Crossmark Global Holdings Inc. Has $2.99 Million Stock Holdings in Baker Hughes Company (NASDAQ:BKR)

Crossmark Global Holdings Inc. grew its stake in Baker Hughes Company (NASDAQ:BKR) by 53.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 68,024 shares of the company’s stock after purchasing an additional 23,746 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Baker Hughes were worth $2,990,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in BKR. Envestnet Asset Management Inc. increased its holdings in Baker Hughes by 2.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 621,468 shares of the company’s stock worth $27,314,000 after purchasing an additional 17,035 shares in the last quarter. Drake & Associates LLC boosted its stake in shares of Baker Hughes by 32.5% during the 1st quarter. Drake & Associates LLC now owns 37,653 shares of the company’s stock worth $1,655,000 after buying an additional 9,226 shares during the last quarter. Penserra Capital Management LLC boosted its stake in shares of Baker Hughes by 127.1% during the 1st quarter. Penserra Capital Management LLC now owns 5,880 shares of the company’s stock worth $257,000 after buying an additional 3,291 shares during the last quarter. Tradewinds LLC. acquired a new position in shares of Baker Hughes during the 1st quarter worth about $5,451,000. Finally, Riggs Asset Managment Co. Inc. boosted its stake in shares of Baker Hughes by 0.7% during the 1st quarter. Riggs Asset Managment Co. Inc. now owns 139,224 shares of the company’s stock worth $6,119,000 after buying an additional 916 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Analyst Upgrades and Downgrades

BKR has been the subject of several recent analyst reports. The Goldman Sachs Group cut their target price on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating for the company in a research note on Wednesday, July 2nd. Barclays cut their price objective on shares of Baker Hughes from $54.00 to $48.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. Royal Bank Of Canada cut their price objective on shares of Baker Hughes from $50.00 to $46.00 and set an “outperform” rating for the company in a research report on Thursday, April 24th. TD Cowen cut their price objective on shares of Baker Hughes from $50.00 to $49.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Finally, Piper Sandler cut their price objective on shares of Baker Hughes from $53.00 to $50.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.50.

Baker Hughes Price Performance

Baker Hughes stock opened at $40.11 on Wednesday. The company’s fifty day moving average price is $37.84 and its 200 day moving average price is $41.00. Baker Hughes Company has a 1 year low of $32.25 and a 1 year high of $49.40. The stock has a market capitalization of $39.74 billion, a P/E ratio of 13.69, a P/E/G ratio of 4.21 and a beta of 0.91. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.93 and a current ratio of 1.34.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.03. The firm had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.54 billion. Baker Hughes had a net margin of 10.51% and a return on equity of 14.70%. As a group, equities research analysts anticipate that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Tuesday, May 6th were issued a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $0.92 annualized dividend and a yield of 2.29%. Baker Hughes’s dividend payout ratio (DPR) is currently 31.40%.

Baker Hughes Company Profile

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.