Donoghue Forlines LLC Takes Position in Baker Hughes Company $BKR

Donoghue Forlines LLC purchased a new stake in Baker Hughes Company (NASDAQ:BKR) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 46,282 shares of the company’s stock, valued at approximately $2,255,000. Baker Hughes makes up approximately 0.7% of Donoghue Forlines LLC’s portfolio, making the stock its 29th largest position.

Several other hedge funds also recently added to or reduced their stakes in BKR. Woodline Partners LP grew its stake in Baker Hughes by 40.8% in the first quarter. Woodline Partners LP now owns 83,650 shares of the company’s stock worth $3,676,000 after purchasing an additional 24,225 shares in the last quarter. Focus Partners Wealth lifted 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 buying an additional 986 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of Baker Hughes by 16.8% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 3,895 shares of the company’s stock worth $149,000 after acquiring an additional 561 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Baker Hughes by 12.5% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 125,459 shares of the company’s stock valued at $4,810,000 after acquiring an additional 13,960 shares during the last quarter. Finally, Swedbank AB raised its position in shares of Baker Hughes by 4.2% during the 2nd quarter. Swedbank AB now owns 777,261 shares of the company’s stock valued at $29,800,000 after acquiring an additional 31,136 shares in the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BKR. Cowen restated a “buy” rating on shares of Baker Hughes in a research report on Wednesday, January 7th. Evercore ISI set a $54.00 price target on Baker Hughes in a research report on Monday, October 27th. Royal Bank Of Canada restated an “outperform” rating and set a $57.00 price objective on shares of Baker Hughes in a research report on Thursday. Jefferies Financial Group increased their target price on Baker Hughes from $58.00 to $59.00 and gave the stock a “buy” rating in a research report on Thursday, November 20th. Finally, JPMorgan Chase & Co. boosted their price target 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. Twenty-three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $54.04.

Baker Hughes Price Performance

Shares of NASDAQ BKR opened at $51.78 on Friday. Baker Hughes Company has a twelve month low of $33.60 and a twelve month high of $52.33. 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 firm has a 50-day moving average of $47.99 and a two-hundred day moving average of $46.09. The company has a market capitalization of $51.10 billion, a price-to-earnings ratio of 17.86, a PEG ratio of 1.64 and a beta of 0.89.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Thursday, October 23rd. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.62 by $0.06. The business had revenue of $7.01 billion during 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%. The business’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.67 earnings per share. As a group, analysts expect that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Tuesday, November 4th were paid a dividend of $0.23 per share. 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 currently 31.72%.

Baker Hughes 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.