Stephens Investment Management Group LLC Acquires 21,048 Shares of Baker Hughes Company $BKR

Stephens Investment Management Group LLC raised its holdings in Baker Hughes Company (NASDAQ:BKR) by 6.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 369,342 shares of the company’s stock after acquiring an additional 21,048 shares during the quarter. Stephens Investment Management Group LLC’s holdings in Baker Hughes were worth $17,994,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Forum Financial Management LP lifted its stake in shares of Baker Hughes by 1.4% in the second quarter. Forum Financial Management LP now owns 17,255 shares of the company’s stock worth $662,000 after acquiring an additional 233 shares during the period. Steward Partners Investment Advisory LLC raised its holdings in Baker Hughes by 4.2% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 6,790 shares of the company’s stock worth $260,000 after purchasing an additional 275 shares during the last quarter. CWM LLC lifted its position in shares of Baker Hughes by 0.6% in the 3rd quarter. CWM LLC now owns 44,731 shares of the company’s stock worth $2,179,000 after purchasing an additional 287 shares during the period. V Square Quantitative Management LLC lifted its position in shares of Baker Hughes by 1.4% in the 2nd quarter. V Square Quantitative Management LLC now owns 21,758 shares of the company’s stock worth $834,000 after purchasing an additional 292 shares during the period. Finally, Moody National Bank Trust Division boosted its stake in shares of Baker Hughes by 5.9% in the 2nd quarter. Moody National Bank Trust Division now owns 5,351 shares of the company’s stock valued at $205,000 after purchasing an additional 296 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BKR. Susquehanna lifted their target price on shares of Baker Hughes from $56.00 to $58.00 and gave the stock a “positive” rating in a research note on Wednesday, January 7th. TD Cowen decreased their price target on Baker Hughes from $57.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, January 7th. Stifel Nicolaus lifted their price objective on Baker Hughes from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. 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 research note on Tuesday, September 30th. Finally, Barclays raised their target price on 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 investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.04.

Baker Hughes Stock Down 0.4%

BKR stock opened at $51.78 on Friday. The firm has a market capitalization of $51.10 billion, a PE ratio of 17.86, a P/E/G ratio of 1.64 and a beta of 0.89. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33. Baker Hughes Company has a twelve month low of $33.60 and a twelve month high of $52.33. The stock’s 50 day moving average is $47.99 and its 200-day moving average is $46.09.

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

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Tuesday, November 4th were paid a $0.23 dividend. The ex-dividend date was Tuesday, November 4th. This represents a $0.92 annualized dividend and a yield of 1.8%. Baker Hughes’s dividend payout ratio (DPR) is 31.72%.

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.