Baker Hughes Company $BKR Stock Holdings Lifted by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC increased its position in Baker Hughes Company (NASDAQ:BKR) by 82.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 63,438 shares of the company’s stock after purchasing an additional 28,606 shares during the period. Concurrent Investment Advisors LLC’s holdings in Baker Hughes were worth $3,091,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in BKR. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of Baker Hughes by 104.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock worth $32,000 after purchasing an additional 337 shares during the period. Harbour Investments Inc. lifted its position in Baker Hughes by 61.7% in the 2nd quarter. Harbour Investments Inc. now owns 854 shares of the company’s stock worth $33,000 after buying an additional 326 shares in the last quarter. LFA Lugano Financial Advisors SA acquired a new stake in shares of Baker Hughes during the 2nd quarter valued at $36,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Baker Hughes during the 2nd quarter valued at $36,000. Finally, LRI Investments LLC raised its holdings in shares of Baker Hughes by 59.3% during the second quarter. LRI Investments LLC now owns 1,032 shares of the company’s stock worth $40,000 after acquiring an additional 384 shares in the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Trading Up 2.1%

NASDAQ:BKR opened at $49.98 on Thursday. The company’s 50 day moving average is $47.82 and its 200-day moving average is $45.90. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33. Baker Hughes Company has a 12 month low of $33.60 and a 12 month high of $51.12. The firm has a market cap of $49.32 billion, a price-to-earnings ratio of 17.23, a P/E/G ratio of 1.56 and a beta of 0.89.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Thursday, October 23rd. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.06. The business had revenue of $7.01 billion for the quarter, compared to analyst estimates of $6.81 billion. Baker Hughes had a net margin of 10.43% and a return on equity of 14.22%. Baker Hughes’s revenue was up 1.5% compared to the same quarter last year. During the same period last year, the business posted $0.67 EPS. Equities analysts anticipate that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have commented on BKR. HSBC boosted their target price on Baker Hughes from $54.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, October 27th. Zephirin Group boosted their price target on Baker Hughes from $37.00 to $40.00 and gave the company a “hold” rating in a research note on Thursday, October 2nd. UBS Group raised their price objective on shares of Baker Hughes from $48.00 to $54.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. BMO Capital Markets lifted their target price on shares of Baker Hughes from $53.00 to $55.00 in a research note on Tuesday, November 11th. Finally, Piper Sandler increased their price target 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. Twenty-three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Baker Hughes presently has an average rating of “Moderate Buy” and an average 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.