Strategic Wealth Partners Ltd. Raises Stock Position in Baker Hughes (NASDAQ:BKR)

Strategic Wealth Partners Ltd. boosted its position in shares of Baker Hughes (NASDAQ:BKR) by 35.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 205,627 shares of the company’s stock after purchasing an additional 54,312 shares during the period. Strategic Wealth Partners Ltd.’s holdings in Baker Hughes were worth $7,433,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its stake in shares of Baker Hughes by 32.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock valued at $581,729,000 after acquiring an additional 4,207,973 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Baker Hughes by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock valued at $348,074,000 after acquiring an additional 680,621 shares during the period. Legal & General Group Plc raised its stake in shares of Baker Hughes by 8.6% in the 2nd quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock valued at $306,801,000 after acquiring an additional 692,859 shares during the period. American Century Companies Inc. raised its stake in shares of Baker Hughes by 3.1% in the 2nd quarter. American Century Companies Inc. now owns 8,274,250 shares of the company’s stock valued at $291,005,000 after acquiring an additional 248,122 shares during the period. Finally, Clearbridge Investments LLC raised its stake in shares of Baker Hughes by 10.2% in the 1st quarter. Clearbridge Investments LLC now owns 6,609,115 shares of the company’s stock valued at $221,405,000 after acquiring an additional 612,715 shares during the period. 92.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BKR shares. Stifel Nicolaus boosted their price target on shares of Baker Hughes from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, July 29th. TD Cowen boosted their price target on shares of Baker Hughes from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Royal Bank of Canada upped their target price on shares of Baker Hughes from $39.00 to $43.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Wells Fargo & Company upgraded shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $40.00 to $42.00 in a report on Wednesday, September 25th. Finally, Piper Sandler reduced 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. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $43.56.

Insider Activity

In related news, CEO Lorenzo Simonelli sold 114,286 shares of the stock in a transaction dated Thursday, August 1st. The shares were 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 approximately $23,759,868.45. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.25% of the company’s stock.

Baker Hughes Stock Down 1.3 %

Shares of Baker Hughes stock opened at $37.46 on Wednesday. The company has a market cap of $37.39 billion, a P/E ratio of 20.93, a PEG 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. The firm has a fifty day moving average of $35.29 and a two-hundred day moving average of $34.09.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.08. The business had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $6.81 billion. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The business’s revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.39 EPS. On average, analysts forecast that Baker Hughes will post 2.25 earnings per share for the current year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Stockholders 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 2.24%. Baker Hughes’s dividend payout ratio 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.