Czech National Bank Buys 12,192 Shares of Baker Hughes (NASDAQ:BKR)

Czech National Bank boosted its stake in Baker Hughes (NASDAQ:BKR) by 6.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 202,371 shares of the company’s stock after purchasing an additional 12,192 shares during the quarter. Czech National Bank’s holdings in Baker Hughes were worth $7,316,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. UMB Bank n.a. boosted its position in shares of Baker Hughes by 18.4% during the 2nd quarter. UMB Bank n.a. now owns 1,873 shares of the company’s stock valued at $66,000 after acquiring an additional 291 shares during the last quarter. Guinness Atkinson Asset Management Inc boosted its position in shares of Baker Hughes by 6.9% during the 2nd quarter. Guinness Atkinson Asset Management Inc now owns 7,205 shares of the company’s stock valued at $253,000 after acquiring an additional 467 shares during the last quarter. Meeder Advisory Services Inc. boosted its position in shares of Baker Hughes by 5.2% during the 1st quarter. Meeder Advisory Services Inc. now owns 10,438 shares of the company’s stock valued at $350,000 after acquiring an additional 520 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Baker Hughes by 0.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 107,946 shares of the company’s stock valued at $3,690,000 after acquiring an additional 525 shares during the last quarter. Finally, Rise Advisors LLC boosted its position in shares of Baker Hughes by 46.9% during the 1st quarter. Rise Advisors LLC now owns 1,667 shares of the company’s stock valued at $56,000 after acquiring an additional 532 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Price Performance

Shares of Baker Hughes stock opened at $37.93 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 0.86. Baker Hughes has a one year low of $28.32 and a one year high of $39.05. The stock has a market capitalization of $37.85 billion, a P/E ratio of 21.19, a price-to-earnings-growth ratio of 0.59 and a beta of 1.38. The business’s 50 day simple moving average is $35.31 and its two-hundred day simple moving average is $34.03.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Thursday, July 25th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the previous year, the firm earned $0.39 earnings per share. The business’s revenue was up 12.4% compared to the same quarter last year. Analysts forecast that Baker Hughes will post 2.25 EPS 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 paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.84 annualized dividend and a dividend yield of 2.21%. Baker Hughes’s dividend payout ratio (DPR) is presently 46.93%.

Insider Activity

In other news, CEO Lorenzo Simonelli sold 114,286 shares of the business’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 transaction of $4,405,725.30. Following the transaction, the chief executive officer now directly owns 616,339 shares of the company’s stock, valued at approximately $23,759,868.45. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

BKR has been the subject of a number of research analyst reports. TD Cowen lifted their price target on Baker Hughes from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Bank of America decreased their price objective on Baker Hughes from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, July 15th. The Goldman Sachs Group raised their price objective on Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, July 29th. Citigroup decreased their price objective on Baker Hughes from $44.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, September 27th. Finally, Piper Sandler decreased their price objective on Baker Hughes from $45.00 to $44.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Baker Hughes currently has an average rating of “Moderate Buy” and a consensus target price of $43.56.

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.