BRR OpCo LLC reduced its position in Baker Hughes (NASDAQ:BKR – Get Rating) by 25.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,589 shares of the company's stock after selling 19,530 shares during the quarter. BRR OpCo LLC's holdings in Baker Hughes were worth $1,186,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. SeaCrest Wealth Management LLC purchased a new position in Baker Hughes in the second quarter valued at about $27,000. Alpha Paradigm Partners LLC purchased a new stake in Baker Hughes during the second quarter valued at approximately $29,000. Hallmark Capital Management Inc. acquired a new stake in Baker Hughes in the second quarter valued at approximately $31,000. Evoke Wealth LLC boosted its stake in Baker Hughes by 276.1% in the second quarter. Evoke Wealth LLC now owns 1,557 shares of the company's stock valued at $45,000 after acquiring an additional 1,143 shares in the last quarter. Finally, Ameliora Wealth Management Ltd. acquired a new position in shares of Baker Hughes during the third quarter worth $47,000. 97.40% of the stock is owned by hedge funds and other institutional investors.
Get Baker Hughes alerts:Baker Hughes Stock Performance
Shares of BKR stock traded up $0.03 during mid-day trading on Friday, hitting $31.42. 3,453,921 shares of the company's stock were exchanged, compared to its average volume of 6,323,214. Baker Hughes has a fifty-two week low of $20.42 and a fifty-two week high of $39.78. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.32 and a quick ratio of 0.90. The stock has a 50-day simple moving average of $29.67 and a two-hundred day simple moving average of $26.97.
Baker Hughes (NASDAQ:BKR – Get Rating) last released its quarterly earnings data on Monday, January 23rd. The company reported $0.38 EPS for the quarter, missing analysts' consensus estimates of $0.40 by ($0.02). Baker Hughes had a positive return on equity of 5.98% and a negative net margin of 2.85%. The firm had revenue of $5.91 billion for the quarter, compared to analyst estimates of $6.07 billion. During the same quarter in the previous year, the company earned $0.25 earnings per share. The company's quarterly revenue was up 7.7% on a year-over-year basis. As a group, analysts predict that Baker Hughes will post 1.59 earnings per share for the current fiscal year.Baker Hughes Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 17th. Shareholders of record on Monday, February 6th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend is Friday, February 3rd. Baker Hughes's dividend payout ratio is currently -126.67%.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the company. Bank of America raised their price objective on Baker Hughes from $31.00 to $32.00 and gave the stock a "buy" rating in a research report on Thursday, October 20th. Jefferies Financial Group initiated coverage on shares of Baker Hughes in a research note on Wednesday, October 19th. They set a "buy" rating and a $35.00 price target on the stock. Wells Fargo & Company lowered shares of Baker Hughes from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $32.00 to $29.00 in a report on Wednesday, October 26th. They noted that the move was a valuation call. Barclays raised their target price on Baker Hughes from $38.00 to $42.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 25th. Finally, Susquehanna increased their price objective on Baker Hughes from $35.00 to $40.00 and gave the company a "positive" rating in a report on Tuesday, January 24th. One analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $36.21.
Insider Buying and Selling
In related news, EVP Maria C. Borras sold 9,811 shares of the business's stock in a transaction dated Tuesday, January 31st. The shares were sold at an average price of $30.93, for a total transaction of $303,454.23. Following the completion of the sale, the executive vice president now owns 59,463 shares of the company's stock, valued at approximately $1,839,190.59. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Gregory D. Brenneman sold 85,000 shares of the company's stock in a transaction on Friday, November 11th. The stock was sold at an average price of $31.23, for a total value of $2,654,550.00. Following the completion of the sale, the director now owns 16,842 shares in the company, valued at $525,975.66. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Maria C. Borras sold 9,811 shares of the stock in a transaction that occurred on Tuesday, January 31st. The shares were sold at an average price of $30.93, for a total transaction of $303,454.23. Following the sale, the executive vice president now directly owns 59,463 shares of the company's stock, valued at $1,839,190.59. The disclosure for this sale can be found here. Over the last three months, insiders sold 295,114 shares of company stock worth $9,120,434. Corporate insiders own 0.29% of the company's stock.
Baker Hughes Company Profile
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Baker Hughes Co is a holding company. The firm engages in the provision of oilfield products, services, and digital solutions. It operates through the following segments: Oilfield Services (OFS), Oilfield Equipment (OFE), Turbomachinery & Process Solutions (TPS) and Digital Solutions (DS). The OFS segment provides products and services for on and offshore operations across the lifecycle of a well, ranging from drilling, evaluation, completion, production, and intervention.
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