Tema Etfs LLC Acquires Shares of 28,457 Baker Hughes Company $BKR

Tema Etfs LLC bought a new position in shares of Baker Hughes Company (NASDAQ:BKR) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 28,457 shares of the company’s stock, valued at approximately $1,386,000.

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BKR. JPMorgan Chase & Co. raised their price objective on Baker Hughes from $52.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, September 30th. HSBC increased their target price on shares of Baker Hughes from $54.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, October 27th. Capital One Financial boosted their price target on shares of Baker Hughes from $49.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 16th. Susquehanna upped their price objective on shares of Baker Hughes from $56.00 to $58.00 and gave the company a “positive” rating in a research note on Wednesday, January 7th. Finally, Royal Bank Of Canada increased their price objective on shares of Baker Hughes from $50.00 to $54.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Twenty-three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Baker Hughes has a consensus rating of “Moderate Buy” and a consensus price target of $53.92.

Baker Hughes Price Performance

Baker Hughes stock opened at $47.95 on Tuesday. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. The company has a 50-day moving average price of $47.70 and a 200 day moving average price of $45.80. Baker Hughes Company has a 12-month low of $33.60 and a 12-month high of $51.12. The stock has a market cap of $47.32 billion, a P/E ratio of 16.53, a PEG ratio of 1.76 and a beta of 0.89.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Thursday, October 23rd. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.06. The business had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $6.81 billion. Baker Hughes had a net margin of 10.43% and a return on equity of 14.22%. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.67 EPS. Sell-side analysts anticipate that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Tuesday, November 4th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, November 4th. This represents a $0.92 annualized dividend and a yield of 1.9%. Baker Hughes’s dividend payout ratio (DPR) is 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.