Osaic Holdings Inc. Has $2.90 Million Stock Holdings in Baker Hughes Company $BKR

Osaic Holdings Inc. trimmed its stake in shares of Baker Hughes Company (NASDAQ:BKR) by 16.9% in the second quarter, Holdings Channel.com reports. The fund owned 75,326 shares of the company’s stock after selling 15,269 shares during the quarter. Osaic Holdings Inc.’s holdings in Baker Hughes were worth $2,896,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kestra Advisory Services LLC increased its position in Baker Hughes by 68.1% during the 1st quarter. Kestra Advisory Services LLC now owns 64,345 shares of the company’s stock valued at $2,828,000 after purchasing an additional 26,064 shares during the period. Ieq Capital LLC increased its position in shares of Baker Hughes by 35.3% during the first quarter. Ieq Capital LLC now owns 165,881 shares of the company’s stock worth $7,290,000 after buying an additional 43,290 shares during the period. OMERS ADMINISTRATION Corp increased its position in shares of Baker Hughes by 55.5% during the first quarter. OMERS ADMINISTRATION Corp now owns 65,310 shares of the company’s stock worth $2,870,000 after buying an additional 23,301 shares during the period. State of Wyoming raised its stake in Baker Hughes by 107.3% during the first quarter. State of Wyoming now owns 9,904 shares of the company’s stock worth $435,000 after buying an additional 5,126 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in Baker Hughes by 462.2% in the first quarter. Canada Pension Plan Investment Board now owns 1,064,661 shares of the company’s stock valued at $46,792,000 after buying an additional 875,275 shares during the period. 92.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BKR. Susquehanna lifted their price objective on Baker Hughes from $52.00 to $56.00 and gave the stock a “positive” rating in a research report on Thursday, October 2nd. Capital One Financial lifted their target price on Baker Hughes from $49.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, September 16th. Stifel Nicolaus boosted their price target on Baker Hughes from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, October 27th. Evercore ISI set a $54.00 price objective on shares of Baker Hughes in a research report on Monday, October 27th. Finally, Jefferies Financial Group lifted their price objective on shares of Baker Hughes from $58.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday, November 20th. Twenty-three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Baker Hughes currently has an average rating of “Moderate Buy” and a consensus price target of $53.92.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $45.25 on Friday. The stock’s 50 day moving average is $47.70 and its 200-day moving average is $45.01. Baker Hughes Company has a twelve month low of $33.60 and a twelve month high of $51.12. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $44.65 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 1.65 and a beta of 0.90.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Friday, November 18th. The company reported $0.16 EPS for the quarter. Baker Hughes had a net margin of 10.43% and a return on equity of 14.22%. The business had revenue of $5.09 billion during the quarter. Sell-side analysts forecast that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Tuesday, November 4th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Tuesday, November 4th. Baker Hughes’s dividend payout ratio is currently 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.