128,766 Baker Hughes Company $BKR Shares Acquired by CX Institutional

by · The Cerbat Gem

CX Institutional boosted its stake in Baker Hughes Company (NASDAQ:BKR – Free Report) by 1,266.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 138,934 shares of the company’s stock after buying an additional 128,766 shares during the period. CX Institutional’s holdings in Baker Hughes were worth $7,756,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. MCF Advisors LLC lifted its position in Baker Hughes by 121.4% during the second quarter. MCF Advisors LLC now owns 476 shares of the company’s stock worth $26,000 after acquiring an additional 261 shares during the last quarter. MV Capital Management Inc. bought a new position in shares of Baker Hughes during the fourth quarter worth approximately $34,000. Jones Financial Companies Lllp bought a new position in shares of Baker Hughes during the second quarter worth approximately $39,000. Meeder Asset Management Inc. lifted its holdings in 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 purchasing an additional 214 shares during the last quarter. Finally, Ascentis Independent Advisors acquired a new stake in Baker Hughes during the 1st quarter worth approximately $49,000. 92.06% of the stock is owned by institutional investors.

Baker Hughes Price Performance

NASDAQ BKR traded up $0.38 during midday trading on Friday, hitting $56.00. The company had a trading volume of 3,982,430 shares, compared to its average volume of 8,844,044. The firm has a 50-day moving average price of $60.77 and a 200-day moving average price of $61.13. The company has a market capitalization of $55.59 billion, a PE ratio of 18.06, a P/E/G ratio of 2.39 and a beta of 1.04. The company has a current ratio of 2.09, a quick ratio of 1.76 and a debt-to-equity ratio of 0.77. Baker Hughes Company has a twelve month low of $43.92 and a twelve month high of $70.41.

Baker Hughes (NASDAQ:BKR – Get Free Report) last released its earnings results on Monday, July 27th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.13. Baker Hughes had a return on equity of 13.85% and a net margin of 11.17%.The company had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.54 billion. During the same period in the prior year, the firm posted $0.63 EPS. Baker Hughes’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, analysts anticipate that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Friday, August 7th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Friday, August 7th. Baker Hughes’s dividend payout ratio is presently 29.68%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Stifel Nicolaus boosted their price target on Baker Hughes from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Zacks Research raised Baker Hughes from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 16th. Royal Bank Of Canada boosted their target price on shares of Baker Hughes from $71.00 to $76.00 and gave the company an “outperform” rating in a research report on Tuesday, August 25th. UBS Group decreased their price target on shares of Baker Hughes from $72.00 to $69.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $71.00 price target on shares of Baker Hughes in a research report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $71.41.

Check Out Our Latest Research Report on Baker Hughes

Baker Hughes Company Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding BKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Baker Hughes Company (NASDAQ:BKR – Free Report).