Keybank National Association OH Grows Stock Holdings in Baker Hughes (NASDAQ:BKR)

Keybank National Association OH raised its position in shares of Baker Hughes (NASDAQ:BKR – Get Rating) by 21.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,314 shares of the company’s stock after purchasing an additional 3,451 shares during the period. Keybank National Association OH’s holdings in Baker Hughes were worth $405,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of BKR. JPMorgan Chase & Co. increased its holdings in shares of Baker Hughes by 96.8% in the second quarter. JPMorgan Chase & Co. now owns 37,882,259 shares of the company’s stock worth $1,093,660,000 after buying an additional 18,629,874 shares during the period. Capital World Investors increased its holdings in shares of Baker Hughes by 9.4% in the first quarter. Capital World Investors now owns 116,492,563 shares of the company’s stock worth $4,241,658,000 after buying an additional 10,021,569 shares during the period. Capital Research Global Investors increased its holdings in shares of Baker Hughes by 9.9% in the first quarter. Capital Research Global Investors now owns 94,780,843 shares of the company’s stock worth $3,450,984,000 after buying an additional 8,526,488 shares during the period. FMR LLC increased its holdings in shares of Baker Hughes by 41.2% in the second quarter. FMR LLC now owns 26,877,366 shares of the company’s stock worth $775,950,000 after buying an additional 7,836,906 shares during the period. Finally, Franklin Resources Inc. increased its holdings in shares of Baker Hughes by 214.6% in the second quarter. Franklin Resources Inc. now owns 10,398,098 shares of the company’s stock worth $300,193,000 after buying an additional 7,092,424 shares during the period. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BKR. Bank of America lifted their price objective on Baker Hughes from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, October 20th. Morgan Stanley raised their target price on Baker Hughes from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 4th. ATB Capital cut their target price on Baker Hughes to $37.00 in a research note on Thursday, October 20th. Barclays cut their target price on Baker Hughes to $38.00 in a research note on Thursday, October 20th. Finally, Piper Sandler raised their target price on Baker Hughes from $30.00 to $34.00 and gave the stock an “overweight” rating in a research note on Friday, November 18th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Baker Hughes has an average rating of “Moderate Buy” and a consensus target price of $34.70.

Baker Hughes Stock Performance

Shares of BKR opened at $30.83 on Thursday. The company has a quick ratio of 1.08, a current ratio of 1.51 and a debt-to-equity ratio of 0.46. The business’s 50 day moving average price is $29.21 and its 200-day moving average price is $26.63. Baker Hughes has a 52 week low of $20.42 and a 52 week high of $39.78. The stock has a market cap of $31.09 billion, a P/E ratio of -67.02 and a beta of 1.48.

Baker Hughes (NASDAQ:BKR – Get Rating) last issued its quarterly earnings results on Wednesday, October 19th. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.01. Baker Hughes had a positive return on equity of 4.77% and a negative net margin of 2.36%. The firm had revenue of $5.36 billion for the quarter, compared to analysts’ expectations of $5.43 billion. During the same period in the previous year, the firm posted $0.16 EPS. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities research analysts anticipate that Baker Hughes will post 0.93 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 18th. Investors of record on Monday, November 7th were issued a $0.19 dividend. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date was Friday, November 4th. Baker Hughes’s payout ratio is presently -165.22%.

Insider Buying and Selling

In related news, Director Gregory D. Brenneman sold 85,000 shares of the business’s stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $31.23, for a total value of $2,654,550.00. Following the completion of the transaction, the director now directly owns 16,842 shares in the company, valued at approximately $525,975.66. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Baker Hughes news, EVP Rami Qasem sold 72,000 shares of the business’s stock in a transaction on Friday, November 11th. The shares were sold at an average price of $31.21, for a total transaction of $2,247,120.00. Following the completion of the sale, the executive vice president now directly owns 32,523 shares in the company, valued at approximately $1,015,042.83. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Gregory D. Brenneman sold 85,000 shares of the business’s stock in a transaction on Friday, November 11th. The shares were sold at an average price of $31.23, for a total transaction of $2,654,550.00. Following the sale, the director now owns 16,842 shares of the company’s stock, valued at $525,975.66. The disclosure for this sale can be found here. Insiders sold a total of 285,303 shares of company stock worth $8,816,980 in the last three months. Insiders own 0.34% of the company’s stock.

Baker Hughes Company Profile

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Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. It operates through two segments: Oilfield Services & Equipment and Industrial & Energy Technology. The company offers exploration, drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, wireline services, downhole completion tools and systems, wellbore intervention tools and services, pressure pumping systems, oilfield and industrial chemicals, and artificial lift technologies for oil and natural gas, and oilfield service companies.