Retireful LLC Invests $1.09 Million in Baker Hughes Company $BKR

Retireful LLC bought a new position in shares of Baker Hughes Company (NASDAQ:BKR) during the third quarter, HoldingsChannel.com reports. The firm bought 22,419 shares of the company’s stock, valued at approximately $1,092,000.

A number of other hedge funds have also modified their holdings of BKR. Chesapeake Asset Management LLC increased its stake in shares of Baker Hughes by 425.2% in the third quarter. Chesapeake Asset Management LLC now owns 18,223 shares of the company’s stock worth $888,000 after purchasing an additional 14,753 shares in the last quarter. Valley National Advisers Inc. boosted its holdings in Baker Hughes by 48.7% in the 3rd quarter. Valley National Advisers Inc. now owns 42,024 shares of the company’s stock worth $2,046,000 after buying an additional 13,757 shares during the period. Perigon Wealth Management LLC bought a new position in Baker Hughes in the 3rd quarter worth $226,000. Sowell Financial Services LLC increased its stake in Baker Hughes by 4.0% in the 3rd quarter. Sowell Financial Services LLC now owns 27,307 shares of the company’s stock worth $1,330,000 after buying an additional 1,045 shares in the last quarter. Finally, Sapient Capital LLC bought a new stake in Baker Hughes during the third quarter valued at about $201,000. 92.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BKR has been the subject of a number of recent analyst reports. Capital One Financial upped their price objective on Baker Hughes from $49.00 to $53.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 16th. JPMorgan Chase & Co. boosted their price target on Baker Hughes from $52.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, September 30th. Piper Sandler upped their price target on Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Evercore ISI set a $54.00 price objective on shares of Baker Hughes in a research report on Monday, October 27th. Finally, Citigroup boosted their target price on shares of Baker Hughes from $55.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Twenty-three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Baker Hughes presently has a consensus rating of “Moderate Buy” and an average price target of $53.92.

Baker Hughes Stock Down 0.1%

NASDAQ BKR opened at $45.25 on Monday. The company has a market capitalization of $44.65 billion, a P/E ratio of 15.60, a P/E/G ratio of 1.64 and a beta of 0.90. The stock has a 50 day moving average price of $47.70 and a 200-day moving average price of $45.09. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41. Baker Hughes Company has a one year low of $33.60 and a one year high of $51.12.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Friday, November 18th. The company reported $0.16 EPS for the quarter. The business had revenue of $5.09 billion during the quarter. Baker Hughes had a net margin of 10.43% and a return on equity of 14.22%. As a group, equities analysts predict that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Tuesday, November 4th were given a $0.23 dividend. The ex-dividend date was Tuesday, November 4th. This represents a $0.92 dividend on an annualized basis and a yield of 2.0%. Baker Hughes’s dividend payout ratio (DPR) 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.