Macquarie Group Ltd. Increases Holdings in Baker Hughes (NASDAQ:BKR)

Macquarie Group Ltd. boosted its holdings in shares of Baker Hughes (NASDAQ:BKR – Get Rating) by 196.9% during the third quarter, Holdings Channel reports. The firm owned 98,548 shares of the company’s stock after acquiring an additional 65,355 shares during the quarter. Macquarie Group Ltd.’s holdings in Baker Hughes were worth $2,066,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Utah Retirement Systems increased its holdings in Baker Hughes by 25.7% during the 2nd quarter. Utah Retirement Systems now owns 165,051 shares of the company’s stock valued at $4,765,000 after purchasing an additional 33,700 shares during the period. CastleArk Alternatives LLC purchased a new position in Baker Hughes during the 2nd quarter valued at about $388,000. Guggenheim Capital LLC increased its holdings in Baker Hughes by 4.9% during the 3rd quarter. Guggenheim Capital LLC now owns 283,158 shares of the company’s stock valued at $5,935,000 after purchasing an additional 13,204 shares during the period. Mission Wealth Management LP increased its holdings in Baker Hughes by 4.2% during the 3rd quarter. Mission Wealth Management LP now owns 23,407 shares of the company’s stock valued at $491,000 after purchasing an additional 933 shares during the period. Finally, Pallas Capital Advisors LLC purchased a new position in Baker Hughes during the 3rd quarter valued at about $1,288,000. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Analysts Set New Price Targets

BKR has been the topic of a number of research analyst reports. HSBC upped their target price on Baker Hughes from $33.30 to $39.00 in a report on Monday, January 30th. Evercore ISI upped their target price on Baker Hughes from $33.00 to $37.00 and gave the stock an “outperform” rating in a report on Tuesday, January 24th. Piper Sandler upgraded Baker Hughes from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $34.00 to $43.00 in a report on Wednesday, February 15th. Benchmark initiated coverage on Baker Hughes in a report on Thursday, January 19th. They set a “buy” rating and a $36.00 target price on the stock. Finally, Susquehanna upped their target price on Baker Hughes from $35.00 to $40.00 and gave the stock a “positive” rating in a report on Tuesday, January 24th. One research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $36.68.

Baker Hughes Stock Performance

BKR stock opened at $29.07 on Friday. The stock has a market capitalization of $29.40 billion, a PE ratio of -48.45 and a beta of 1.46. Baker Hughes has a 12-month low of $20.42 and a 12-month high of $39.78. The company has a current ratio of 1.32, a quick ratio of 0.90 and a debt-to-equity ratio of 0.41. The stock’s 50 day simple moving average is $31.06 and its 200 day simple moving average is $28.11.

Baker Hughes (NASDAQ:BKR – Get Rating) last released its quarterly earnings data on Monday, January 23rd. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.02). The business had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $6.07 billion. Baker Hughes had a negative net margin of 2.85% and a positive return on equity of 5.98%. The business’s revenue was up 7.7% compared to the same quarter last year. During the same period last year, the company posted $0.25 earnings per share. As a group, research analysts forecast that Baker Hughes will post 1.57 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 17th. Investors of record on Monday, February 6th were given a $0.19 dividend. The ex-dividend date of this dividend was Friday, February 3rd. This represents a $0.76 annualized dividend and a yield of 2.61%. Baker Hughes’s dividend payout ratio (DPR) is presently -126.67%.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 9,811 shares of the business’s stock in a transaction on Tuesday, January 31st. The shares were sold at an average price of $30.93, for a total transaction of $303,454.23. Following the completion of the sale, the executive vice president now directly owns 59,463 shares in the company, valued at approximately $1,839,190.59. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.29% of the company’s stock.

Baker Hughes Profile

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Baker Hughes Co is a holding company, which engages in the provision of oilfield products, services, and digital solutions. It operates through the Oilfield Services and Equipment (OFSE) and industrial and Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides services for onshore and offshore oilfield operations.