Baker Hughes (NASDAQ:BKR) Shares Acquired by Profund Advisors LLC

Profund Advisors LLC raised its holdings in shares of Baker Hughes (NASDAQ:BKR) by 2.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 143,233 shares of the company’s stock after buying an additional 3,499 shares during the period. Profund Advisors LLC’s holdings in Baker Hughes were worth $5,038,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in BKR. Price T Rowe Associates Inc. MD boosted its holdings in Baker Hughes by 32.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock worth $581,729,000 after buying an additional 4,207,973 shares in the last quarter. Cardano Risk Management B.V. bought a new stake in Baker Hughes during the first quarter worth approximately $117,083,000. Goldman Sachs Group Inc. boosted its holdings in Baker Hughes by 47.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 5,635,875 shares of the company’s stock worth $192,634,000 after buying an additional 1,822,487 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in Baker Hughes by 31.6% during the fourth quarter. Hsbc Holdings PLC now owns 2,929,834 shares of the company’s stock worth $100,153,000 after buying an additional 702,788 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Baker Hughes by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock worth $348,074,000 after buying an additional 680,621 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on BKR shares. The Goldman Sachs Group raised their target price on shares of Baker Hughes from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Jefferies Financial Group raised their price objective on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Royal Bank of Canada raised their price objective on shares of Baker Hughes from $39.00 to $43.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Benchmark reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Baker Hughes in a research note on Friday, July 26th. Finally, Evercore ISI raised their price objective on shares of Baker Hughes from $42.00 to $46.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Baker Hughes currently has an average rating of “Moderate Buy” and an average target price of $43.19.

Baker Hughes Trading Down 0.9 %

Shares of NASDAQ:BKR opened at $36.04 on Friday. The firm has a fifty day moving average of $35.19 and a two-hundred day moving average of $33.68. The firm has a market capitalization of $35.97 billion, a P/E ratio of 20.13, a price-to-earnings-growth ratio of 0.54 and a beta of 1.38. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $39.05. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 0.37.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.08. The business had revenue of $7.10 billion for the quarter, compared to the consensus estimate of $6.81 billion. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. Baker Hughes’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.39 EPS. On average, equities analysts expect that Baker Hughes will post 2.24 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

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

Insider Activity

In other news, CEO Lorenzo Simonelli sold 114,286 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $35.00, for a total transaction of $4,000,010.00. Following the transaction, the chief executive officer now owns 502,053 shares in the company, valued at approximately $17,571,855. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is owned by insiders.

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.