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

Osaic Holdings Inc. lessened its stake in Baker Hughes Company (NASDAQ:BKR) by 16.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 reporting period.

A number of other large investors have also recently bought and sold shares of BKR. Norges Bank acquired a new position in shares of Baker Hughes in the 2nd quarter valued at approximately $862,722,000. First Trust Advisors LP boosted its position in shares of Baker Hughes by 76.0% during the 2nd quarter. First Trust Advisors LP now owns 7,419,033 shares of the company’s stock worth $284,446,000 after acquiring an additional 3,203,942 shares in the last quarter. Sei Investments Co. increased its stake in Baker Hughes by 247.5% in the second quarter. Sei Investments Co. now owns 3,134,494 shares of the company’s stock valued at $120,177,000 after acquiring an additional 2,232,394 shares during the last quarter. American Century Companies Inc. raised its position in Baker Hughes by 38.0% during the second quarter. American Century Companies Inc. now owns 7,602,803 shares of the company’s stock valued at $291,492,000 after purchasing an additional 2,094,079 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Baker Hughes by 18.9% during the second quarter. Invesco Ltd. now owns 12,834,534 shares of the company’s stock worth $492,076,000 after purchasing an additional 2,044,402 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on BKR. Capital One Financial lifted their price target on Baker Hughes from $49.00 to $53.00 and gave the company an “overweight” rating in a research note on Tuesday, September 16th. Stifel Nicolaus raised their price objective on Baker Hughes from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, October 27th. Piper Sandler lifted their target price on Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. HSBC increased their target price on shares of Baker Hughes from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, October 27th. Finally, UBS Group raised their price target on shares of Baker Hughes from $48.00 to $54.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. Twenty-three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $53.92.

Baker Hughes Stock Performance

Shares of BKR stock opened at $45.25 on Friday. 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. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. The business’s 50-day moving average price is $47.70 and its 200-day moving average price is $45.01. Baker Hughes Company has a 12 month low of $33.60 and a 12 month high of $51.12.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Friday, November 18th. The company reported $0.16 earnings per share (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. Equities research analysts forecast that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Tuesday, November 4th were issued a dividend of $0.23 per share. 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 payout ratio is 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.