Capital Performance Advisors LLP Makes New $103,000 Investment in Baker Hughes (NASDAQ:BKR)

Capital Performance Advisors LLP acquired a new stake in shares of Baker Hughes (NASDAQ:BKR) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,846 shares of the company’s stock, valued at approximately $103,000.

Other institutional investors have also made changes to their positions in the company. New Covenant Trust Company N.A. acquired a new position in Baker Hughes during the 1st quarter worth $34,000. Alta Advisers Ltd bought a new stake in Baker Hughes during the 2nd quarter valued at approximately $42,000. Headlands Technologies LLC acquired a new stake in Baker Hughes in the 2nd quarter valued at approximately $48,000. Quarry LP increased its position in Baker Hughes by 81.1% in the 2nd quarter. Quarry LP now owns 1,594 shares of the company’s stock worth $56,000 after buying an additional 714 shares during the period. Finally, UMB Bank n.a. lifted its holdings in shares of 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 during the last quarter. 92.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BKR has been the topic of several research analyst reports. UBS Group lowered their price objective on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. Piper Sandler dropped their price objective on shares of Baker Hughes from $45.00 to $44.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Wells Fargo & Company raised shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $40.00 to $42.00 in a research report on Wednesday, September 25th. Royal Bank of Canada restated an “outperform” rating and set a $43.00 price target on shares of Baker Hughes in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. raised their price objective on Baker Hughes from $42.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. 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 an average rating of “Moderate Buy” and a consensus price target of $44.12.

Baker Hughes Stock Down 0.2 %

Shares of NASDAQ BKR opened at $43.02 on Friday. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $43.67. 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 business has a fifty day moving average of $36.41 and a two-hundred day moving average of $34.76. The stock has a market cap of $42.56 billion, a PE ratio of 19.29, a PEG ratio of 0.65 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.06. The firm had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.21 billion. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period last year, the firm posted $0.42 EPS. As a group, equities research analysts expect that Baker Hughes will post 2.28 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 4th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend is Monday, November 4th. Baker Hughes’s payout ratio is currently 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.