Baker Hughes Company $BKR Holdings Lifted by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. boosted its position in 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 period. Rakuten Investment Management Inc.’s holdings in Baker Hughes were worth $14,777,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. NewEdge Advisors LLC increased its holdings in Baker Hughes by 152.3% in the second quarter. NewEdge Advisors LLC now owns 149,817 shares of the company’s stock valued at $8,315,000 after buying an additional 90,427 shares in the last quarter. National Pension Service grew its position in shares of Baker Hughes by 29.0% in the second quarter. National Pension Service now owns 1,867,731 shares of the company’s stock valued at $103,659,000 after purchasing an additional 419,426 shares in the last quarter. Fifth Third Bancorp boosted its stake in Baker Hughes by 367.1% during the first quarter. Fifth Third Bancorp now owns 199,621 shares of the company’s stock worth $12,187,000 after buying an additional 156,881 shares during the last quarter. Allworth Financial LP grew its holdings in Baker Hughes by 19.5% in the 2nd quarter. Allworth Financial LP now owns 231,538 shares of the company’s stock valued at $12,850,000 after buying an additional 37,814 shares in the last quarter. Finally, Talon Private Wealth LLC purchased a new stake in Baker Hughes in the 1st quarter valued at $2,991,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Freedom Broker raised shares of Baker Hughes from a “sell” rating to a “hold” rating and increased their price target for the company from $51.00 to $52.00 in a research note on Friday, October 30th. Piper Sandler reduced 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 report on Thursday, October 29th. Susquehanna upped their price objective on Baker Hughes from $72.00 to $75.00 and gave the company a “positive” rating in a report on Thursday, September 10th. Royal Bank Of Canada lowered their price objective on Baker Hughes from $71.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, October 29th. Finally, Morgan Stanley cut their target price on Baker Hughes from $70.00 to $68.00 and set an “overweight” rating for the company in a research note on Thursday, October 29th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Baker Hughes has an average rating of “Moderate Buy” and a consensus target price of $70.27.

Baker Hughes Price Performance

Baker Hughes stock opened at $49.87 on Thursday. The firm has a market cap of $49.50 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 2.52 and a beta of 1.07. Baker Hughes Company has a 52-week low of $44.26 and a 52-week high of $70.41. The company has a quick ratio of 0.90, a current ratio of 1.24 and a debt-to-equity ratio of 0.85. The company’s 50 day moving average is $57.52 and its two-hundred day moving average is $60.07.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Tuesday, October 27th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. Baker Hughes had a return on equity of 13.55% and a net margin of 10.08%. The business had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.74 billion. During the same quarter in the prior year, the company earned $0.68 earnings per share. The company’s revenue was up 14.5% on a year-over-year basis. On average, research analysts expect that Baker Hughes Company will post 2.56 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

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

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.