Baker Hughes Company $BKR Shares Bought by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. increased its stake in shares of Baker Hughes Company (NASDAQ:BKR) by 10.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 264,246 shares of the company’s stock after buying an additional 25,242 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Baker Hughes were worth $14,777,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in BKR. MCF Advisors LLC raised its stake in Baker Hughes by 121.4% during the 2nd quarter. MCF Advisors LLC now owns 476 shares of the company’s stock valued at $26,000 after acquiring an additional 261 shares during the last quarter. Olistico Wealth LLC grew its stake in shares of Baker Hughes by 209.4% in the 3rd quarter. Olistico Wealth LLC now owns 495 shares of the company’s stock valued at $27,000 after purchasing an additional 335 shares during the last quarter. Elevation Wealth Partners LLC increased its holdings in shares of Baker Hughes by 260.1% in the third quarter. Elevation Wealth Partners LLC now owns 497 shares of the company’s stock valued at $27,000 after purchasing an additional 359 shares during the period. Latitude Advisors LLC acquired a new position in shares of Baker Hughes in the third quarter valued at approximately $27,000. Finally, Godsey & Gibb Inc. acquired a new position in shares of Baker Hughes in the third quarter valued at approximately $33,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $49.87 on Thursday. The firm has a market capitalization of $49.50 billion, a price-to-earnings ratio of 17.20, a price-to-earnings-growth ratio of 2.52 and a beta of 1.07. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.24 and a quick ratio of 0.90. The business’s 50 day simple moving average is $57.52 and its 200-day simple moving average is $60.07. Baker Hughes Company has a 12 month low of $44.26 and a 12 month high of $70.41.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Tuesday, October 27th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.09. The business had revenue of $8.03 billion during the quarter, compared to analysts’ expectations of $7.74 billion. Baker Hughes had a return on equity of 13.55% and a net margin of 10.08%. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter last year, the business posted $0.68 earnings per share. As a group, equities analysts forecast that Baker Hughes Company will post 2.56 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Tuesday, November 10th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Tuesday, November 10th. Baker Hughes’s dividend payout ratio is 31.72%.

Wall Street Analysts Forecast Growth

BKR has been the topic of several recent research reports. Wolfe Research assumed coverage on shares of Baker Hughes in a research note on Wednesday, July 8th. They issued an “outperform” rating and a $70.00 price objective on the stock. Morgan Stanley lowered their target price on shares of Baker Hughes from $70.00 to $68.00 and set an “overweight” rating on the stock in a report on Thursday, October 29th. Piper Sandler dropped their price target on shares of Baker Hughes from $73.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, October 29th. Stifel Nicolaus increased their price target on shares of Baker Hughes from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Finally, Citigroup lowered their price objective on Baker Hughes from $75.00 to $72.00 and set a “buy” rating on the stock in a report on Monday, October 19th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $70.27.

About Baker Hughes

Baker Hughes Company (NASDAQ: BKR) is an energy technology company that provides products, services and digital solutions for the oil and gas industry and other energy-related markets. Its offerings support the exploration, drilling, completion, production and maintenance of energy assets across the lifecycle of a project.

The company’s oilfield services and equipment business provides technologies such as drilling systems, well completions, artificial lift, subsea equipment, production chemicals and well intervention services.