Baker Hughes Company $BKR Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. lessened its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 24.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 76,871 shares of the company’s stock after selling 24,422 shares during the quarter. QRG Capital Management Inc.’s holdings in Baker Hughes were worth $3,745,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Evergreen Capital Management LLC lifted its position in Baker Hughes by 13.6% during the third quarter. Evergreen Capital Management LLC now owns 10,586 shares of the company’s stock worth $516,000 after buying an additional 1,270 shares during the period. Minneapolis Portfolio Management Group LLC increased its stake in shares of Baker Hughes by 1.5% during the 3rd quarter. Minneapolis Portfolio Management Group LLC now owns 579,885 shares of the company’s stock valued at $28,252,000 after acquiring an additional 8,438 shares during the last quarter. Stephens Investment Management Group LLC lifted its holdings in shares of Baker Hughes by 6.0% during the 3rd quarter. Stephens Investment Management Group LLC now owns 369,342 shares of the company’s stock worth $17,994,000 after acquiring an additional 21,048 shares during the period. Wilmington Savings Fund Society FSB boosted its position in shares of Baker Hughes by 16.1% in the third quarter. Wilmington Savings Fund Society FSB now owns 3,708 shares of the company’s stock worth $181,000 after acquiring an additional 513 shares during the last quarter. Finally, Littlejohn Financial Services Inc. purchased a new stake in Baker Hughes in the third quarter valued at approximately $2,756,000. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Citigroup increased their price target on shares of Baker Hughes from $55.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. UBS Group increased their target price on Baker Hughes from $48.00 to $54.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. Bank of America lifted their target price on Baker Hughes from $52.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, October 14th. HSBC upped their price target on Baker Hughes from $54.00 to $56.00 and gave the stock a “buy” rating in a research note on Monday, October 27th. Finally, Weiss Ratings reaffirmed 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 given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $54.04.

Baker Hughes Trading Down 0.4%

NASDAQ:BKR opened at $51.78 on Monday. The business’s 50-day moving average is $47.99 and its two-hundred day moving average is $46.14. The firm has a market capitalization of $51.10 billion, a PE ratio of 17.86, a price-to-earnings-growth 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. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Thursday, October 23rd. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.06. Baker Hughes had a return on equity of 14.22% and a net margin of 10.43%.The company had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $6.81 billion. During the same quarter in the prior year, the business earned $0.67 earnings per share. The company’s revenue was up 1.5% compared to the same quarter last year. Research analysts predict that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Tuesday, November 4th were given a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, November 4th. This represents a $0.92 annualized dividend and a yield of 1.8%. Baker Hughes’s dividend payout ratio (DPR) is 31.72%.

Baker Hughes Company Profile

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.