Ensign Peak Advisors Inc Has $62.80 Million Stake in Baker Hughes (NASDAQ:BKR)

Ensign Peak Advisors Inc boosted its holdings in Baker Hughes (NASDAQ:BKR) by 40.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,531,007 shares of the company’s stock after buying an additional 440,683 shares during the period. Ensign Peak Advisors Inc owned approximately 0.15% of Baker Hughes worth $62,802,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Strategic Financial Concepts LLC acquired a new position in shares of Baker Hughes in the 4th quarter valued at $640,000. Burney Co. increased its holdings in Baker Hughes by 315.0% in the fourth quarter. Burney Co. now owns 138,788 shares of the company’s stock valued at $5,693,000 after purchasing an additional 105,349 shares during the last quarter. Geode Capital Management LLC lifted its stake in Baker Hughes by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company’s stock valued at $1,004,212,000 after buying an additional 465,832 shares during the period. Northstar Advisory Group LLC bought a new position in Baker Hughes during the fourth quarter worth about $1,180,000. Finally, Artemis Investment Management LLP increased its stake in shares of Baker Hughes by 29.4% in the 4th quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company’s stock valued at $43,233,000 after acquiring an additional 239,773 shares during the last quarter. 92.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on BKR shares. Stifel Nicolaus set a $50.00 price objective on shares of Baker Hughes and gave the stock a “buy” rating in a research note on Thursday, April 24th. Royal Bank of Canada decreased their price target on shares of Baker Hughes from $50.00 to $46.00 and set an “outperform” rating for the company in a report on Thursday, April 24th. Piper Sandler lowered their price objective on shares of Baker Hughes from $53.00 to $50.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. TD Cowen reduced their target price on Baker Hughes from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Finally, TD Securities lowered their price target on Baker Hughes from $50.00 to $49.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $49.11.

Baker Hughes Stock Performance

Shares of BKR stock opened at $36.49 on Friday. Baker Hughes has a 12 month low of $30.93 and a 12 month high of $49.40. The company’s fifty day simple moving average is $39.72 and its 200-day simple moving average is $42.00. The firm has a market cap of $36.15 billion, a PE ratio of 12.24, a P/E/G ratio of 2.00 and a beta of 0.96. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. The firm had revenue of $6.43 billion for the quarter, compared to analysts’ expectations of $6.54 billion. Equities research analysts expect that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Tuesday, May 6th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, May 6th. This represents a $0.92 annualized dividend and a yield of 2.52%. Baker Hughes’s dividend payout ratio (DPR) is presently 31.40%.

Baker Hughes 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.