Baker Hughes Company $BKR Stock: Assenagon Asset Management S.A. Raises Stake

Assenagon Asset Management S.A. raised its stake in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 1,289.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,210,521 shares of the company's stock after purchasing an additional 1,123,391 shares during the quarter. Assenagon Asset Management S.A. owned 0.12% of Baker Hughes worth $72,630,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in BKR. MCF Advisors LLC lifted its holdings in Baker Hughes by 121.4% in the second quarter. MCF Advisors LLC now owns 476 shares of the company's stock worth $26,000 after buying an additional 261 shares during the period. Olistico Wealth LLC lifted its stake in Baker Hughes by 209.4% during the 3rd quarter. Olistico Wealth LLC now owns 495 shares of the company's stock valued at $27,000 after acquiring an additional 335 shares during the period. Elevation Wealth Partners LLC raised its stake in Baker Hughes by 260.1% during the 3rd quarter. Elevation Wealth Partners LLC now owns 497 shares of the company's stock valued at $27,000 after buying an additional 359 shares during the last quarter. Godsey & Gibb Inc. bought a new stake in shares of Baker Hughes during the 3rd quarter valued at about $33,000. Finally, Meeder Asset Management Inc. boosted its stake in shares of Baker Hughes by 49.0% during the 1st quarter. Meeder Asset Management Inc. now owns 651 shares of the company's stock worth $40,000 after acquiring an additional 214 shares during the last quarter. 92.06% of the stock is owned by institutional investors.

Baker Hughes Stock Up 2.4%

Shares of NASDAQ:BKR opened at $55.70 on Friday. Baker Hughes Company has a 1 year low of $44.26 and a 1 year high of $70.41. The stock has a 50-day simple moving average of $59.83 and a 200-day simple moving average of $60.79. 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 market capitalization of $55.29 billion, a P/E ratio of 20.30, a PEG ratio of 2.58 and a beta of 1.04.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $6.74 billion for the quarter, compared to analysts' expectations of $6.54 billion. During the same period in the prior year, the company posted $0.63 earnings per share. The firm's quarterly revenue was up 2.4% on a year-over-year basis. Equities analysts forecast that Baker Hughes Company will post 2.58 earnings per share for the current year.

Baker Hughes Dividend Announcement

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

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Jefferies Financial Group decreased their price objective on Baker Hughes from $80.00 to $77.00 and set a "buy" rating on the stock in a report on Tuesday, September 29th. Wolfe Research started coverage on shares of Baker Hughes in a report on Wednesday, July 8th. They set an "outperform" rating and a $70.00 price objective on the stock. UBS Group reduced their price target on Baker Hughes from $72.00 to $69.00 and set a "neutral" rating for the company in a research report on Wednesday, September 30th. Susquehanna raised their target price on Baker Hughes from $72.00 to $75.00 and gave the company a "positive" rating in a research report on Thursday, September 10th. Finally, Barclays decreased their price objective on shares of Baker Hughes from $74.00 to $72.00 and set an "equal weight" rating on the stock in a report on Thursday, July 16th. Two investment 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. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $72.24.

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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