Baker Hughes Company $BKR Shares Sold by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC decreased its stake in Baker Hughes Company (NASDAQ:BKR) by 9.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 96,844 shares of the company’s stock after selling 10,689 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in Baker Hughes were worth $5,317,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. MCF Advisors LLC grew its stake in shares of Baker Hughes by 121.4% during the 2nd quarter. MCF Advisors LLC now owns 476 shares of the company’s stock valued at $26,000 after acquiring an additional 261 shares during the period. Latitude Advisors LLC bought a new stake in Baker Hughes during the 3rd quarter worth approximately $27,000. Olistico Wealth LLC raised its stake in Baker Hughes by 209.4% during the 3rd quarter. Olistico Wealth LLC now owns 495 shares of the company’s stock worth $27,000 after acquiring an additional 335 shares during the period. Elevation Wealth Partners LLC raised its stake in Baker Hughes by 260.1% during the 3rd quarter. Elevation Wealth Partners LLC now owns 497 shares of the company’s stock worth $27,000 after acquiring an additional 359 shares during the period. Finally, Godsey & Gibb Inc. purchased a new position in Baker Hughes during the third quarter valued at approximately $33,000. Institutional investors own 92.06% of the company’s stock.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, Director John Rice bought 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 3rd. The stock was purchased at an average cost of $53.10 per share, with a total value of $531,000.00. Following the completion of the acquisition, the director owned 77,315 shares in the company, valued at $4,105,426.50. This trade represents a 14.86% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Jefferies Financial Group decreased their price objective on shares of Baker Hughes from $80.00 to $77.00 and set a “buy” rating on the stock in a research report on Tuesday, September 29th. Barclays dropped their target price on shares of Baker Hughes from $72.00 to $62.00 and set an “equal weight” rating for the company in a report on Thursday, October 29th. The Goldman Sachs Group began coverage on Baker Hughes in a research note on Tuesday, September 29th. They issued a “buy” rating and a $71.00 price target for the company. Citigroup cut their price target on Baker Hughes from $75.00 to $72.00 and set a “buy” rating for the company in a research note on Monday, October 19th. Finally, TD Cowen raised their price target on Baker Hughes from $76.00 to $77.00 and gave the company a “buy” rating in a report on Thursday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Baker Hughes currently has an average rating of “Moderate Buy” and a consensus price target of $70.27.

Baker Hughes Price Performance

NASDAQ:BKR opened at $47.77 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 0.90 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $47.44 billion, a P/E ratio of 16.47, a P/E/G ratio of 2.31 and a beta of 1.07. Baker Hughes Company has a 12 month low of $44.26 and a 12 month high of $70.41. The business’s 50-day moving average is $56.32 and its 200 day moving average is $59.97.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Tuesday, October 27th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.09. Baker Hughes had a return on equity of 13.55% and a net margin of 10.08%. The business had revenue of $8.03 billion during the quarter, compared to analysts’ expectations of $7.74 billion. During the same quarter last year, the business posted $0.68 EPS. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. On average, equities research analysts forecast that Baker Hughes Company will post 2.56 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Tuesday, November 10th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Tuesday, November 10th. Baker Hughes’s dividend payout ratio is currently 31.72%.

About Baker Hughes

Baker Hughes (NASDAQ: BKR) is an energy technology company that provides products and services to the oil and gas industry and other industrial markets. Its offerings include equipment and services used across the energy value chain, from exploration and production to transportation and processing. The company also develops turbomachinery, industrial equipment, digital technologies and solutions for energy and industrial applications. Its portfolio includes technologies designed to support more efficient operations and lower-emissions energy systems.