Stephens Investment Management Group LLC Boosts Stake in Baker Hughes (NASDAQ:BKR)

Stephens Investment Management Group LLC lifted its stake in Baker Hughes (NASDAQ:BKR - Free Report) by 8.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 400,603 shares of the company's stock after acquiring an additional 31,852 shares during the period. Stephens Investment Management Group LLC's holdings in Baker Hughes were worth $14,482,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. New Covenant Trust Company N.A. bought a new stake in Baker Hughes during the 1st quarter worth approximately $34,000. Alta Advisers Ltd bought a new position in shares of Baker Hughes in the second quarter worth $42,000. Headlands Technologies LLC purchased a new stake in shares of Baker Hughes in the second quarter worth $48,000. Quarry LP boosted its stake in Baker Hughes by 81.1% during the second quarter. Quarry LP now owns 1,594 shares of the company's stock valued at $56,000 after buying an additional 714 shares during the period. Finally, UMB Bank n.a. grew its position in Baker Hughes by 18.4% during the second quarter. UMB Bank n.a. now owns 1,873 shares of the company's stock worth $66,000 after buying an additional 291 shares in the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Baker Hughes Trading Down 0.6 %

NASDAQ:BKR traded down $0.23 during midday trading on Friday, reaching $37.85. 7,921,211 shares of the stock traded hands, compared to its average volume of 7,227,976. The stock has a market capitalization of $37.60 billion, a P/E ratio of 16.97, a PEG ratio of 0.64 and a beta of 1.38. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $39.05. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30. The company has a fifty day moving average of $35.98 and a 200 day moving average of $34.54.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share 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 net margin of 8.20% and a return on equity of 13.77%. Baker Hughes's revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 earnings per share. On average, research analysts predict that Baker Hughes will post 2.28 EPS for the current year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors 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 yield of 2.22%. The ex-dividend date is Monday, November 4th. Baker Hughes's payout ratio is 37.67%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BKR. Susquehanna lifted their price target on Baker Hughes from $46.00 to $48.00 and gave the company a "positive" rating in a research report on Thursday, October 24th. BMO Capital Markets boosted their price target on shares of Baker Hughes from $43.00 to $45.00 and gave the stock an "outperform" rating in a research note on Thursday, October 10th. Piper Sandler lowered their price objective on shares of Baker Hughes from $45.00 to $44.00 and set an "overweight" rating on the stock in a research report on Monday, July 15th. The Goldman Sachs Group upped their target price 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. Finally, Jefferies Financial Group raised their price target on Baker Hughes from $46.00 to $48.00 and gave the company a "buy" rating in a research report on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, Baker Hughes has a consensus rating of "Moderate Buy" and an average target price of $44.12.

Insider Activity at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 114,286 shares of Baker Hughes 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 directly owns 502,053 shares in the company, valued at $17,571,855. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.25% of the stock is currently owned by company insiders.

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.