Affinity Investment Advisors LLC Takes $246,000 Position in Baker Hughes (NASDAQ:BKR)

Affinity Investment Advisors LLC purchased a new stake in Baker Hughes (NASDAQ:BKR) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 6,811 shares of the company’s stock, valued at approximately $246,000.

Other large investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its position in shares of Baker Hughes by 32.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock valued at $581,729,000 after buying an additional 4,207,973 shares in the last quarter. Legal & General Group Plc grew its stake in Baker Hughes by 8.6% in the 2nd quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock valued at $306,801,000 after acquiring an additional 692,859 shares during the period. Dimensional Fund Advisors LP increased its holdings in Baker Hughes by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock worth $348,074,000 after acquiring an additional 680,621 shares in the last quarter. Clearbridge Investments LLC raised its position in Baker Hughes by 10.2% during the first quarter. Clearbridge Investments LLC now owns 6,609,115 shares of the company’s stock worth $221,405,000 after acquiring an additional 612,715 shares during the period. Finally, Intermede Investment Partners Ltd lifted its holdings in Baker Hughes by 16.5% during the first quarter. Intermede Investment Partners Ltd now owns 4,284,361 shares of the company’s stock valued at $143,526,000 after purchasing an additional 606,671 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Trading Down 0.6 %

Shares of Baker Hughes stock opened at $37.85 on Friday. The stock has a 50 day moving average of $35.98 and a 200 day moving average of $34.53. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30. The firm has a market capitalization of $37.60 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 0.64 and a beta of 1.38. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $39.05.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The firm had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.21 billion. During the same period last year, the company earned $0.42 EPS. The company’s quarterly revenue was up 4.0% on a year-over-year basis. As a group, research analysts predict that Baker Hughes will post 2.28 earnings per share for the current year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 4th will be issued a $0.21 dividend. The ex-dividend date is Monday, November 4th. This represents a $0.84 annualized dividend and a dividend yield of 2.22%. Baker Hughes’s dividend payout ratio is currently 37.67%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on BKR shares. Piper Sandler reduced their price target on shares of Baker Hughes from $45.00 to $44.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. BMO Capital Markets lifted their price target on Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. TD Cowen boosted their price target on Baker Hughes from $46.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Benchmark restated a “buy” rating and issued a $42.00 price objective on shares of Baker Hughes in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. upped their target price on shares of Baker Hughes from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, Baker Hughes currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.12.

Insider Buying and Selling

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $35.00, for a total value of $4,000,010.00. Following the sale, the chief executive officer now owns 502,053 shares of the company’s stock, valued at $17,571,855. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is currently owned by corporate insiders.

About Baker Hughes

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.