Baker Hughes Company (NASDAQ:BKR) Shares Acquired by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC increased its holdings in Baker Hughes Company (NASDAQ:BKR - Free Report) by 113.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 27,982 shares of the company's stock after buying an additional 14,888 shares during the period. Exchange Traded Concepts LLC's holdings in Baker Hughes were worth $1,230,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Dynasty Wealth Management LLC lifted its position in Baker Hughes by 2.7% in the 4th quarter. Dynasty Wealth Management LLC now owns 7,904 shares of the company's stock valued at $324,000 after purchasing an additional 207 shares during the last quarter. Larson Financial Group LLC lifted its position in Baker Hughes by 41.2% in the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company's stock valued at $30,000 after purchasing an additional 216 shares during the last quarter. Alpine Woods Capital Investors LLC lifted its position in Baker Hughes by 0.7% in the 4th quarter. Alpine Woods Capital Investors LLC now owns 40,467 shares of the company's stock valued at $1,660,000 after purchasing an additional 267 shares during the last quarter. Cromwell Holdings LLC lifted its position in Baker Hughes by 9.3% in the 4th quarter. Cromwell Holdings LLC now owns 3,169 shares of the company's stock valued at $130,000 after purchasing an additional 269 shares during the last quarter. Finally, Commerce Bank lifted its position in Baker Hughes by 1.0% in the 4th quarter. Commerce Bank now owns 31,075 shares of the company's stock valued at $1,275,000 after purchasing an additional 300 shares during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Stock Down 1.6%

BKR stock opened at $38.98 on Thursday. Baker Hughes Company has a 52-week low of $32.12 and a 52-week high of $49.40. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.93. The firm has a market capitalization of $38.62 billion, a P/E ratio of 13.30, a P/E/G ratio of 4.21 and a beta of 0.91. The company's 50 day simple moving average is $37.45 and its 200-day simple moving average is $41.30.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.03. Baker Hughes had a net margin of 10.51% and a return on equity of 14.70%. The firm had revenue of $6.43 billion for the quarter, compared to analysts' expectations of $6.54 billion. As a group, equities research analysts anticipate that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend was Tuesday, May 6th. Baker Hughes's dividend payout ratio is currently 31.40%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on BKR shares. Citigroup cut their price objective on shares of Baker Hughes from $54.00 to $53.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Susquehanna dropped their price target on shares of Baker Hughes from $48.00 to $46.00 and set a "positive" rating on the stock in a research report on Thursday, April 24th. Morgan Stanley dropped their price target on shares of Baker Hughes from $55.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Piper Sandler dropped their price target on shares of Baker Hughes from $53.00 to $50.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Finally, Royal Bank Of Canada dropped their price target on shares of Baker Hughes from $50.00 to $46.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, Baker Hughes has a consensus rating of "Moderate Buy" and a consensus price target of $49.11.

About Baker Hughes

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.

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