Stephens Investment Management Group LLC Acquires 31,852 Shares of Baker Hughes (NASDAQ:BKR)

Stephens Investment Management Group LLC grew its position in shares of Baker Hughes (NASDAQ:BKR) by 8.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 400,603 shares of the company’s stock after purchasing an additional 31,852 shares during the quarter. Stephens Investment Management Group LLC’s holdings in Baker Hughes were worth $14,482,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in BKR. Wealth Enhancement Advisory Services LLC raised its holdings in Baker Hughes by 8.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 23,332 shares of the company’s stock worth $782,000 after purchasing an additional 1,829 shares during the last quarter. Norden Group LLC bought a new stake in shares of Baker Hughes in the 1st quarter valued at $2,392,000. Commonwealth Equity Services LLC increased its stake in shares of Baker Hughes by 23.5% in the 1st quarter. Commonwealth Equity Services LLC now owns 30,644 shares of the company’s stock valued at $1,027,000 after acquiring an additional 5,839 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Baker Hughes by 9.3% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 28,491 shares of the company’s stock valued at $954,000 after acquiring an additional 2,427 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of Baker Hughes by 0.6% in the 1st quarter. Nordea Investment Management AB now owns 1,467,661 shares of the company’s stock valued at $49,167,000 after acquiring an additional 8,828 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Insider Transactions at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 114,286 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $35.00, for a total value of $4,000,010.00. Following the sale, the chief executive officer now directly owns 502,053 shares in the company, valued at approximately $17,571,855. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on BKR shares. Wells Fargo & Company upgraded shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $40.00 to $42.00 in a research note on Wednesday, September 25th. Evercore ISI lifted their price objective on shares of Baker Hughes from $42.00 to $46.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Royal Bank of Canada reiterated an “outperform” rating and issued a $43.00 price objective on shares of Baker Hughes in a research note on Thursday, October 24th. TD Cowen lifted their price target on shares of Baker Hughes from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, Benchmark reissued a “buy” rating and issued a $42.00 price target on shares of Baker Hughes in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $44.12.

Baker Hughes Price Performance

BKR opened at $37.85 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. The company has a market capitalization of $37.60 billion, a price-to-earnings ratio of 16.97, a P/E/G ratio of 0.64 and a beta of 1.38. The firm’s fifty day moving average price is $35.98 and its two-hundred day moving average price is $34.53. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $39.05.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. The company had revenue of $6.91 billion for the quarter, compared to analysts’ expectations of $7.21 billion. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.42 EPS. As a group, analysts anticipate that Baker Hughes will post 2.28 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 4th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend is Monday, November 4th. Baker Hughes’s payout ratio is 37.67%.

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.