Park National Corp OH Grows Stock Holdings in Baker Hughes Company $BKR

Park National Corp OH boosted its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 150.9% in the 3rd quarter, Holdings Channel reports. The firm owned 169,142 shares of the company’s stock after buying an additional 101,738 shares during the period. Park National Corp OH’s holdings in Baker Hughes were worth $9,286,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Cardano Risk Management B.V. lifted its position in shares of Baker Hughes by 1,005.1% during the 4th quarter. Cardano Risk Management B.V. now owns 49,353,310 shares of the company’s stock valued at $2,247,550,000 after acquiring an additional 44,887,481 shares during the last quarter. Capital International Investors raised its position in shares of Baker Hughes by 6.4% during the fourth quarter. Capital International Investors now owns 15,933,590 shares of the company’s stock worth $725,616,000 after purchasing an additional 956,808 shares during the period. Amundi raised its position in shares of Baker Hughes by 28.2% during the first quarter. Amundi now owns 10,946,464 shares of the company’s stock worth $668,282,000 after purchasing an additional 2,409,978 shares during the period. First Trust Advisors LP lifted its holdings in shares of Baker Hughes by 4.0% during the first quarter. First Trust Advisors LP now owns 9,663,737 shares of the company’s stock valued at $589,971,000 after purchasing an additional 374,974 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Baker Hughes by 1.8% in the 1st quarter. Bank of New York Mellon Corp now owns 6,738,599 shares of the company’s stock valued at $411,391,000 after purchasing an additional 119,388 shares during the period. 92.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on BKR shares. TD Cowen cut their price objective on Baker Hughes from $78.00 to $76.00 and set a “buy” rating on the stock in a report on Tuesday, September 29th. Morgan Stanley began coverage on shares of Baker Hughes in a report on Friday, August 7th. They issued an “overweight” rating and a $70.00 target price for the company. Zacks Research upgraded shares of Baker Hughes from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 16th. Piper Sandler upped their price target on shares of Baker Hughes from $71.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday, July 28th. Finally, UBS Group decreased their price objective on shares of Baker Hughes from $72.00 to $69.00 and set a “neutral” rating for the company in a research note on Wednesday, September 30th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Baker Hughes currently has a consensus rating of “Moderate Buy” and an average target price of $71.41.

Baker Hughes Stock Up 2.5%

BKR traded up $1.43 on Monday, reaching $57.43. 2,412,069 shares of the company traded hands, compared to its average volume of 8,810,854. The stock’s 50 day moving average price is $60.75 and its 200-day moving average price is $61.14. Baker Hughes Company has a 52-week low of $43.92 and a 52-week high of $70.41. The company has a market cap of $57.01 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 2.45 and a beta of 1.04. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.09 and a quick ratio of 1.76.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Monday, July 27th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.13. The firm had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.54 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 13.85%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.63 earnings per share. On average, sell-side analysts expect that Baker Hughes Company will post 2.58 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

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

Baker Hughes Profile

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.