MBB Public Markets I LLC Takes Position in Baker Hughes (NASDAQ:BKR)

MBB Public Markets I LLC purchased a new position in shares of Baker Hughes (NASDAQ:BKR) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 70,420 shares of the company’s stock, valued at approximately $2,477,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Redmont Wealth Advisors LLC purchased a new stake in shares of Baker Hughes during the first quarter worth about $27,000. New Covenant Trust Company N.A. bought a new position in Baker Hughes in the first quarter worth about $34,000. Alta Advisers Ltd acquired a new position in Baker Hughes in the second quarter valued at approximately $42,000. Headlands Technologies LLC bought a new position in shares of Baker Hughes during the second quarter valued at approximately $48,000. Finally, UMB Bank n.a. raised its position in shares of Baker Hughes by 281.2% during the 1st quarter. UMB Bank n.a. now owns 1,582 shares of the company’s stock worth $53,000 after purchasing an additional 1,167 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on BKR shares. Jefferies Financial Group boosted their price objective on Baker Hughes from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Piper Sandler lowered their price target on shares of Baker Hughes from $45.00 to $44.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. The Goldman Sachs Group lifted their price objective on shares of Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Bank of America decreased their target price on shares of Baker Hughes from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Finally, Morgan Stanley dropped their price target on shares of Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $43.38.

Baker Hughes Stock Up 4.1 %

Shares of BKR stock opened at $36.18 on Friday. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $39.05. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.27. The business’s fifty day moving average is $35.19 and its 200-day moving average is $33.86. The stock has a market cap of $36.11 billion, a PE ratio of 20.21, a price-to-earnings-growth ratio of 0.59 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Thursday, July 25th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.08. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The firm had revenue of $7.10 billion for the quarter, compared to analyst estimates of $6.81 billion. During the same period in the previous year, the company earned $0.39 earnings per share. Baker Hughes’s revenue was up 12.4% compared to the same quarter last year. Equities analysts expect that Baker Hughes will post 2.25 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Tuesday, August 6th were issued a $0.21 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.32%. Baker Hughes’s payout ratio is currently 46.93%.

Insider Activity at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $35.00, for a total value of $4,000,010.00. Following the transaction, the chief executive officer now owns 502,053 shares of the company’s stock, valued at $17,571,855. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.25% of the company’s stock.

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.