Cerity Partners LLC Grows Position in Baker Hughes Company $BKR

Cerity Partners LLC grew its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 92.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 257,462 shares of the company’s stock after buying an additional 123,698 shares during the quarter. Cerity Partners LLC’s holdings in Baker Hughes were worth $12,544,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Baker Hughes in the 1st quarter worth $319,000. Woodline Partners LP raised its holdings in shares of Baker Hughes by 40.8% in the first quarter. Woodline Partners LP now owns 83,650 shares of the company’s stock valued at $3,676,000 after acquiring an additional 24,225 shares in the last quarter. SCS Capital Management LLC purchased a new stake in Baker Hughes in the first quarter worth about $272,000. Focus Partners Wealth grew its holdings in Baker Hughes by 5.6% during the 1st quarter. Focus Partners Wealth now owns 18,481 shares of the company’s stock worth $812,000 after acquiring an additional 986 shares in the last quarter. Finally, Intech Investment Management LLC grew its holdings in Baker Hughes by 56.8% during the 1st quarter. Intech Investment Management LLC now owns 91,712 shares of the company’s stock worth $4,031,000 after acquiring an additional 33,219 shares in the last quarter. 92.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on BKR shares. Cowen reissued a “buy” rating on shares of Baker Hughes in a report on Wednesday. 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 report on Tuesday, September 16th. Susquehanna upped their price objective on Baker Hughes from $56.00 to $58.00 and gave the stock a “positive” rating in a research note on Wednesday. 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 note on Thursday, October 16th. Finally, Jefferies Financial Group increased their price target on shares of Baker Hughes from $58.00 to $59.00 and gave the company a “buy” rating in a research report on Thursday, November 20th. 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $53.92.

Baker Hughes Stock Performance

BKR opened at $49.97 on Friday. The firm has a fifty day moving average price of $47.71 and a 200 day moving average price of $45.67. Baker Hughes Company has a 1 year low of $33.60 and a 1 year high of $51.12. The stock has a market cap of $49.31 billion, a P/E ratio of 17.23, a P/E/G ratio of 1.76 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 (NASDAQ:BKR) last released its quarterly earnings results on Friday, November 18th. The company reported $0.16 EPS for the quarter. The company had revenue of $5.09 billion for the quarter. Baker Hughes had a net margin of 10.43% and a return on equity of 14.22%. Equities research analysts anticipate that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Tuesday, November 4th were issued a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, November 4th. This represents a $0.92 dividend on an annualized basis and a yield of 1.8%. Baker Hughes’s dividend payout ratio is presently 31.72%.

Baker Hughes Company Profile

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.