Quintet Private Bank Europe S.A. Buys New Stake in Baker Hughes Company $BKR

Quintet Private Bank Europe S.A. bought a new stake in Baker Hughes Company (NASDAQ:BKR) in the 3rd quarter, according to its most recent filing with the SEC. The fund bought 8,930 shares of the company’s stock, valued at approximately $490,000.

A number of other hedge funds have also recently added to or reduced their stakes in BKR. MCF Advisors LLC increased its holdings in Baker Hughes by 121.4% in the second quarter. MCF Advisors LLC now owns 476 shares of the company’s stock valued at $26,000 after buying an additional 261 shares in the last quarter. Olistico Wealth LLC boosted its position in Baker Hughes by 209.4% during the third quarter. Olistico Wealth LLC now owns 495 shares of the company’s stock worth $27,000 after purchasing an additional 335 shares in the last quarter. Elevation Wealth Partners LLC boosted its position in Baker Hughes by 260.1% during the third quarter. Elevation Wealth Partners LLC now owns 497 shares of the company’s stock worth $27,000 after purchasing an additional 359 shares in the last quarter. Meeder Asset Management Inc. grew its holdings in Baker Hughes by 49.0% in the first quarter. Meeder Asset Management Inc. now owns 651 shares of the company’s stock valued at $40,000 after purchasing an additional 214 shares during the period. Finally, Jones Financial Companies Lllp acquired a new stake in Baker Hughes in the second quarter valued at approximately $39,000. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Stock Up 1.4%

BKR traded up $0.77 during trading hours on Thursday, hitting $56.18. 2,484,178 shares of the company’s stock were exchanged, compared to its average volume of 8,759,933. The firm has a market cap of $55.77 billion, a P/E ratio of 18.14, a price-to-earnings-growth ratio of 2.71 and a beta of 1.04. The company has a current ratio of 2.09, a quick ratio of 1.76 and a debt-to-equity ratio of 0.77. Baker Hughes Company has a 12-month low of $43.92 and a 12-month high of $70.41. The firm has a 50 day moving average of $60.59 and a 200 day moving average of $61.10.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Monday, July 27th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.13. Baker Hughes had a return on equity of 13.85% and a net margin of 11.17%.The firm had revenue of $6.74 billion during the quarter, compared to analyst estimates of $6.54 billion. During the same period last year, the business posted $0.63 earnings per share. Baker Hughes’s revenue was up 2.4% compared to the same quarter last year. Analysts predict that Baker Hughes Company will post 2.58 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Friday, August 7th were issued a $0.23 dividend. The ex-dividend date was Friday, August 7th. This represents a $0.92 annualized dividend and a dividend yield of 1.6%. Baker Hughes’s dividend payout ratio is presently 29.68%.

Wall Street Analyst Weigh In

BKR has been the subject of several research analyst reports. TD Cowen reduced their target price on Baker Hughes from $78.00 to $76.00 and set a “buy” rating for the company in a research note on Tuesday, September 29th. The Goldman Sachs Group reissued a “buy” rating and issued a $71.00 price target on shares of Baker Hughes in a report on Tuesday, September 29th. UBS Group decreased their price objective on shares of Baker Hughes from $72.00 to $69.00 and set a “neutral” rating on the stock in a report on Wednesday, September 30th. Citigroup boosted their target price on shares of Baker Hughes from $74.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Finally, Wolfe Research initiated coverage on Baker Hughes in a research report on Wednesday, July 8th. They issued an “outperform” rating and a $70.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $71.41.

Baker Hughes Profile

Baker Hughes Company (NASDAQ:BKR) is an energy technology company that provides equipment, services and digital solutions to oil and gas producers, industrial companies and other energy customers. Its offerings support activities across the energy value chain, including exploration and production, drilling, well construction, production optimization, and the transportation and processing of hydrocarbons.

The company supplies oilfield services and equipment such as drilling systems, well-completion technologies, artificial-lift systems, subsea production equipment and well-intervention services.