Baker Hughes Company $BKR Shares Acquired by Ninety One UK Ltd

Ninety One UK Ltd increased its position in shares of Baker Hughes Company (NASDAQ:BKR) by 36.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 767,255 shares of the company’s stock after purchasing an additional 205,664 shares during the period. Ninety One UK Ltd’s holdings in Baker Hughes were worth $42,122,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in BKR. State of Alaska Department of Revenue lifted its position in shares of Baker Hughes by 24.1% in the 3rd quarter. State of Alaska Department of Revenue now owns 142,798 shares of the company’s stock worth $7,840,000 after buying an additional 27,700 shares during the last quarter. Turtle Creek Wealth Advisors LLC boosted its holdings in shares of Baker Hughes by 16.6% in the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 7,417 shares of the company’s stock valued at $407,000 after buying an additional 1,056 shares during the period. Viking Fund Management LLC grew its position in shares of Baker Hughes by 5.4% during the 3rd quarter. Viking Fund Management LLC now owns 137,000 shares of the company’s stock valued at $7,521,000 after buying an additional 7,000 shares during the last quarter. HBW Advisory Services LLC bought a new stake in shares of Baker Hughes during the 3rd quarter valued at about $253,000. Finally, Ashurst Perkins Coie Trust Co bought a new stake in shares of Baker Hughes during the 3rd quarter valued at about $91,000. 92.06% of the stock is currently owned by institutional investors.

Baker Hughes Stock Performance

NASDAQ:BKR traded down $1.56 during mid-day trading on Thursday, hitting $53.81. The stock had a trading volume of 3,696,435 shares, compared to its average volume of 8,673,271. The stock has a market capitalization of $53.42 billion, a price-to-earnings ratio of 17.36, a P/E/G ratio of 2.68 and a beta of 1.04. The company has a 50 day simple moving average of $60.12 and a 200-day simple moving average of $60.89. Baker Hughes Company has a 52 week low of $44.24 and a 52 week high of $70.41. The company has a current ratio of 2.09, a quick ratio of 1.76 and a debt-to-equity ratio of 0.77.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Monday, July 27th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.13. Baker Hughes had a net margin of 11.17% and a return on equity of 13.85%. The firm had revenue of $6.74 billion during the quarter, compared to analyst estimates of $6.54 billion. During the same period in the previous year, the business posted $0.63 EPS. Baker Hughes’s revenue was up 2.4% on a year-over-year basis. On average, research analysts expect that Baker Hughes Company will post 2.58 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Friday, August 7th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, August 7th. Baker Hughes’s payout ratio is 29.68%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Wolfe Research began coverage on shares of Baker Hughes in a report on Wednesday, July 8th. They issued an “outperform” rating and a $70.00 target price on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Baker Hughes in a research note on Friday, October 9th. UBS Group lowered their target price on Baker Hughes from $72.00 to $69.00 and set a “neutral” rating for the company in a report on Wednesday, September 30th. Morgan Stanley assumed coverage on Baker Hughes in a research report on Friday, August 7th. They set an “overweight” rating and a $70.00 price target on the stock. Finally, Piper Sandler increased their price target on Baker Hughes from $71.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $72.24.

Baker Hughes Profile

Baker Hughes Company (NASDAQ:BKR) is an energy technology company that provides equipment, services and digital solutions to oil and gas producers, industrial companies and other energy customers. Its offerings support activities across the energy value chain, including exploration and production, drilling, well construction, production optimization, and the transportation and processing of hydrocarbons.

The company supplies oilfield services and equipment such as drilling systems, well-completion technologies, artificial-lift systems, subsea production equipment and well-intervention services.