Baker Hughes (NASDAQ:BKR) Shares Purchased by Adams Natural Resources Fund Inc.

Adams Natural Resources Fund Inc. boosted its holdings in Baker Hughes (NASDAQ:BKR - Free Report) by 34.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 398,800 shares of the company's stock after buying an additional 102,400 shares during the period. Baker Hughes makes up about 2.1% of Adams Natural Resources Fund Inc.'s investment portfolio, making the stock its 13th largest position. Adams Natural Resources Fund Inc.'s holdings in Baker Hughes were worth $14,417,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD lifted its position in Baker Hughes by 32.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company's stock worth $581,729,000 after acquiring an additional 4,207,973 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Baker Hughes by 7.4% during the second 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 in the last quarter. Legal & General Group Plc lifted its position in shares of Baker Hughes by 8.6% during the second quarter. Legal & General Group Plc now owns 8,723,388 shares of the company's stock worth $306,801,000 after purchasing an additional 692,859 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Baker Hughes by 3.1% in 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 during the period. Finally, Clearbridge Investments LLC grew its holdings in Baker Hughes by 10.2% during the 1st 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 in the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Stock Performance

Shares of NASDAQ BKR traded up $0.28 during midday trading on Wednesday, hitting $37.37. 2,662,037 shares of the company's stock were exchanged, compared to its average volume of 7,197,584. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $39.05. The firm has a market cap of $37.30 billion, a P/E ratio of 20.72, a PEG ratio of 0.61 and a beta of 1.38. The stock's 50 day moving average price is $35.80 and its 200-day moving average price is $34.44. 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 (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.61 by $0.06. The company had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.21 billion. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The firm's quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 EPS. Equities research analysts anticipate that Baker Hughes will post 2.25 EPS for the current year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 4th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Monday, November 4th. Baker Hughes's dividend payout ratio is currently 46.93%.

Insider Activity

In related news, CEO Lorenzo Simonelli sold 114,286 shares of the business's stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $35.00, for a total transaction of $4,000,010.00. Following the sale, the chief executive officer now owns 502,053 shares of the company's stock, valued at $17,571,855. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.25% of the company's stock.

Wall Street Analyst Weigh In

BKR has been the subject of a number of analyst reports. Piper Sandler decreased their price objective 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. Evercore ISI raised their price objective on Baker Hughes from $42.00 to $46.00 and gave the company an "outperform" rating in a research note on Monday, July 29th. JPMorgan Chase & Co. lifted their price objective on Baker Hughes from $42.00 to $43.00 and gave the stock an "overweight" rating in a report on Monday, July 29th. Argus upgraded Baker Hughes from a "hold" rating to a "buy" rating in a research note on Friday, October 25th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $43.00 price target on shares of Baker Hughes in a research note on Thursday, October 24th. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $44.12.

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.