Commonwealth Equity Services LLC Sells 26,530 Shares of Baker Hughes Company $BKR

Commonwealth Equity Services LLC trimmed its position in shares of Baker Hughes Company (NASDAQ:BKR) by 16.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 139,223 shares of the company’s stock after selling 26,530 shares during the period. Commonwealth Equity Services LLC’s holdings in Baker Hughes were worth $6,783,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Forum Financial Management LP increased its stake in Baker Hughes by 1.4% in the 2nd quarter. Forum Financial Management LP now owns 17,255 shares of the company’s stock worth $662,000 after buying an additional 233 shares in the last quarter. Steward Partners Investment Advisory LLC grew its position in shares of Baker Hughes by 4.2% during the second quarter. Steward Partners Investment Advisory LLC now owns 6,790 shares of the company’s stock worth $260,000 after purchasing an additional 275 shares in the last quarter. CWM LLC grew its position in shares of Baker Hughes by 0.6% during the third quarter. CWM LLC now owns 44,731 shares of the company’s stock worth $2,179,000 after purchasing an additional 287 shares in the last quarter. V Square Quantitative Management LLC raised its stake in Baker Hughes by 1.4% during the 2nd quarter. V Square Quantitative Management LLC now owns 21,758 shares of the company’s stock valued at $834,000 after purchasing an additional 292 shares during the period. Finally, Moody National Bank Trust Division lifted its holdings in Baker Hughes by 5.9% in the 2nd quarter. Moody National Bank Trust Division now owns 5,351 shares of the company’s stock worth $205,000 after purchasing an additional 296 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Performance

Baker Hughes stock opened at $48.97 on Wednesday. The company’s 50-day moving average price is $47.76 and its 200-day moving average price is $45.88. 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 company has a market cap of $48.32 billion, a PE ratio of 16.89, a price-to-earnings-growth ratio of 1.68 and a beta of 0.89. Baker Hughes Company has a twelve month low of $33.60 and a twelve month high of $51.12.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Thursday, October 23rd. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.62 by $0.06. Baker Hughes had a return on equity of 14.22% and a net margin of 10.43%.The company had revenue of $7.01 billion during the quarter, compared to analyst estimates of $6.81 billion. During the same quarter last year, the business posted $0.67 earnings per share. The firm’s revenue was up 1.5% on a year-over-year basis. On average, equities research analysts forecast that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Tuesday, November 4th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, November 4th. This represents a $0.92 annualized dividend and a dividend yield of 1.9%. Baker Hughes’s payout ratio is currently 31.72%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on BKR shares. Citigroup increased their price objective on shares of Baker Hughes from $55.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Piper Sandler raised their target price on shares of Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Bank of America boosted their price target on shares of Baker Hughes from $52.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, October 14th. JPMorgan Chase & Co. increased their price objective on shares of Baker Hughes from $52.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, September 30th. Finally, UBS Group lifted their target price on Baker Hughes from $48.00 to $54.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. Twenty-three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $53.92.

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.