Synergy Asset Management LLC Decreases Stake in Baker Hughes Company $BKR

Synergy Asset Management LLC reduced its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 33.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,351 shares of the company’s stock after selling 13,057 shares during the quarter. Synergy Asset Management LLC’s holdings in Baker Hughes were worth $1,200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. AMG National Trust Bank lifted its stake in Baker Hughes by 3.7% during the 3rd quarter. AMG National Trust Bank now owns 6,831 shares of the company’s stock valued at $333,000 after acquiring an additional 246 shares during the period. Linden Thomas Advisory Services LLC grew its stake in shares of Baker Hughes by 1.3% in the third quarter. Linden Thomas Advisory Services LLC now owns 19,674 shares of the company’s stock worth $959,000 after acquiring an additional 257 shares during the period. Wealthcare Advisory Partners LLC grew its stake in shares of Baker Hughes by 4.4% in the third quarter. Wealthcare Advisory Partners LLC now owns 6,282 shares of the company’s stock worth $306,000 after acquiring an additional 264 shares during the period. Cary Street Partners Investment Advisory LLC raised its holdings in shares of Baker Hughes by 23.5% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 1,421 shares of the company’s stock valued at $69,000 after purchasing an additional 270 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its position in Baker Hughes by 4.2% during the second quarter. Steward Partners Investment Advisory LLC now owns 6,790 shares of the company’s stock valued at $260,000 after purchasing an additional 275 shares during the period. 92.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on BKR. TD Cowen lifted their target price on shares of Baker Hughes from $55.00 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, January 27th. Wall Street Zen upgraded Baker Hughes from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Barclays lifted their price objective on Baker Hughes from $55.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, January 27th. Royal Bank Of Canada reiterated an “outperform” rating and set a $57.00 price objective on shares of Baker Hughes in a research report on Thursday, January 15th. Finally, iA Financial set a $60.00 target price on Baker Hughes in a report on Tuesday, January 27th. Twenty investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $59.61.

Baker Hughes Trading Down 0.4%

Shares of BKR stock opened at $62.36 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.36 and a quick ratio of 1.00. The company has a market cap of $61.63 billion, a price-to-earnings ratio of 23.98, a PEG ratio of 1.69 and a beta of 0.83. Baker Hughes Company has a 1 year low of $33.60 and a 1 year high of $67.00. The firm has a fifty day moving average price of $59.22 and a 200-day moving average price of $51.68.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Monday, January 26th. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.11. Baker Hughes had a return on equity of 14.26% and a net margin of 9.33%.The company had revenue of $7.39 billion for the quarter, compared to analysts’ expectations of $7.09 billion. During the same period last year, the firm earned $0.70 EPS. Baker Hughes’s revenue for the quarter was up .3% compared to the same quarter last year. As a group, equities analysts predict that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, February 17th. Baker Hughes’s payout ratio is presently 35.38%.

Insider Buying and Selling

In related news, Director William G. Beattie sold 18,023 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $57.29, for a total value of $1,032,537.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Maria Georgia Magno sold 19,150 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $59.11, for a total transaction of $1,131,956.50. Following the sale, the insider owned 14,588 shares in the company, valued at approximately $862,296.68. The trade was a 56.76% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 590,251 shares of company stock valued at $35,311,023. Insiders own 0.27% of the company’s stock.

Baker Hughes Company Profile

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.