Retirement Guys Formula LLC Invests $1.17 Million in Baker Hughes Company $BKR

Retirement Guys Formula LLC bought a new stake in shares of Baker Hughes Company (NASDAQ:BKR) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 24,014 shares of the company’s stock, valued at approximately $1,170,000.

Other large investors have also recently added to or reduced their stakes in the company. Forum Financial Management LP raised its stake in shares of Baker Hughes by 1.4% during the second quarter. Forum Financial Management LP now owns 17,255 shares of the company’s stock valued at $662,000 after purchasing an additional 233 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in Baker Hughes by 4.2% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 6,790 shares of the company’s stock valued at $260,000 after purchasing an additional 275 shares in the last quarter. CWM LLC boosted its holdings in shares of Baker Hughes by 0.6% during the third quarter. CWM LLC now owns 44,731 shares of the company’s stock worth $2,179,000 after purchasing an additional 287 shares during the period. V Square Quantitative Management LLC grew its position in Baker Hughes by 1.4% during the second quarter. V Square Quantitative Management LLC now owns 21,758 shares of the company’s stock valued at $834,000 after purchasing an additional 292 shares in the last quarter. Finally, Moody National Bank Trust Division boosted its stake in shares of Baker Hughes by 5.9% during the 2nd quarter. Moody National Bank Trust Division now owns 5,351 shares of the company’s stock valued at $205,000 after buying an additional 296 shares during the period. 92.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on BKR shares. Jefferies Financial Group boosted their target price on Baker Hughes from $58.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday, November 20th. Bank of America upped their price objective on Baker Hughes from $52.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, October 14th. Weiss Ratings reissued a “buy (b)” rating on shares of Baker Hughes in a report on Monday. BMO Capital Markets increased their target price on Baker Hughes from $53.00 to $55.00 in a report on Tuesday, November 11th. Finally, Cowen reissued a “buy” rating on shares of Baker Hughes in a report on Monday, October 27th. Twenty-three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.92.

Baker Hughes Trading Down 1.2%

BKR opened at $45.54 on Friday. The firm’s fifty day simple moving average is $47.56 and its 200 day simple moving average is $45.20. The stock has a market capitalization of $44.94 billion, a P/E ratio of 15.70, a P/E/G ratio of 1.66 and a beta of 0.89. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. Baker Hughes Company has a 12 month low of $33.60 and a 12 month high of $51.12.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Friday, November 18th. The company reported $0.16 earnings per share for the quarter. The firm had revenue of $5.09 billion for the quarter. Baker Hughes had a return on equity of 14.22% and a net margin of 10.43%. As a group, research analysts anticipate that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Tuesday, November 4th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Tuesday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is presently 31.72%.

About Baker Hughes

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm’s roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE’s oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.