Baker Hughes Company $BKR Stock Position Reduced by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 1.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,481,551 shares of the company’s stock after selling 44,275 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Baker Hughes were worth $136,237,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in BKR. MCF Advisors LLC grew its stake in shares of Baker Hughes by 121.4% in the second quarter. MCF Advisors LLC now owns 476 shares of the company’s stock worth $26,000 after purchasing an additional 261 shares in the last quarter. Latitude Advisors LLC acquired a new position in shares of Baker Hughes during the third quarter valued at $27,000. Olistico Wealth LLC raised its stake in shares of Baker Hughes by 209.4% during the third quarter. Olistico Wealth LLC now owns 495 shares of the company’s stock valued at $27,000 after purchasing an additional 335 shares in the last quarter. Elevation Wealth Partners LLC raised its stake in shares of Baker Hughes by 260.1% during the third quarter. Elevation Wealth Partners LLC now owns 497 shares of the company’s stock valued at $27,000 after purchasing an additional 359 shares in the last quarter. Finally, Godsey & Gibb Inc. bought a new stake in shares of Baker Hughes during the third quarter valued at about $33,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Stock Down 3.9%

Shares of BKR stock opened at $53.05 on Tuesday. Baker Hughes Company has a 1 year low of $44.26 and a 1 year high of $70.41. The stock has a market cap of $52.66 billion, a PE ratio of 18.29, a price-to-earnings-growth ratio of 2.62 and a beta of 1.04. The business’s fifty day moving average is $57.94 and its 200-day moving average is $60.07. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.76 and a current ratio of 1.24.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Tuesday, October 27th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. The company had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.74 billion. Baker Hughes had a return on equity of 13.55% and a net margin of 10.08%. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.68 EPS. Equities analysts expect that Baker Hughes Company will post 2.58 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Tuesday, November 10th will be given a $0.23 dividend. The ex-dividend date is Tuesday, November 10th. This represents a $0.92 annualized dividend and a yield of 1.7%. Baker Hughes’s payout ratio is 31.72%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Baker Hughes in a report on Friday, October 9th. Citigroup lowered their target price on shares of Baker Hughes from $75.00 to $72.00 and set a “buy” rating on the stock in a research note on Monday, October 19th. Stifel Nicolaus boosted their price target on shares of Baker Hughes from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Wall Street Zen lowered shares of Baker Hughes from a “buy” rating to a “hold” rating in a research note on Wednesday, August 5th. Finally, The Goldman Sachs Group initiated coverage on shares of Baker Hughes in a research note on Tuesday, September 29th. They issued a “buy” rating and a $71.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $70.27.

Baker Hughes Profile

Baker Hughes Company (NASDAQ: BKR) is an energy technology company that provides products, services and digital solutions for the oil and gas industry and other energy-related markets. Its offerings support the exploration, drilling, completion, production and maintenance of energy assets across the lifecycle of a project.

The company’s oilfield services and equipment business provides technologies such as drilling systems, well completions, artificial lift, subsea equipment, production chemicals and well intervention services.