Czech National Bank Boosts Stake in Baker Hughes (NASDAQ:BKR)

Czech National Bank raised its stake in shares of Baker Hughes (NASDAQ:BKR) by 6.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 202,371 shares of the company’s stock after acquiring an additional 12,192 shares during the period. Czech National Bank’s holdings in Baker Hughes were worth $7,316,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Redmont Wealth Advisors LLC purchased a new stake in Baker Hughes during the 1st quarter valued at approximately $27,000. New Covenant Trust Company N.A. purchased a new stake in Baker Hughes during the 1st quarter valued at approximately $34,000. Alta Advisers Ltd purchased a new position in shares of Baker Hughes during the 2nd quarter worth approximately $42,000. Headlands Technologies LLC purchased a new position in shares of Baker Hughes during the 2nd quarter worth approximately $48,000. Finally, UMB Bank n.a. raised its stake 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 buying an additional 1,167 shares in the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $37.61 on Friday. The business’s fifty day moving average price is $35.26 and its two-hundred day moving average price is $34.11. The stock has a market cap of $37.53 billion, a PE ratio of 21.01, a price-to-earnings-growth ratio of 0.59 and a beta of 1.38. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.27. Baker Hughes has a one year low of $28.32 and a one year high of $39.05.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Thursday, July 25th. The company reported $0.57 EPS for the quarter, beating 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 analysts’ expectations of $6.81 billion. During the same quarter in the prior year, the firm earned $0.39 EPS. Baker Hughes’s quarterly revenue was up 12.4% on a year-over-year basis. On average, analysts forecast that Baker Hughes will post 2.25 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Tuesday, August 6th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend was Tuesday, August 6th. Baker Hughes’s dividend payout ratio (DPR) is 46.93%.

Wall Street Analysts Forecast Growth

BKR has been the subject of a number of analyst reports. The Goldman Sachs Group increased their target price on Baker Hughes from $39.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. BMO Capital Markets increased their target price on Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday. Morgan Stanley increased their target price on Baker Hughes from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, October 3rd. Piper Sandler cut their target price on Baker Hughes from $45.00 to $44.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Finally, Bank of America cut their target price on Baker Hughes from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.65.

Insider Transactions at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 114,286 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $35.00, for a total transaction of $4,000,010.00. Following the sale, the chief executive officer now owns 502,053 shares in the company, valued at $17,571,855. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.25% of the company’s stock.

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.