and a current ratio of 1.25. Baker Hughes has a 52 week low of $26.81 and a 52 week high of $37.58. The company has a 50-day moving average of $30.51 and a 200-day moving average of $32.87.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Wednesday, January 24th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.47 by $0.04. The company had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.93 billion. Baker Hughes had a net margin of 7.62% and a return on equity of 10.63%. The firm’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.38 EPS. As a group, equities research analysts anticipate that Baker Hughes will post 2.07 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Tuesday, February 13th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, February 12th. This represents a $0.84 dividend on an annualized basis and a yield of 2.51%. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.20. Baker Hughes’s dividend payout ratio is currently 43.98%.

Baker Hughes Company 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.