Profund Advisors LLC Grows Stake in Baker Hughes Company $BKR

Profund Advisors LLC increased its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 7.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 122,813 shares of the company’s stock after acquiring an additional 8,529 shares during the quarter. Profund Advisors LLC’s holdings in Baker Hughes were worth $4,709,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. N.E.W. Advisory Services LLC purchased a new position in shares of Baker Hughes in the 1st quarter valued at $30,000. Harbour Investments Inc. lifted its holdings in shares of Baker Hughes by 61.7% in the 2nd quarter. Harbour Investments Inc. now owns 854 shares of the company’s stock valued at $33,000 after purchasing an additional 326 shares during the last quarter. LFA Lugano Financial Advisors SA acquired a new stake in shares of Baker Hughes in the 2nd quarter valued at about $36,000. LRI Investments LLC boosted its holdings in shares of Baker Hughes by 59.3% in the second quarter. LRI Investments LLC now owns 1,032 shares of the company’s stock valued at $40,000 after acquiring an additional 384 shares during the period. Finally, Hilltop National Bank purchased a new position in shares of Baker Hughes during the second quarter worth approximately $43,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Insider Buying and Selling at Baker Hughes

In other news, CAO Rebecca L. Charlton sold 1,000 shares of the business’s stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total value of $50,000.00. Following the completion of the transaction, the chief accounting officer directly owned 11,772 shares of the company’s stock, valued at $588,600. The trade was a 7.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Sreeganesh Ramaswamy sold 25,000 shares of the stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total value of $1,250,000.00. Following the sale, the executive vice president directly owned 40,520 shares in the company, valued at approximately $2,026,000. The trade was a 38.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BKR. Royal Bank Of Canada raised their price objective on shares of Baker Hughes from $50.00 to $54.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Evercore ISI set a $54.00 price target on Baker Hughes in a research report on Monday, October 27th. JPMorgan Chase & Co. increased their price objective on Baker Hughes from $52.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 30th. HSBC boosted their price objective on shares of Baker Hughes from $54.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, October 27th. Finally, Zephirin Group boosted their price target on shares of Baker Hughes from $37.00 to $40.00 and gave the stock a “hold” rating in a research note on Thursday, October 2nd. Twenty-three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Baker Hughes has a consensus rating of “Moderate Buy” and an average price target of $53.29.

Baker Hughes Stock Up 1.2%

Baker Hughes stock opened at $47.87 on Monday. The firm has a market capitalization of $47.24 billion, a price-to-earnings ratio of 16.51, a price-to-earnings-growth ratio of 2.06 and a beta of 1.03. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41. Baker Hughes Company has a fifty-two week low of $33.60 and a fifty-two week high of $50.92. The stock’s fifty day moving average is $47.23 and its two-hundred day moving average is $42.47.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Friday, November 18th. The company reported $0.16 earnings per share for the quarter. The firm had revenue of $5.09 billion during the quarter. Baker Hughes had a net margin of 10.43% and a return on equity of 14.22%. Analysts predict that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Tuesday, November 4th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, November 4th. 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 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.