Baker Hughes Company $BKR Holdings Lifted by State of Alaska Department of Revenue

Key Points

• Institutional ownership increased: The State of Alaska Department of Revenue raised its Baker Hughes position by 24.1% to 142,798 shares, while institutional investors collectively own 92.06% of the company.
• Latest results exceeded expectations: Baker Hughes reported quarterly EPS of $0.64 versus the $0.51 consensus estimate, with revenue of $6.74 billion, up 2.4% year over year.
• Analysts remain generally positive: The stock has a “Moderate Buy” consensus rating and an average price target of $72.24, compared with a recent share price of $54.40. The company also pays a quarterly dividend of $0.23 per share, yielding about 1.7%.

State of Alaska Department of Revenue increased its position in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 24.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 142,798 shares of the company's stock after purchasing an additional 27,700 shares during the quarter. State of Alaska Department of Revenue's holdings in Baker Hughes were worth $7,840,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of BKR. Amundi increased its holdings in Baker Hughes by 28.2% in the 1st quarter. Amundi now owns 10,946,464 shares of the company's stock worth $668,282,000 after buying an additional 2,409,978 shares during the period. First Trust Advisors LP lifted its stake in Baker Hughes by 4.0% during the 1st quarter. First Trust Advisors LP now owns 9,663,737 shares of the company's stock valued at $589,971,000 after acquiring an additional 374,974 shares during the period. Bank of New York Mellon Corp lifted its stake in Baker Hughes by 1.8% during the 1st quarter. Bank of New York Mellon Corp now owns 6,738,599 shares of the company's stock valued at $411,391,000 after acquiring an additional 119,388 shares during the period. Perpetual Ltd lifted its stake in Baker Hughes by 24.0% during the 3rd quarter. Perpetual Ltd now owns 3,958,604 shares of the company's stock valued at $217,327,000 after acquiring an additional 765,582 shares during the period. Finally, Bank of America Corp DE boosted its holdings in shares of Baker Hughes by 5.1% in the 1st quarter. Bank of America Corp DE now owns 3,837,618 shares of the company's stock valued at $234,287,000 after acquiring an additional 184,897 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company's stock.

Baker Hughes Stock Down 1.8%

Baker Hughes stock opened at $54.40 on Friday. The business's 50-day moving average price is $59.95 and its 200 day moving average price is $60.82. The company has a quick ratio of 1.76, a current ratio of 2.09 and a debt-to-equity ratio of 0.77. The firm has a market cap of $54.00 billion, a price-to-earnings ratio of 17.55, a price-to-earnings-growth ratio of 2.63 and a beta of 1.04. Baker Hughes Company has a 52 week low of $44.24 and a 52 week high of $70.41.

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

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Friday, August 7th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.7%. Baker Hughes's dividend payout ratio (DPR) is presently 29.68%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group reiterated a "buy" rating and issued a $71.00 price objective on shares of Baker Hughes in a research note on Tuesday, September 29th. Jefferies Financial Group reduced their target price on shares of Baker Hughes from $80.00 to $77.00 and set a "buy" rating for the company in a report on Tuesday, September 29th. Stifel Nicolaus raised their target price on shares of Baker Hughes from $74.00 to $75.00 and gave the stock a "buy" rating in a report on Tuesday, July 28th. Royal Bank Of Canada boosted their target price on shares of Baker Hughes from $71.00 to $76.00 and gave the company an "outperform" rating in a research report on Tuesday, August 25th. Finally, UBS Group lowered their price target on shares of Baker Hughes from $72.00 to $69.00 and set a "neutral" rating on the stock in a report on Wednesday, September 30th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $72.24.

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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