Baker Hughes Company $BKR Stock: State of Alaska Department of Revenue Raises Holdings

State of Alaska Department of Revenue lifted its position in shares of Baker Hughes Company (NASDAQ:BKR) by 24.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 142,798 shares of the company’s stock after acquiring an additional 27,700 shares during the quarter. State of Alaska Department of Revenue’s holdings in Baker Hughes were worth $7,840,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of BKR. Bleakley Financial Group LLC increased its stake in shares of Baker Hughes by 0.6% in the 1st quarter. Bleakley Financial Group LLC now owns 25,485 shares of the company’s stock valued at $1,556,000 after purchasing an additional 163 shares in the last quarter. Resolute Wealth Strategies LLC raised its holdings in Baker Hughes by 2.7% in the 1st quarter. Resolute Wealth Strategies LLC now owns 6,597 shares of the company’s stock worth $403,000 after purchasing an additional 172 shares during the period. Evolve Private Wealth LLC raised its holdings in Baker Hughes by 2.4% in the 1st quarter. Evolve Private Wealth LLC now owns 8,663 shares of the company’s stock worth $529,000 after purchasing an additional 203 shares during the period. Meeder Asset Management Inc. raised its holdings in Baker Hughes by 49.0% in 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 period. Finally, Anchor Investment Management LLC boosted its position in Baker Hughes by 36.3% during the second quarter. Anchor Investment Management LLC now owns 954 shares of the company’s stock worth $53,000 after purchasing an additional 254 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. TD Cowen dropped 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. The Goldman Sachs Group restated a “buy” rating and issued a $71.00 price objective on shares of Baker Hughes in a research report on Tuesday, September 29th. Piper Sandler upped their target price on Baker Hughes from $71.00 to $73.00 and gave the stock an “overweight” 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 research note on Wednesday, September 16th. Finally, Citigroup increased their target price on Baker Hughes from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.24.

Baker Hughes Stock Down 1.8%

Shares of NASDAQ BKR opened at $54.40 on Friday. The firm has a market cap of $54.00 billion, a price-to-earnings ratio of 17.55, a price-to-earnings-growth ratio of 2.63 and a beta of 1.04. The company’s 50-day simple moving average is $59.95 and its 200-day simple moving average is $60.82. The company has a quick ratio of 1.76, a current ratio of 2.09 and a debt-to-equity ratio of 0.77. Baker Hughes Company has a 52-week low of $44.24 and a 52-week high of $70.41.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Monday, July 27th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.13. The firm had revenue of $6.74 billion during the quarter, compared to the consensus estimate 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 in the prior year, the firm earned $0.63 EPS. Equities analysts predict that Baker Hughes Company will post 2.58 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Friday, August 7th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.7%. Baker Hughes’s dividend payout ratio is presently 29.68%.

Baker Hughes Company 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.