Littlejohn Financial Services Inc. Purchases Shares of 56,558 Baker Hughes Company $BKR

Littlejohn Financial Services Inc. purchased a new stake in Baker Hughes Company (NASDAQ:BKR) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 56,558 shares of the company’s stock, valued at approximately $2,756,000. Baker Hughes accounts for about 2.0% of Littlejohn Financial Services Inc.’s portfolio, making the stock its 12th largest position.

A number of other hedge funds have also recently made changes to their positions in BKR. Woodline Partners LP boosted its position in shares of Baker Hughes by 40.8% during the first quarter. Woodline Partners LP now owns 83,650 shares of the company’s stock worth $3,676,000 after buying an additional 24,225 shares during the period. Focus Partners Wealth lifted its stake in Baker Hughes by 5.6% during the 1st quarter. Focus Partners Wealth now owns 18,481 shares of the company’s stock worth $812,000 after acquiring an additional 986 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in Baker Hughes by 16.8% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 3,895 shares of the company’s stock valued at $149,000 after acquiring an additional 561 shares in the last quarter. Czech National Bank increased its stake in Baker Hughes by 6.5% during the second quarter. Czech National Bank now owns 242,174 shares of the company’s stock worth $9,285,000 after purchasing an additional 14,761 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Baker Hughes by 12.5% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 125,459 shares of the company’s stock worth $4,810,000 after purchasing an additional 13,960 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Trading Up 2.1%

Shares of BKR opened at $49.98 on Thursday. Baker Hughes Company has a twelve month low of $33.60 and a twelve month high of $51.12. 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 firm has a market capitalization of $49.32 billion, a P/E ratio of 17.23, a PEG ratio of 1.56 and a beta of 0.89. The firm’s 50-day moving average is $47.82 and its two-hundred day moving average is $45.90.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Thursday, October 23rd. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.06. Baker Hughes had a return on equity of 14.22% and a net margin of 10.43%.The business had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $6.81 billion. During the same quarter last year, the business posted $0.67 earnings per share. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, research analysts predict that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Tuesday, November 4th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, November 4th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.8%. Baker Hughes’s dividend payout ratio is currently 31.72%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on BKR shares. Royal Bank Of Canada increased their target price on shares of Baker Hughes from $50.00 to $54.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. Evercore ISI set a $54.00 target price on shares of Baker Hughes in a report on Monday, October 27th. Stifel Nicolaus lifted their price objective on shares of Baker Hughes from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. TD Cowen cut their target price on Baker Hughes from $57.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, January 7th. Finally, Citigroup boosted their price objective 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. 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, Baker Hughes presently has an average rating of “Moderate Buy” and a consensus price target of $53.92.

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.