Baker Hughes Company $BKR Shares Bought by GAMMA Investing LLC

Key Points

• GAMMA Investing LLC increased its Baker Hughes position by 148.7% in the third quarter, bringing its holdings to 55,063 shares valued at approximately $3.02 million. Institutional investors collectively own 92.06% of BKR.
• Analysts maintain a generally positive outlook, with Baker Hughes receiving a “Moderate Buy” consensus rating and an average price target of $71.41, above its cited trading price of $56.70.
• Baker Hughes exceeded quarterly earnings expectations, reporting $0.64 in EPS and $6.74 billion in revenue, while paying a quarterly dividend of $0.23 per share, equivalent to a 1.6% annualized yield.

GAMMA Investing LLC lifted its position in Baker Hughes Company (NASDAQ:BKR - Free Report) by 148.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,063 shares of the company's stock after buying an additional 32,923 shares during the quarter. GAMMA Investing LLC's holdings in Baker Hughes were worth $3,023,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of BKR. Farther Finance Advisors LLC increased its position in Baker Hughes by 149.3% during the third quarter. Farther Finance Advisors LLC now owns 34,919 shares of the company's stock worth $1,917,000 after acquiring an additional 20,912 shares during the period. CoreCap Advisors LLC grew its position in Baker Hughes by 91.8% in the 3rd quarter. CoreCap Advisors LLC now owns 3,401 shares of the company's stock worth $187,000 after purchasing an additional 1,628 shares during the last quarter. Everhart Financial Group Inc. increased its holdings in shares of Baker Hughes by 67.4% during the 3rd quarter. Everhart Financial Group Inc. now owns 6,077 shares of the company's stock worth $334,000 after purchasing an additional 2,447 shares during the period. Valeo Financial Advisors LLC increased its holdings in shares of Baker Hughes by 55.2% during the 3rd quarter. Valeo Financial Advisors LLC now owns 10,357 shares of the company's stock worth $569,000 after purchasing an additional 3,682 shares during the period. Finally, Quintet Private Bank Europe S.A. acquired a new position in shares of Baker Hughes during the third quarter valued at about $490,000. 92.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BKR. Barclays reduced their target price on shares of Baker Hughes from $74.00 to $72.00 and set an "equal weight" rating for the company in a research note on Thursday, July 16th. Morgan Stanley assumed coverage on Baker Hughes in a report on Friday, August 7th. They issued an "overweight" rating and a $70.00 price target for the company. Wolfe Research started coverage on Baker Hughes in a research report on Wednesday, July 8th. They issued an "outperform" rating and a $70.00 price objective for the company. TD Cowen lowered their price objective on Baker Hughes from $78.00 to $76.00 and set a "buy" rating on the stock in a research report on Tuesday, September 29th. Finally, Susquehanna upped their target price on Baker Hughes from $72.00 to $75.00 and gave the company a "positive" rating in a research note on Thursday, September 10th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Baker Hughes has an average rating of "Moderate Buy" and an average target price of $71.41.

Baker Hughes Trading Up 0.7%

BKR stock opened at $56.70 on Friday. Baker Hughes Company has a 1-year low of $43.92 and a 1-year high of $70.41. The company has a current ratio of 2.09, a quick ratio of 1.76 and a debt-to-equity ratio of 0.77. The business's 50 day moving average is $60.44 and its 200-day moving average is $61.04. The firm has a market cap of $56.28 billion, a P/E ratio of 18.29, a P/E/G ratio of 2.67 and a beta of 1.04.

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 for the quarter, beating analysts' consensus estimates of $0.51 by $0.13. The firm had revenue of $6.74 billion for the quarter, compared to analysts' expectations of $6.54 billion. Baker Hughes had a return on equity of 13.85% and a net margin of 11.17%. The business's revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.63 earnings per share. Equities analysts anticipate that Baker Hughes Company will post 2.58 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, August 7th were given a dividend of $0.23 per share. The ex-dividend date was Friday, August 7th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.6%. Baker Hughes's dividend payout ratio (DPR) is 29.68%.

Baker Hughes 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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