Nissay Asset Management Corp Japan ADV purchased a new stake in Baker Hughes Company (NYSE:BKR) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 69,678 shares of the company’s stock, valued at approximately $1,072,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Parallel Advisors LLC acquired a new position in Baker Hughes in the second quarter valued at approximately $31,000. TCI Wealth Advisors Inc. acquired a new position in Baker Hughes in the second quarter valued at approximately $32,000. Versant Capital Management Inc acquired a new position in Baker Hughes in the second quarter valued at approximately $39,000. Westside Investment Management Inc. acquired a new position in Baker Hughes in the second quarter valued at approximately $46,000. Finally, Investors Research Corp acquired a new position in Baker Hughes in the second quarter valued at approximately $47,000. Hedge funds and other institutional investors own 95.98% of the company’s stock.
BKR has been the topic of a number of recent analyst reports. UBS Group upped their price objective on Baker Hughes from $17.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Scotiabank upped their price target on Baker Hughes from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research note on Friday, July 24th. Citigroup upped their price target on Baker Hughes from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Cowen upped their price target on Baker Hughes from $19.00 to $21.00 and gave the stock an “outperform” rating in a research note on Friday, June 19th. Finally, Stephens upped their price target on Baker Hughes from $14.00 to $16.00 and gave the stock an “overweight” rating in a research note on Thursday, April 16th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $18.07.
Baker Hughes (NYSE:BKR) last posted its earnings results on Wednesday, July 22nd. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.04). The business had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.69 billion. Baker Hughes had a negative net margin of 46.03% and a positive return on equity of 1.27%. On average, equities analysts forecast that Baker Hughes Company will post 0.22 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Monday, August 10th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 4.65%. The ex-dividend date is Friday, August 7th. Baker Hughes’s dividend payout ratio (DPR) is presently 84.71%.
Baker Hughes Profile
Baker Hughes Company provides integrated oilfield products, services, and digital solutions worldwide. Its Oilfield Services segment offers drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, completions tools and systems, wellbore intervention tools and services, artificial lift systems, pressure pumping systems, and oilfield and industrial chemicals for integrated oil and natural gas and oilfield service companies.
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