Baker Hughes Company $BKR Stock Acquired by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC grew its stake in Baker Hughes Company (NASDAQ:BKR) by 6.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 163,144 shares of the company’s stock after buying an additional 10,588 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Baker Hughes were worth $8,957,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of BKR. Amundi increased its position in shares of Baker Hughes by 28.2% in the first quarter. Amundi now owns 10,946,464 shares of the company’s stock valued at $668,282,000 after buying an additional 2,409,978 shares in the last quarter. Advent International L.P. purchased a new position in Baker Hughes in the 1st quarter worth approximately $72,309,000. Assenagon Asset Management S.A. boosted its position in shares of Baker Hughes by 1,289.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,210,521 shares of the company’s stock valued at $72,630,000 after acquiring an additional 1,123,391 shares during the last quarter. Perpetual Ltd increased its holdings in shares of Baker Hughes by 24.0% during the 3rd quarter. Perpetual Ltd now owns 3,958,604 shares of the company’s stock worth $217,327,000 after buying an additional 765,582 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Baker Hughes in the third quarter valued at $38,380,000. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on BKR shares. TD Cowen lifted their target price on shares of Baker Hughes from $76.00 to $77.00 and gave the company a “buy” rating in a report on Thursday, October 29th. UBS Group decreased their price objective on shares of Baker Hughes from $72.00 to $69.00 and set a “neutral” rating for the company in a research report on Wednesday, September 30th. Zacks Research lowered Baker Hughes from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 5th. Barclays cut their price target on Baker Hughes from $72.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 29th. Finally, Stifel Nicolaus raised their price target on Baker Hughes from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $70.27.

Insider Buying and Selling

In other news, Director John Rice purchased 10,000 shares of the business’s stock in a transaction on Tuesday, November 3rd. The shares were bought at an average price of $53.10 per share, with a total value of $531,000.00. Following the completion of the transaction, the director directly owned 77,315 shares in the company, valued at approximately $4,105,426.50. This represents a 14.86% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.19% of the stock is currently owned by company insiders.

Baker Hughes Stock Performance

Shares of BKR stock opened at $49.44 on Friday. The stock’s 50-day moving average is $55.44 and its two-hundred day moving average is $59.87. The firm has a market cap of $49.10 billion, a price-to-earnings ratio of 17.05, a PEG ratio of 2.33 and a beta of 1.07. Baker Hughes Company has a 1 year low of $44.26 and a 1 year high of $70.41. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.90 and a current ratio of 1.24.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Tuesday, October 27th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. Baker Hughes had a return on equity of 13.55% and a net margin of 10.08%. The business had revenue of $8.03 billion for the quarter, compared to analysts’ expectations of $7.74 billion. During the same quarter in the previous year, the firm earned $0.68 earnings per share. The business’s revenue was up 14.5% compared to the same quarter last year. Analysts predict that Baker Hughes Company will post 2.56 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Tuesday, November 10th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Tuesday, November 10th. Baker Hughes’s dividend payout ratio (DPR) is currently 31.72%.

About Baker Hughes

Baker Hughes (NASDAQ: BKR) is an energy technology company that provides products and services to the oil and gas industry and other industrial markets. Its offerings include equipment and services used across the energy value chain, from exploration and production to transportation and processing. The company also develops turbomachinery, industrial equipment, digital technologies and solutions for energy and industrial applications. Its portfolio includes technologies designed to support more efficient operations and lower-emissions energy systems.