Waycross Partners LLC Purchases New Shares in Baker Hughes Company $BKR

Waycross Partners LLC purchased a new position in Baker Hughes Company (NASDAQ:BKR) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 33,239 shares of the company’s stock, valued at approximately $1,825,000.

Several other large investors also recently bought and sold shares of the company. Amundi lifted its position in shares of Baker Hughes by 28.2% during the first quarter. Amundi now owns 10,946,464 shares of the company’s stock worth $668,282,000 after purchasing an additional 2,409,978 shares in the last quarter. First Trust Advisors LP grew its holdings in Baker Hughes by 4.0% during the 1st quarter. First Trust Advisors LP now owns 9,663,737 shares of the company’s stock valued at $589,971,000 after purchasing an additional 374,974 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Baker Hughes by 1.8% during the 1st quarter. Bank of New York Mellon Corp now owns 6,738,599 shares of the company’s stock valued at $411,391,000 after purchasing an additional 119,388 shares in the last quarter. Perpetual Ltd grew its holdings in Baker Hughes by 24.0% during the 3rd quarter. Perpetual Ltd now owns 3,958,604 shares of the company’s stock valued at $217,327,000 after purchasing an additional 765,582 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in Baker Hughes by 5.1% during the 1st quarter. Bank of America Corp DE now owns 3,837,618 shares of the company’s stock worth $234,287,000 after buying an additional 184,897 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BKR. Piper Sandler cut their price objective on shares of Baker Hughes from $73.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, October 29th. Zacks Research downgraded Baker Hughes from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Stifel Nicolaus lifted their target price on Baker Hughes from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. UBS Group cut their price target on Baker Hughes from $72.00 to $69.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 30th. Finally, Barclays reduced their price target on Baker Hughes from $72.00 to $62.00 and set an “equal weight” rating for the company in a report on Thursday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $70.27.

Baker Hughes Stock Up 3.6%

NASDAQ BKR traded up $1.67 during trading hours on Friday, reaching $47.87. 12,646,896 shares of the company traded hands, compared to its average volume of 7,374,273. The stock has a market capitalization of $47.52 billion, a PE ratio of 16.51, a PEG ratio of 2.55 and a beta of 1.07. The company has a current ratio of 1.24, a quick ratio of 0.90 and a debt-to-equity ratio of 0.85. Baker Hughes Company has a 12 month low of $44.26 and a 12 month high of $70.41. The company has a 50 day moving average of $56.92 and a two-hundred day moving average of $60.03.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Tuesday, October 27th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.09. The company had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.74 billion. Baker Hughes had a net margin of 10.08% and a return on equity of 13.55%. The company’s revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.68 EPS. As a group, equities analysts expect that Baker Hughes Company will post 2.56 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Tuesday, November 10th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Tuesday, November 10th. Baker Hughes’s payout ratio is currently 31.72%.

Insiders Place Their Bets

In other news, Director John Rice acquired 10,000 shares of the business’s stock in a transaction on Tuesday, November 3rd. The shares were purchased at an average price of $53.10 per share, for a total transaction of $531,000.00. Following the completion of the purchase, the director directly owned 77,315 shares of the company’s stock, valued at $4,105,426.50. This represents a 14.86% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

Baker Hughes Company Profile

Baker Hughes (NASDAQ: BKR) is an energy technology company that provides products and services to the oil and gas industry and other industrial markets. Its offerings include equipment and services used across the energy value chain, from exploration and production to transportation and processing.

The company also develops turbomachinery, industrial equipment, digital technologies and solutions for energy and industrial applications. Its portfolio includes technologies designed to support more efficient operations and lower-emissions energy systems.

Baker Hughes serves customers around the world.