Exchange Traded Concepts LLC Has $706,000 Stake in Baker Hughes (NASDAQ:BKR)

Exchange Traded Concepts LLC lifted its holdings in shares of Baker Hughes (NASDAQ:BKR) by 93.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,522 shares of the company’s stock after buying an additional 9,440 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Baker Hughes were worth $706,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. UMB Bank n.a. grew 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 worth $66,000 after buying an additional 291 shares during the period. Guinness Atkinson Asset Management Inc boosted its stake in Baker Hughes by 6.9% during the 2nd quarter. Guinness Atkinson Asset Management Inc now owns 7,205 shares of the company’s stock worth $253,000 after acquiring an additional 467 shares during the last quarter. Meeder Advisory Services Inc. boosted its stake in Baker Hughes by 5.2% during the 1st quarter. Meeder Advisory Services Inc. now owns 10,438 shares of the company’s stock worth $350,000 after acquiring an additional 520 shares during the last quarter. Signaturefd LLC boosted its stake in Baker Hughes by 8.7% during the 2nd quarter. Signaturefd LLC now owns 6,890 shares of the company’s stock worth $242,000 after acquiring an additional 553 shares during the last quarter. Finally, Gulf International Bank UK Ltd boosted its stake in Baker Hughes by 0.7% during the 1st quarter. Gulf International Bank UK Ltd now owns 86,946 shares of the company’s stock worth $2,912,000 after acquiring an additional 564 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on BKR shares. Barclays reduced their price objective on shares of Baker Hughes from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday. Susquehanna lifted their price objective on shares of Baker Hughes from $40.00 to $46.00 and gave the stock a “positive” rating in a research note on Monday, July 29th. Piper Sandler cut their price target on shares of Baker Hughes from $45.00 to $44.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Evercore ISI lifted their price target on shares of Baker Hughes from $42.00 to $46.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Finally, Benchmark reaffirmed a “buy” rating and issued a $40.00 price target on shares of Baker Hughes in a research note on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.59.

Insider Buying and Selling

In related news, CEO Lorenzo Simonelli sold 114,286 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $35.00, for a total transaction of $4,000,010.00. Following the transaction, the chief executive officer now directly owns 502,053 shares in the company, valued at approximately $17,571,855. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.25% of the stock is owned by corporate insiders.

Baker Hughes Stock Performance

Shares of BKR stock opened at $36.40 on Friday. The company’s fifty day simple moving average is $35.52 and its 200-day simple moving average is $34.29. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. The firm has a market cap of $36.33 billion, a PE ratio of 20.34, a P/E/G ratio of 0.61 and a beta of 1.38. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $39.05.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.08. The business had revenue of $7.10 billion for the quarter, compared to analyst estimates of $6.81 billion. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.39 earnings per share. Equities research analysts expect that Baker Hughes will post 2.25 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Tuesday, August 6th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.84 dividend on an annualized basis and a yield of 2.31%. Baker Hughes’s payout ratio is 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.