28,457 Shares in Baker Hughes Company $BKR Purchased by Tema Etfs LLC

Tema Etfs LLC bought a new stake in Baker Hughes Company (NASDAQ:BKR) during the third quarter, Holdings Channel.com reports. The institutional investor bought 28,457 shares of the company’s stock, valued at approximately $1,386,000.

Several other hedge funds also recently bought and sold shares of BKR. E Fund Management Hong Kong Co. Ltd. increased its position in shares of Baker Hughes by 104.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock valued at $32,000 after acquiring an additional 337 shares during the last quarter. Harbour Investments Inc. lifted its holdings in shares of Baker Hughes by 61.7% in the 2nd quarter. Harbour Investments Inc. now owns 854 shares of the company’s stock worth $33,000 after acquiring an additional 326 shares during the last quarter. LFA Lugano Financial Advisors SA purchased a new position in shares of Baker Hughes during the 2nd quarter worth approximately $36,000. Twin Peaks Wealth Advisors LLC acquired a new stake in Baker Hughes in the 2nd quarter valued at approximately $36,000. Finally, LRI Investments LLC increased its holdings in Baker Hughes by 59.3% in the 2nd quarter. LRI Investments LLC now owns 1,032 shares of the company’s stock valued at $40,000 after purchasing an additional 384 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Trading Down 4.0%

NASDAQ:BKR opened at $47.95 on Tuesday. Baker Hughes Company has a 12-month low of $33.60 and a 12-month high of $51.12. The firm has a market cap of $47.32 billion, a PE ratio of 16.53, a price-to-earnings-growth ratio of 1.76 and a beta of 0.89. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. The stock has a fifty day moving average price of $47.70 and a 200 day moving average price of $45.80.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Thursday, October 23rd. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.06. The company had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $6.81 billion. Baker Hughes had a return on equity of 14.22% and a net margin of 10.43%.Baker Hughes’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.67 EPS. Sell-side analysts anticipate that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Tuesday, November 4th were issued a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, November 4th. This represents a $0.92 annualized dividend and a yield of 1.9%. Baker Hughes’s dividend payout ratio (DPR) is 31.72%.

Analysts Set New Price Targets

BKR has been the topic of a number of research reports. Royal Bank Of Canada upped their price target on Baker Hughes from $50.00 to $54.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. JPMorgan Chase & Co. boosted their price objective on Baker Hughes from $52.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, September 30th. Capital One Financial increased their target price on Baker Hughes from $49.00 to $53.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 16th. Piper Sandler lifted their target price on Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Finally, Barclays boosted their price target on shares of Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Twenty-three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $53.92.

About Baker Hughes

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.