20,912 Baker Hughes Company $BKR Shares Bought by Farther Finance Advisors LLC

Key Points

• Farther Finance Advisors increased its Baker Hughes stake by 149.3% in the third quarter, acquiring 20,912 additional shares and bringing its holdings to 34,919 shares valued at approximately $1.92 million.
• Institutional investors own 92.06% of Baker Hughes, while analysts maintain a “Moderate Buy” consensus with an average price target of $72.24.
• Baker Hughes exceeded quarterly earnings and revenue expectations, reporting $0.64 EPS and $6.74 billion in revenue; it also declared a $0.23 quarterly dividend, equal to a 1.7% annual yield.

Farther Finance Advisors LLC raised its stake in Baker Hughes Company (NASDAQ:BKR - Free Report) by 149.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,919 shares of the company's stock after acquiring an additional 20,912 shares during the quarter. Farther Finance Advisors LLC's holdings in Baker Hughes were worth $1,917,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BKR. Amundi increased its position in Baker Hughes by 28.2% during the first quarter. Amundi now owns 10,946,464 shares of the company's stock worth $668,282,000 after purchasing an additional 2,409,978 shares during the last quarter. Advent International L.P. acquired a new stake in Baker Hughes during the first quarter valued at approximately $72,309,000. Vaughan Nelson Investment Management L.P. acquired a new stake in Baker Hughes during the first quarter valued at approximately $44,328,000. Baird Financial Group Inc. lifted its holdings in Baker Hughes by 341.0% during the 2nd quarter. Baird Financial Group Inc. now owns 731,926 shares of the company's stock worth $40,622,000 after buying an additional 565,947 shares during the last quarter. Finally, Rokos Capital Management LLP bought a new position in Baker Hughes during the 1st quarter worth approximately $33,302,000. Hedge funds and other institutional investors own 92.06% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on BKR. Citigroup lifted their target price on Baker Hughes from $74.00 to $75.00 and gave the stock a "buy" rating in a research report on Wednesday, July 8th. Piper Sandler upped their price target on Baker Hughes from $71.00 to $73.00 and gave the company an "overweight" rating in a research report on Tuesday, July 28th. Royal Bank Of Canada raised their price objective on Baker Hughes from $71.00 to $76.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 25th. Zacks Research upgraded Baker Hughes from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 16th. Finally, UBS Group decreased their price objective on shares of Baker Hughes from $72.00 to $69.00 and set a "neutral" rating for the company in a report on Wednesday, September 30th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $72.24.

Baker Hughes Stock Performance

Shares of NASDAQ BKR opened at $55.37 on Thursday. Baker Hughes Company has a 1 year low of $44.22 and a 1 year high of $70.41. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.76 and a current ratio of 2.09. The stock has a fifty day moving average price of $60.12 and a two-hundred day moving average price of $60.89. The firm has a market cap of $54.96 billion, a P/E ratio of 17.86, a PEG ratio of 2.68 and a beta of 1.04.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its earnings results on Monday, July 27th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.13. Baker Hughes had a return on equity of 13.85% and a net margin of 11.17%. The business had revenue of $6.74 billion during the quarter, compared to analysts' expectations of $6.54 billion. During the same quarter last year, the business posted $0.63 earnings per share. The company's quarterly revenue was up 2.4% on a year-over-year basis. Research analysts forecast that Baker Hughes Company will post 2.58 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Friday, August 7th were given a $0.23 dividend. The ex-dividend date was Friday, August 7th. This represents a $0.92 annualized dividend and a yield of 1.7%. Baker Hughes's payout ratio is 29.68%.

About Baker Hughes

Baker Hughes Company NASDAQ: BKR is an energy technology company that provides equipment, services and digital solutions to oil and gas producers, industrial companies and other energy customers. Its offerings support activities across the energy value chain, including exploration and production, drilling, well construction, production optimization, and the transportation and processing of hydrocarbons.

The company supplies oilfield services and equipment such as drilling systems, well-completion technologies, artificial-lift systems, subsea production equipment and well-intervention services.

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