Waycross Partners LLC Buys 33,239 Shares of Baker Hughes Company $BKR

Waycross Partners LLC bought a new position in shares of Baker Hughes Company (NASDAQ:BKR) during the third quarter, Holdings Channel reports. The institutional investor bought 33,239 shares of the company’s stock, valued at approximately $1,825,000.

A number of other large investors also recently modified their holdings of the business. CenterBook Partners LP increased its position in Baker Hughes by 107.5% in the third quarter. CenterBook Partners LP now owns 59,083 shares of the company’s stock worth $3,244,000 after buying an additional 30,612 shares during the period. Alta Advisers Ltd boosted its holdings in shares of Baker Hughes by 93.4% during the third quarter. Alta Advisers Ltd now owns 7,274 shares of the company’s stock valued at $399,000 after acquiring an additional 3,512 shares during the period. Argonautica Private Wealth Management Inc. acquired a new position in shares of Baker Hughes during the third quarter valued at $436,000. Kestra Advisory Services LLC grew its position in shares of Baker Hughes by 4.9% during the third quarter. Kestra Advisory Services LLC now owns 159,556 shares of the company’s stock worth $8,760,000 after acquiring an additional 7,431 shares during the last quarter. Finally, Genesis Private Wealth LLC bought a new position in shares of Baker Hughes during the third quarter worth about $219,000. 92.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

Analyst Ratings Changes

Several brokerages recently weighed in on BKR. Citigroup cut their price objective on shares of Baker Hughes from $75.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, October 19th. Stifel Nicolaus boosted their target price on shares of Baker Hughes from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Zacks Research cut shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a research report on Thursday. TD Cowen raised their price target on shares of Baker Hughes from $76.00 to $77.00 and gave the company a “buy” rating in a research note on Thursday, October 29th. Finally, 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 report on Thursday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Baker Hughes has a consensus rating of “Moderate Buy” and a consensus price target of $70.27.

Baker Hughes Price Performance

BKR traded up $1.67 on Friday, reaching $47.87. The company had a trading volume of 12,646,896 shares, compared to its average volume of 7,374,273. The company has a market capitalization of $47.52 billion, a P/E ratio of 16.51, a PEG ratio of 2.55 and a beta of 1.07. The company has a current ratio of 1.24, a quick ratio of 0.90 and a debt-to-equity ratio of 0.85. The company has a fifty day moving average of $56.92 and a 200-day moving average of $60.03. Baker Hughes Company has a one year low of $44.26 and a one year high of $70.41.

Baker Hughes (NASDAQ:BKR) last released its quarterly 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. The company had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.74 billion. Baker Hughes had a net margin of 10.08% and a return on equity of 13.55%. Baker Hughes’s revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.68 EPS. As a group, equities research analysts anticipate that Baker Hughes Company will post 2.56 earnings per share for the current year.

Baker Hughes Dividend Announcement

The business also recently disclosed 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 dividend yield of 1.9%. The ex-dividend date is Tuesday, November 10th. Baker Hughes’s dividend payout ratio (DPR) is currently 31.72%.

Baker Hughes Profile

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.

Baker Hughes serves customers around the world.