Baker Hughes Company $BKR Holdings Lifted by Park National Corp OH

Key Points

• Park National Corp OH increased its Baker Hughes stake by 150.9% in the third quarter, bringing its holdings to 169,142 shares valued at approximately $9.3 million. Institutional investors collectively own 92.06% of the company.
• Baker Hughes exceeded quarterly expectations, reporting EPS of $0.64 versus the $0.51 consensus and revenue of $6.74 billion, up 2.4% year over year.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $71.41, compared with a recent price of $57.43. The company also pays a quarterly dividend of $0.23, yielding about 1.6% annually.

Park National Corp OH increased its stake in Baker Hughes Company (NASDAQ:BKR - Free Report) by 150.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 169,142 shares of the company's stock after acquiring an additional 101,738 shares during the period. Park National Corp OH's holdings in Baker Hughes were worth $9,286,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Baker Tilly Wealth Management LLC acquired a new stake in shares of Baker Hughes in the 3rd quarter valued at about $212,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Baker Hughes by 22.8% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 8,985 shares of the company's stock valued at $493,000 after purchasing an additional 1,666 shares during the last quarter. CX Institutional grew its holdings in shares of Baker Hughes by 1,266.4% during the third quarter. CX Institutional now owns 138,934 shares of the company's stock valued at $7,756,000 after purchasing an additional 128,766 shares during the last quarter. GoalVest Advisory LLC raised its position in shares of Baker Hughes by 9.5% during the 3rd quarter. GoalVest Advisory LLC now owns 44,506 shares of the company's stock worth $2,460,000 after purchasing an additional 3,863 shares during the period. Finally, Versant Capital Management Inc lifted its holdings in shares of Baker Hughes by 32.4% in the 3rd quarter. Versant Capital Management Inc now owns 6,003 shares of the company's stock worth $330,000 after purchasing an additional 1,468 shares during the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Price Performance

Baker Hughes stock traded up $1.43 during trading hours on Monday, hitting $57.43. 2,412,069 shares of the company traded hands, compared to its average volume of 8,810,854. Baker Hughes Company has a 1-year low of $43.92 and a 1-year high of $70.41. The firm has a market cap of $57.01 billion, a P/E ratio of 18.54, a P/E/G ratio of 2.45 and a beta of 1.04. The firm's 50-day simple moving average is $60.75 and its two-hundred day simple moving average is $61.14. The company has a quick ratio of 1.76, a current ratio of 2.09 and a debt-to-equity ratio of 0.77.

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

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Friday, August 7th were issued a $0.23 dividend. The ex-dividend date was Friday, August 7th. This represents a $0.92 annualized dividend and a dividend yield of 1.6%. Baker Hughes's dividend payout ratio is 29.68%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Barclays dropped their target price on Baker Hughes from $74.00 to $72.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 16th. Citigroup increased their price objective on shares of Baker Hughes from $74.00 to $75.00 and gave the stock a "buy" rating in a report on Wednesday, July 8th. Zacks Research raised shares of Baker Hughes from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 16th. Morgan Stanley began coverage on shares of Baker Hughes in a research report on Friday, August 7th. They issued an "overweight" rating and a $70.00 target price for the company. Finally, UBS Group dropped their price target on shares of Baker Hughes from $72.00 to $69.00 and set a "neutral" rating on the stock in a research note on Wednesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $71.41.

Baker Hughes Company Profile

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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