Stephens Investment Management Group LLC Buys 21,048 Shares of Baker Hughes Company $BKR

Stephens Investment Management Group LLC boosted its stake in Baker Hughes Company (NASDAQ:BKR) by 6.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 369,342 shares of the company’s stock after purchasing an additional 21,048 shares during the period. Stephens Investment Management Group LLC’s holdings in Baker Hughes were worth $17,994,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of BKR. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of Baker Hughes by 104.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock worth $32,000 after purchasing an additional 337 shares during the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in Baker Hughes during the second quarter valued at $36,000. Harbour Investments Inc. increased its position in Baker Hughes by 61.7% in the second quarter. Harbour Investments Inc. now owns 854 shares of the company’s stock worth $33,000 after buying an additional 326 shares during the last quarter. LFA Lugano Financial Advisors SA bought a new stake in shares of Baker Hughes in the second quarter valued at $36,000. Finally, Spire Wealth Management raised its stake in shares of Baker Hughes by 357.8% in the third quarter. Spire Wealth Management now owns 1,021 shares of the company’s stock valued at $50,000 after buying an additional 798 shares during the period. 92.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Baker Hughes from $52.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, September 30th. Citigroup increased their target price on shares of Baker Hughes from $55.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Stifel Nicolaus boosted their price target on shares of Baker Hughes from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, October 27th. HSBC raised their price objective on shares of Baker Hughes from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, October 27th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Baker Hughes in a research note on Monday, December 29th. Twenty-three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $54.04.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $51.78 on Friday. The company has a 50 day moving average of $47.99 and a 200 day moving average of $46.09. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. The stock has a market cap of $51.10 billion, a P/E ratio of 17.86, a P/E/G ratio of 1.64 and a beta of 0.89. Baker Hughes Company has a 12 month low of $33.60 and a 12 month high of $52.33.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Thursday, October 23rd. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.62 by $0.06. The firm had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $6.81 billion. Baker Hughes had a net margin of 10.43% and a return on equity of 14.22%. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period last year, the firm earned $0.67 EPS. As a group, sell-side analysts forecast that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Tuesday, November 4th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.8%. The ex-dividend date was Tuesday, November 4th. Baker Hughes’s payout ratio is presently 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.