MML Investors Services LLC Raises Stock Holdings in Baker Hughes (NASDAQ:BKR)

MML Investors Services LLC raised its position in shares of Baker Hughes (NASDAQ:BKR) by 14.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,340 shares of the company’s stock after purchasing an additional 2,214 shares during the quarter. MML Investors Services LLC’s holdings in Baker Hughes were worth $627,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of BKR. Orion Portfolio Solutions LLC boosted its position in Baker Hughes by 4.8% in the third quarter. Orion Portfolio Solutions LLC now owns 33,758 shares of the company’s stock valued at $1,220,000 after buying an additional 1,549 shares during the last quarter. Yaupon Capital Management LP purchased a new position in shares of Baker Hughes during the third quarter worth $47,296,000. Zurich Insurance Group Ltd FI lifted its position in Baker Hughes by 60.7% during the third quarter. Zurich Insurance Group Ltd FI now owns 949,526 shares of the company’s stock valued at $34,325,000 after purchasing an additional 358,756 shares during the period. iSAM Funds UK Ltd purchased a new stake in Baker Hughes in the third quarter valued at $245,000. Finally, National Bank of Canada FI grew its position in Baker Hughes by 60.3% during the 3rd quarter. National Bank of Canada FI now owns 1,270,165 shares of the company’s stock worth $45,916,000 after purchasing an additional 478,009 shares during the period. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Stock Performance

NASDAQ BKR opened at $40.32 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. The stock’s 50 day simple moving average is $40.85 and its 200-day simple moving average is $36.99. The company has a market cap of $39.90 billion, a PE ratio of 18.08, a price-to-earnings-growth ratio of 0.72 and a beta of 1.40. Baker Hughes has a 1-year low of $28.32 and a 1-year high of $45.17.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The company had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.21 billion. During the same quarter last year, the firm posted $0.42 EPS. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, equities research analysts anticipate that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.84 annualized dividend and a yield of 2.08%. Baker Hughes’s dividend payout ratio is presently 37.67%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on BKR shares. Stifel Nicolaus boosted their price objective on Baker Hughes from $45.00 to $48.00 and gave the company a “buy” rating in a report on Monday, November 25th. Susquehanna boosted their price target on Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a report on Thursday, October 24th. Royal Bank of Canada raised their price objective on shares of Baker Hughes from $43.00 to $49.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Piper Sandler began coverage on shares of Baker Hughes in a research note on Thursday. They issued an “overweight” rating and a $53.00 target price for the company. Finally, Benchmark restated a “buy” rating and set a $42.00 price target on shares of Baker Hughes in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, Baker Hughes presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.00.

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.