Baker Hughes (NASDAQ:BKR) Shares Acquired by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc lifted its position in Baker Hughes (NASDAQ:BKR) by 15.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,208,851 shares of the company’s stock after acquiring an additional 163,477 shares during the period. Ensign Peak Advisors Inc’s holdings in Baker Hughes were worth $42,515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Redmont Wealth Advisors LLC acquired a new stake in Baker Hughes during the 1st quarter worth $27,000. New Covenant Trust Company N.A. acquired a new position in Baker Hughes during the first quarter worth about $34,000. Alta Advisers Ltd purchased a new stake in Baker Hughes during the 2nd quarter valued at about $42,000. Headlands Technologies LLC acquired a new stake in Baker Hughes in the 2nd quarter valued at about $48,000. Finally, UMB Bank n.a. lifted its stake in Baker Hughes by 281.2% in the 1st quarter. UMB Bank n.a. now owns 1,582 shares of the company’s stock worth $53,000 after purchasing an additional 1,167 shares in the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Evercore ISI lifted their price objective on Baker Hughes from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Jefferies Financial Group lifted their price target on Baker Hughes from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, July 29th. JPMorgan Chase & Co. upped their price objective on shares of Baker Hughes from $42.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Bank of America cut their price objective on shares of Baker Hughes from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Finally, Piper Sandler decreased their target price 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. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Baker Hughes presently has an average rating of “Moderate Buy” and an average price target of $43.19.

Baker Hughes Stock Performance

Shares of Baker Hughes stock opened at $36.04 on Friday. The stock has a market capitalization of $35.97 billion, a price-to-earnings ratio of 20.13, a price-to-earnings-growth ratio of 0.54 and a beta of 1.38. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 0.86. The business has a 50-day moving average of $35.19 and a 200 day moving average of $33.68. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $39.05.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.49 by $0.08. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The business had revenue of $7.10 billion during the quarter, compared to analyst estimates of $6.81 billion. During the same quarter last year, the firm posted $0.39 earnings per share. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Baker Hughes will post 2.24 earnings per share for the current year.

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Tuesday, August 6th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend was Tuesday, August 6th. Baker Hughes’s payout ratio is currently 46.93%.

Insider Activity at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $38.55, for a total value of $4,405,725.30. Following the sale, the chief executive officer now owns 616,339 shares of the company’s stock, valued at approximately $23,759,868.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is currently owned by company insiders.

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.