Ninety One UK Ltd Acquires 29,469 Shares of Baker Hughes Company $BKR

Ninety One UK Ltd grew its stake in Baker Hughes Company (NASDAQ:BKR) by 8.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 364,901 shares of the company’s stock after acquiring an additional 29,469 shares during the quarter. Ninety One UK Ltd’s holdings in Baker Hughes were worth $17,778,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Baker Hughes by 1.0% in the second quarter. Vanguard Group Inc. now owns 123,291,916 shares of the company’s stock worth $4,727,012,000 after purchasing an additional 1,173,700 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Baker Hughes by 1.6% in the 2nd quarter. Geode Capital Management LLC now owns 25,875,670 shares of the company’s stock worth $987,961,000 after purchasing an additional 397,984 shares in the last quarter. Norges Bank bought a new position in shares of Baker Hughes during the second quarter worth $862,722,000. Artisan Partners Limited Partnership grew its position in shares of Baker Hughes by 1.0% during the second quarter. Artisan Partners Limited Partnership now owns 16,677,718 shares of the company’s stock valued at $639,424,000 after purchasing an additional 167,095 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Baker Hughes by 18.9% in the 2nd quarter. Invesco Ltd. now owns 12,834,534 shares of the company’s stock worth $492,076,000 after acquiring an additional 2,044,402 shares during the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BKR. Jefferies Financial Group lifted their price target on shares of Baker Hughes from $58.00 to $59.00 and gave the stock a “buy” rating in a research note on Thursday, November 20th. Bank of America upped their target price on Baker Hughes from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, October 14th. Piper Sandler boosted their price objective on shares of Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Cowen restated a “buy” rating on shares of Baker Hughes in a report on Monday, October 27th. Finally, Barclays boosted their price target on Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. Twenty-three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $53.92.

Baker Hughes Trading Down 1.2%

Shares of BKR stock opened at $45.54 on Friday. The firm has a market cap of $44.94 billion, a PE ratio of 15.70, a price-to-earnings-growth ratio of 1.66 and a beta of 0.89. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00. Baker Hughes Company has a 1-year low of $33.60 and a 1-year high of $51.12. The company has a 50-day moving average of $47.56 and a two-hundred day moving average of $45.20.

Baker Hughes (NASDAQ:BKR) last issued 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 company had revenue of $5.09 billion during the quarter. On average, analysts predict that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

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