Baker Hughes (NASDAQ:BKR) Shares Acquired by Tectonic Advisors LLC

Tectonic Advisors LLC boosted its position in Baker Hughes (NASDAQ:BKR) by 5.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,019 shares of the company’s stock after buying an additional 687 shares during the quarter. Tectonic Advisors LLC’s holdings in Baker Hughes were worth $471,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its position in shares of Baker Hughes by 32.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock worth $581,729,000 after buying an additional 4,207,973 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Baker Hughes by 7.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock valued at $348,074,000 after acquiring an additional 680,621 shares during the last quarter. Legal & General Group Plc grew its holdings in Baker Hughes by 8.6% during the 2nd quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock worth $306,801,000 after acquiring an additional 692,859 shares in the last quarter. American Century Companies Inc. increased its position in shares of Baker Hughes by 3.1% in the 2nd quarter. American Century Companies Inc. now owns 8,274,250 shares of the company’s stock worth $291,005,000 after purchasing an additional 248,122 shares during the last quarter. Finally, Clearbridge Investments LLC raised its stake in shares of Baker Hughes by 10.2% in the 1st quarter. Clearbridge Investments LLC now owns 6,609,115 shares of the company’s stock valued at $221,405,000 after purchasing an additional 612,715 shares in the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 114,286 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $38.55, for a total value of $4,405,725.30. Following the completion of the transaction, the chief executive officer now owns 616,339 shares in the company, valued at $23,759,868.45. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.25% of the stock is owned by insiders.

Baker Hughes Stock Performance

NASDAQ:BKR opened at $37.52 on Friday. The company has a 50-day moving average of $35.64 and a 200-day moving average of $34.36. The firm has a market cap of $37.44 billion, a price-to-earnings ratio of 20.96, a price-to-earnings-growth ratio of 0.61 and a beta of 1.38. The company has a current ratio of 1.27, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $39.05.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.61 by $0.06. The business had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.21 billion. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.42 earnings per share. Analysts forecast that Baker Hughes will post 2.25 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 Thursday, November 14th. Investors of record on Monday, November 4th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Monday, November 4th. Baker Hughes’s payout ratio is 46.93%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. TD Cowen boosted their price objective on Baker Hughes from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Piper Sandler cut their price objective on shares of Baker Hughes from $45.00 to $44.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Susquehanna upped their target price on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a “positive” rating in a research report on Thursday. Morgan Stanley lifted their price target on Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. Finally, Argus raised Baker Hughes from a “hold” rating to a “buy” rating in a report on Friday. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.12.

About Baker Hughes

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.