Baker Hughes (NASDAQ:BKR) Shares Purchased by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC increased its position in shares of Baker Hughes (NASDAQ:BKR) by 4.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 33,758 shares of the company’s stock after purchasing an additional 1,549 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Baker Hughes were worth $1,220,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bridges Investment Management Inc. raised its holdings in Baker Hughes by 3.1% during the third quarter. Bridges Investment Management Inc. now owns 9,203 shares of the company’s stock worth $333,000 after purchasing an additional 273 shares during the last quarter. UMB Bank n.a. increased 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. Graypoint LLC increased its position in Baker Hughes by 3.0% during the third quarter. Graypoint LLC now owns 10,288 shares of the company’s stock worth $372,000 after buying an additional 301 shares in the last quarter. First Trust Direct Indexing L.P. increased its position in Baker Hughes by 1.4% during the third quarter. First Trust Direct Indexing L.P. now owns 29,841 shares of the company’s stock worth $1,079,000 after buying an additional 398 shares in the last quarter. Finally, Hantz Financial Services Inc. increased its position in Baker Hughes by 4.6% during the third quarter. Hantz Financial Services Inc. now owns 9,027 shares of the company’s stock worth $326,000 after buying an additional 401 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 opened at $42.15 on Friday. The firm has a market capitalization of $41.71 billion, a PE ratio of 18.90, a P/E/G ratio of 0.72 and a beta of 1.40. 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 business has a 50-day moving average of $40.55 and a two-hundred day moving average of $36.70. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $45.17.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, topping the consensus estimate 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 13.77% and a net margin of 8.20%. The firm’s revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.42 earnings per share. As a group, research analysts forecast that Baker Hughes will post 2.29 earnings per share for the current year.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes’s payout ratio is 37.67%.

Analysts Set New Price Targets

BKR has been the subject of several recent research reports. Barclays raised their price target on Baker Hughes from $41.00 to $46.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. BMO Capital Markets raised their price target on Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Wells Fargo & Company raised Baker Hughes from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $40.00 to $42.00 in a research report on Wednesday, September 25th. Susquehanna raised their price target on Baker Hughes from $46.00 to $48.00 and gave the stock a “positive” rating in a research report on Thursday, October 24th. Finally, Benchmark reissued a “buy” rating and set a $42.00 price target on shares of Baker Hughes in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $45.12.

Baker Hughes 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.