Baker Hughes Company $BKR Shares Purchased by Valley National Advisers Inc.

Valley National Advisers Inc. grew its stake in shares of Baker Hughes Company (NASDAQ:BKR) by 48.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,024 shares of the company’s stock after purchasing an additional 13,757 shares during the quarter. Valley National Advisers Inc.’s holdings in Baker Hughes were worth $2,046,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Baker Hughes by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 123,291,916 shares of the company’s stock valued at $4,727,012,000 after buying an additional 1,173,700 shares during the last quarter. Geode Capital Management LLC boosted its stake in Baker Hughes by 1.6% in the second quarter. Geode Capital Management LLC now owns 25,875,670 shares of the company’s stock valued at $987,961,000 after acquiring an additional 397,984 shares in the last quarter. Norges Bank purchased a new position in shares of Baker Hughes during the second quarter worth about $862,722,000. Artisan Partners Limited Partnership grew its holdings in shares of Baker Hughes by 1.0% during the second quarter. Artisan Partners Limited Partnership now owns 16,677,718 shares of the company’s stock worth $639,424,000 after purchasing an additional 167,095 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Baker Hughes by 18.9% during the second quarter. Invesco Ltd. now owns 12,834,534 shares of the company’s stock worth $492,076,000 after purchasing an additional 2,044,402 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Evercore ISI set a $54.00 target price on Baker Hughes in a research report on Monday, October 27th. Jefferies Financial Group lifted their price target on Baker Hughes from $58.00 to $59.00 and gave the stock a “buy” rating in a research report on Thursday, November 20th. Capital One Financial increased their price objective on Baker Hughes from $49.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, September 16th. Cowen restated a “buy” rating on shares of Baker Hughes in a research report on Monday, October 27th. Finally, Citigroup lifted their target price on shares of Baker Hughes from $55.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Twenty-three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $53.92.

Baker Hughes Stock Down 0.1%

Baker Hughes stock opened at $45.25 on Friday. The stock has a 50 day moving average of $47.70 and a two-hundred day moving average of $45.05. Baker Hughes Company has a twelve month low of $33.60 and a twelve month high of $51.12. The stock has a market capitalization of $44.65 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 1.64 and a beta of 0.90. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Friday, November 18th. The company reported $0.16 EPS for the quarter. Baker Hughes had a return on equity of 14.22% and a net margin of 10.43%.The business had revenue of $5.09 billion during the quarter. As a group, research analysts expect that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Tuesday, November 4th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Tuesday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is 31.72%.

About Baker Hughes

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm’s roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE’s oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.