Ensign Peak Advisors Inc Purchases 163,477 Shares of Baker Hughes (NASDAQ:BKR)

Ensign Peak Advisors Inc lifted its position in shares of Baker Hughes (NASDAQ:BKR) by 15.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,208,851 shares of the company’s stock after buying an additional 163,477 shares during the quarter. Ensign Peak Advisors Inc owned approximately 0.12% of Baker Hughes worth $42,515,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its stake in Baker Hughes by 32.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock worth $581,729,000 after buying an additional 4,207,973 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Baker Hughes by 7.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock worth $348,074,000 after purchasing an additional 680,621 shares during the last quarter. American Century Companies Inc. boosted its position in Baker Hughes by 3.1% during the second quarter. American Century Companies Inc. now owns 8,274,250 shares of the company’s stock valued at $291,005,000 after purchasing an additional 248,122 shares in the last quarter. Clearbridge Investments LLC grew its stake in Baker Hughes by 10.2% in the first quarter. Clearbridge Investments LLC now owns 6,609,115 shares of the company’s stock valued at $221,405,000 after purchasing an additional 612,715 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Baker Hughes by 47.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 5,635,875 shares of the company’s stock worth $192,634,000 after purchasing an additional 1,822,487 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Insider Activity at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $38.55, for a total value of $4,405,725.30. Following the sale, the chief executive officer now directly owns 616,339 shares of the company’s stock, valued at $23,759,868.45. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.25% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. The Goldman Sachs Group lifted their price objective on shares of Baker Hughes from $39.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Evercore ISI upped their price target on Baker Hughes from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Susquehanna raised their price objective on Baker Hughes from $40.00 to $46.00 and gave the stock a “positive” rating in a research report on Monday, July 29th. TD Cowen boosted their target price on Baker Hughes from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, UBS Group decreased their price target on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.19.

Baker Hughes Stock Down 0.9 %

Baker Hughes stock opened at $36.04 on Friday. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $39.05. The firm has a market cap of $35.97 billion, a price-to-earnings ratio of 20.13, a price-to-earnings-growth ratio of 0.54 and a beta of 1.38. The business’s 50-day moving average price is $35.19 and its 200 day moving average price is $33.68. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 0.37.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Thursday, July 25th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.08. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The firm had revenue of $7.10 billion during the quarter, compared to analyst estimates of $6.81 billion. During the same period in the previous year, the firm earned $0.39 EPS. The business’s quarterly revenue was up 12.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Baker Hughes will post 2.24 earnings per share for the current year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Tuesday, August 6th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date was Tuesday, August 6th. Baker Hughes’s dividend payout ratio (DPR) is presently 46.93%.

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.