Quintet Private Bank Europe S.A. Makes New Investment in Baker Hughes Company $BKR

Quintet Private Bank Europe S.A. bought a new position in shares of Baker Hughes Company (NASDAQ:BKR) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 8,930 shares of the company’s stock, valued at approximately $490,000.

Other institutional investors have also added to or reduced their stakes in the company. MCF Advisors LLC boosted its stake in shares of Baker Hughes by 121.4% during the second quarter. MCF Advisors LLC now owns 476 shares of the company’s stock valued at $26,000 after purchasing an additional 261 shares in the last quarter. Olistico Wealth LLC lifted its holdings in Baker Hughes by 209.4% during the third quarter. Olistico Wealth LLC now owns 495 shares of the company’s stock worth $27,000 after buying an additional 335 shares during the period. Elevation Wealth Partners LLC boosted its position in Baker Hughes by 260.1% during the 3rd quarter. Elevation Wealth Partners LLC now owns 497 shares of the company’s stock valued at $27,000 after acquiring an additional 359 shares in the last quarter. Meeder Asset Management Inc. boosted its position in Baker Hughes by 49.0% during the 1st quarter. Meeder Asset Management Inc. now owns 651 shares of the company’s stock valued at $40,000 after acquiring an additional 214 shares in the last quarter. Finally, Jones Financial Companies Lllp purchased a new position in shares of Baker Hughes in the 2nd quarter valued at $39,000. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Performance

BKR stock traded up $0.77 during midday trading on Thursday, reaching $56.18. The stock had a trading volume of 2,484,178 shares, compared to its average volume of 8,759,933. The firm has a fifty day simple moving average of $60.59 and a two-hundred day simple moving average of $61.10. The stock has a market cap of $55.77 billion, a PE ratio of 18.14, a P/E/G ratio of 2.71 and a beta of 1.04. Baker Hughes Company has a 52-week low of $43.92 and a 52-week high of $70.41. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.76 and a current ratio of 2.09.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Monday, July 27th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.13. The company had revenue of $6.74 billion during the quarter, compared to analyst estimates of $6.54 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 13.85%. Baker Hughes’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period last year, the firm posted $0.63 EPS. As a group, equities research analysts anticipate that Baker Hughes Company will post 2.58 EPS for the current year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Friday, August 7th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Friday, August 7th. Baker Hughes’s dividend payout ratio is presently 29.68%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BKR shares. Zacks Research raised Baker Hughes from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 16th. The Goldman Sachs Group reissued a “buy” rating and set a $71.00 price target on shares of Baker Hughes in a research report on Tuesday, September 29th. UBS Group cut their price objective on shares of Baker Hughes from $72.00 to $69.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 30th. Wall Street Zen lowered shares of Baker Hughes from a “buy” rating to a “hold” rating in a research note on Wednesday, August 5th. Finally, Piper Sandler raised their target price on shares of Baker Hughes from $71.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, July 28th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $71.41.

Baker Hughes Company Profile

Baker Hughes Company (NASDAQ:BKR) is an energy technology company that provides equipment, services and digital solutions to oil and gas producers, industrial companies and other energy customers. Its offerings support activities across the energy value chain, including exploration and production, drilling, well construction, production optimization, and the transportation and processing of hydrocarbons.

The company supplies oilfield services and equipment such as drilling systems, well-completion technologies, artificial-lift systems, subsea production equipment and well-intervention services.