Crossmark Global Holdings Inc. Has $2.99 Million Position in Baker Hughes Company (NASDAQ:BKR)

Crossmark Global Holdings Inc. grew its position in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 53.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 68,024 shares of the company's stock after acquiring an additional 23,746 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Baker Hughes were worth $2,990,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BKR. Jones Financial Companies Lllp boosted its position in shares of Baker Hughes by 144.6% in the fourth quarter. Jones Financial Companies Lllp now owns 9,069 shares of the company's stock worth $372,000 after buying an additional 5,362 shares during the period. SBI Securities Co. Ltd. purchased a new position in Baker Hughes in the fourth quarter valued at about $30,000. Assetmark Inc. boosted its holdings in Baker Hughes by 17.6% in the fourth quarter. Assetmark Inc. now owns 23,719 shares of the company's stock valued at $973,000 after purchasing an additional 3,556 shares during the last quarter. Atria Investments Inc boosted its holdings in Baker Hughes by 172.6% in the fourth quarter. Atria Investments Inc now owns 40,407 shares of the company's stock valued at $1,657,000 after purchasing an additional 25,585 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in Baker Hughes in the fourth quarter valued at about $4,410,000. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BKR. Morgan Stanley reduced their price target on Baker Hughes from $55.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Citigroup reduced their price target on Baker Hughes from $54.00 to $53.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Barclays reduced their target price on Baker Hughes from $54.00 to $48.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Royal Bank Of Canada reduced their target price on Baker Hughes from $50.00 to $46.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Finally, Piper Sandler reduced their target price on Baker Hughes from $53.00 to $50.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $48.50.

Baker Hughes Price Performance

Shares of BKR stock traded up $0.99 during midday trading on Friday, reaching $40.70. 5,800,955 shares of the company were exchanged, compared to its average volume of 7,191,900. Baker Hughes Company has a 12 month low of $32.25 and a 12 month high of $49.40. The company has a market cap of $40.32 billion, a P/E ratio of 13.89, a PEG ratio of 4.25 and a beta of 0.91. The company's 50 day moving average price is $37.99 and its two-hundred day moving average price is $40.99. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.93 and a current ratio of 1.34.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.03. Baker Hughes had a net margin of 10.51% and a return on equity of 14.70%. The company had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.54 billion. On average, sell-side analysts expect that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Tuesday, May 6th were paid a $0.23 dividend. The ex-dividend date was Tuesday, May 6th. This represents a $0.92 dividend on an annualized basis and a yield of 2.26%. Baker Hughes's dividend payout ratio is currently 31.40%.

Baker Hughes Company Profile

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.