CenterBook Partners LP Purchases 30,612 Shares of Baker Hughes Company $BKR

CenterBook Partners LP raised its position in shares of Baker Hughes Company (NASDAQ:BKR) by 107.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,083 shares of the company’s stock after acquiring an additional 30,612 shares during the quarter. CenterBook Partners LP’s holdings in Baker Hughes were worth $3,244,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of BKR. Amundi raised its position in shares of Baker Hughes by 28.2% in the 1st quarter. Amundi now owns 10,946,464 shares of the company’s stock worth $668,282,000 after acquiring an additional 2,409,978 shares in the last quarter. First Trust Advisors LP grew its stake in Baker Hughes by 4.0% during the first quarter. First Trust Advisors LP now owns 9,663,737 shares of the company’s stock worth $589,971,000 after purchasing an additional 374,974 shares during the period. Bank of New York Mellon Corp increased its holdings in Baker Hughes by 1.8% in the first quarter. Bank of New York Mellon Corp now owns 6,738,599 shares of the company’s stock worth $411,391,000 after purchasing an additional 119,388 shares in the last quarter. Perpetual Ltd increased its holdings in Baker Hughes by 24.0% in the third quarter. Perpetual Ltd now owns 3,958,604 shares of the company’s stock worth $217,327,000 after purchasing an additional 765,582 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in Baker Hughes by 5.1% in the first quarter. Bank of America Corp DE now owns 3,837,618 shares of the company’s stock worth $234,287,000 after purchasing an additional 184,897 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on BKR shares. Morgan Stanley cut their price target on Baker Hughes from $70.00 to $68.00 and set an “overweight” rating on the stock in a report on Thursday, October 29th. Zacks Research downgraded shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Stifel Nicolaus lifted their price objective on shares of Baker Hughes from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Barclays dropped their target price on shares of Baker Hughes from $72.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 29th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Baker Hughes in a research report on Friday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $70.27.

Insider Transactions at Baker Hughes

In other Baker Hughes news, Director John Rice purchased 10,000 shares of the firm’s stock in a transaction on Tuesday, November 3rd. The stock was acquired at an average price of $53.10 per share, for a total transaction of $531,000.00. Following the purchase, the director owned 77,315 shares of the company’s stock, valued at $4,105,426.50. This trade represents a 14.86% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.19% of the company’s stock.

Baker Hughes Trading Up 3.6%

Shares of Baker Hughes stock opened at $47.87 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.90 and a current ratio of 1.24. Baker Hughes Company has a 52 week low of $44.26 and a 52 week high of $70.41. The stock has a 50 day moving average price of $56.92 and a two-hundred day moving average price of $60.03. The stock has a market capitalization of $47.52 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 2.28 and a beta of 1.07.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Tuesday, October 27th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.61 by $0.09. Baker Hughes had a return on equity of 13.55% and a net margin of 10.08%. The firm had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.74 billion. During the same quarter in the previous year, the company posted $0.68 earnings per share. The company’s quarterly revenue was up 14.5% on a year-over-year basis. As a group, equities analysts anticipate that Baker Hughes Company will post 2.56 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Tuesday, November 10th will be given a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $0.92 annualized dividend and a yield of 1.9%. Baker Hughes’s dividend payout ratio (DPR) is presently 31.72%.

About Baker Hughes

Baker Hughes (NASDAQ: BKR) is an energy technology company that provides products and services to the oil and gas industry and other industrial markets. Its offerings include equipment and services used across the energy value chain, from exploration and production to transportation and processing.

The company also develops turbomachinery, industrial equipment, digital technologies and solutions for energy and industrial applications. Its portfolio includes technologies designed to support more efficient operations and lower-emissions energy systems.

Baker Hughes serves customers around the world.