Praxis Investment Management Inc. Acquires 8,550 Shares of Baker Hughes Company (NASDAQ:BKR)

Praxis Investment Management Inc. lifted its holdings in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 11.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 84,830 shares of the company's stock after acquiring an additional 8,550 shares during the quarter. Praxis Investment Management Inc.'s holdings in Baker Hughes were worth $3,728,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of BKR. Principal Securities Inc. increased its position in shares of Baker Hughes by 336.5% during the fourth quarter. Principal Securities Inc. now owns 15,577 shares of the company's stock valued at $639,000 after acquiring an additional 12,008 shares during the last quarter. D.A. Davidson & CO. purchased a new stake in shares of Baker Hughes during the fourth quarter valued at approximately $2,452,000. Kestra Investment Management LLC purchased a new stake in shares of Baker Hughes during the fourth quarter valued at approximately $45,000. Global Retirement Partners LLC increased its position in shares of Baker Hughes by 216.2% during the fourth quarter. Global Retirement Partners LLC now owns 13,024 shares of the company's stock valued at $534,000 after acquiring an additional 8,905 shares during the last quarter. Finally, Private Advisor Group LLC increased its position in shares of Baker Hughes by 94.2% during the fourth quarter. Private Advisor Group LLC now owns 17,658 shares of the company's stock valued at $724,000 after acquiring an additional 8,565 shares during the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Stock Up 0.1%

BKR opened at $39.00 on Friday. The company has a 50 day moving average of $37.52 and a 200 day moving average of $41.23. The company has a market cap of $38.64 billion, a PE ratio of 13.31, a price-to-earnings-growth ratio of 4.14 and a beta of 0.91. Baker Hughes Company has a 12 month low of $32.25 and a 12 month high of $49.40. The company has a current ratio of 1.34, a quick ratio of 0.93 and a debt-to-equity ratio of 0.35.

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

Baker Hughes Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BKR. TD Cowen decreased their price target on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Morgan Stanley decreased their price target on shares of Baker Hughes from $55.00 to $45.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Royal Bank Of Canada decreased their price target on shares of Baker Hughes from $50.00 to $46.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Piper Sandler decreased their price target on shares of Baker Hughes from $53.00 to $50.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Finally, Evercore ISI decreased their price target on shares of Baker Hughes from $52.00 to $50.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $49.11.

Baker Hughes 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.

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