Alpha DNA Investment Management LLC Trims Holdings in Baker Hughes (NASDAQ:BKR)

Alpha DNA Investment Management LLC decreased its stake in shares of Baker Hughes (NASDAQ:BKR) by 16.1% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 23,077 shares of the company’s stock after selling 4,421 shares during the period. Alpha DNA Investment Management LLC’s holdings in Baker Hughes were worth $834,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Ashton Thomas Securities LLC bought a new position in Baker Hughes in the 3rd quarter valued at $30,000. New Covenant Trust Company N.A. bought a new stake in Baker Hughes during the first quarter valued at $34,000. Alta Advisers Ltd purchased a new position in Baker Hughes during the second quarter worth about $42,000. Headlands Technologies LLC bought a new position in Baker Hughes in the 2nd quarter worth about $48,000. Finally, Quarry LP raised its holdings in shares of Baker Hughes by 81.1% in the 2nd quarter. Quarry LP now owns 1,594 shares of the company’s stock valued at $56,000 after acquiring an additional 714 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on BKR. The Goldman Sachs Group boosted their price objective on Baker Hughes from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Barclays boosted their price target on shares of Baker Hughes from $41.00 to $46.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Morgan Stanley increased their price target on shares of Baker Hughes from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, October 3rd. Benchmark reaffirmed a “buy” rating and set a $42.00 price objective on shares of Baker Hughes in a report on Thursday, October 24th. Finally, Jefferies Financial Group increased their target price on Baker Hughes from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $44.59.

Baker Hughes Price Performance

BKR opened at $44.25 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. The stock’s 50 day simple moving average is $38.54 and its 200 day simple moving average is $35.63. The firm has a market cap of $43.79 billion, a price-to-earnings ratio of 19.84, a PEG ratio of 0.76 and a beta of 1.38. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $45.17.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.06. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The firm had revenue of $6.91 billion for the quarter, compared to analysts’ expectations of $7.21 billion. During the same quarter last year, the business earned $0.42 earnings per share. The business’s revenue was up 4.0% on a year-over-year basis. As a group, analysts predict that Baker Hughes will post 2.29 earnings per share for the current year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date was Monday, November 4th. Baker Hughes’s payout ratio is 37.67%.

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.