Baker Hughes Company $BKR Stock: DSG Capital Advisors LLC Increases Stake

DSG Capital Advisors LLC raised its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 69.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,190 shares of the company’s stock after acquiring an additional 13,972 shares during the quarter. DSG Capital Advisors LLC’s holdings in Baker Hughes were worth $1,877,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Bleakley Financial Group LLC increased its holdings in 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 acquiring an additional 163 shares during the last quarter. Resolute Wealth Strategies LLC boosted its holdings in shares of Baker Hughes by 2.7% during the 1st quarter. Resolute Wealth Strategies LLC now owns 6,597 shares of the company’s stock valued at $403,000 after purchasing an additional 172 shares during the last quarter. Meeder Asset Management Inc. boosted its holdings in shares of Baker Hughes by 49.0% during the 1st quarter. Meeder Asset Management Inc. now owns 651 shares of the company’s stock valued at $40,000 after purchasing an additional 214 shares during the last quarter. Paladin Wealth LLC grew its position in shares of Baker Hughes by 2.6% during the third quarter. Paladin Wealth LLC now owns 9,162 shares of the company’s stock valued at $503,000 after purchasing an additional 230 shares in the last quarter. Finally, Anchor Investment Management LLC grew its position in shares of Baker Hughes by 36.3% during the second quarter. Anchor Investment Management LLC now owns 954 shares of the company’s stock valued at $53,000 after purchasing an additional 254 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on BKR shares. Jefferies Financial Group reduced their target price on Baker Hughes from $80.00 to $77.00 and set a “buy” rating on the stock in a report on Tuesday, September 29th. Barclays dropped their price target on Baker Hughes from $72.00 to $62.00 and set an “equal weight” rating for the company in a research note on Thursday, October 29th. Freedom Broker upgraded Baker Hughes from a “sell” rating to a “hold” rating and raised their price target for the company from $51.00 to $52.00 in a report on Friday, October 30th. Royal Bank Of Canada reduced their price objective on Baker Hughes from $71.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, October 29th. Finally, UBS Group reduced their price objective on Baker Hughes from $72.00 to $69.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 30th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $70.27.

Insiders Place Their Bets

In other news, Director John Rice bought 10,000 shares of Baker Hughes stock in a transaction dated Tuesday, November 3rd. The shares were acquired at an average price of $53.10 per share, with a total value of $531,000.00. Following the completion of the purchase, the director owned 77,315 shares in the company, valued at $4,105,426.50. The trade was a 14.86% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.19% of the stock is owned by company insiders.

Baker Hughes Price Performance

Shares of Baker Hughes stock opened at $47.77 on Wednesday. The stock has a market cap of $47.44 billion, a price-to-earnings ratio of 16.47, a price-to-earnings-growth ratio of 2.31 and a beta of 1.07. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.90 and a current ratio of 1.24. The stock has a 50 day moving average price of $56.32 and a 200-day moving average price of $59.97. Baker Hughes Company has a one year low of $44.26 and a one year high of $70.41.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Tuesday, October 27th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.09. The company had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.74 billion. Baker Hughes had a return on equity of 13.55% and a net margin of 10.08%. Baker Hughes’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.68 EPS. Equities analysts expect that Baker Hughes Company will post 2.56 EPS for the current year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Tuesday, November 10th will be given a dividend of $0.23 per share. The ex-dividend date is Tuesday, November 10th. This represents a $0.92 dividend on an annualized basis and a yield of 1.9%. Baker Hughes’s payout ratio is 31.72%.

Baker Hughes Company Profile

Baker Hughes (NASDAQ: BKR) is an energy technology company that provides products and services to the oil and gas industry and other industrial markets. Its offerings include equipment and services used across the energy value chain, from exploration and production to transportation and processing. The company also develops turbomachinery, industrial equipment, digital technologies and solutions for energy and industrial applications. Its portfolio includes technologies designed to support more efficient operations and lower-emissions energy systems.