MASTERINVEST Kapitalanlage GmbH Takes Position in Baker Hughes Company $BKR

MASTERINVEST Kapitalanlage GmbH purchased a new position in shares of Baker Hughes Company (NASDAQ:BKR) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 19,948 shares of the company’s stock, valued at approximately $972,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Brandywine Global Investment Management LLC raised its holdings in shares of Baker Hughes by 8.2% in the second quarter. Brandywine Global Investment Management LLC now owns 648,149 shares of the company’s stock valued at $24,850,000 after buying an additional 49,108 shares during the last quarter. Synergy Asset Management LLC bought a new stake in Baker Hughes during the 3rd quarter worth about $1,920,000. Schroder Investment Management Group increased its position in Baker Hughes by 0.6% in the 2nd quarter. Schroder Investment Management Group now owns 1,450,363 shares of the company’s stock valued at $55,607,000 after acquiring an additional 8,994 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of Baker Hughes by 8.7% in the second quarter. California Public Employees Retirement System now owns 1,800,362 shares of the company’s stock worth $69,026,000 after acquiring an additional 144,381 shares during the last quarter. Finally, Empowered Funds LLC raised its stake in shares of Baker Hughes by 422.3% in the second quarter. Empowered Funds LLC now owns 289,951 shares of the company’s stock worth $11,117,000 after acquiring an additional 234,440 shares during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BKR has been the topic of several research analyst reports. Bank of America increased their price target on shares of Baker Hughes from $52.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, October 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Baker Hughes in a report on Monday, December 29th. Piper Sandler lifted their target price on Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Stifel Nicolaus boosted their target price on Baker Hughes from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. Finally, Evercore ISI set a $54.00 price target on Baker Hughes in a research note on Monday, October 27th. Twenty-three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $53.92.

Baker Hughes Stock Performance

Shares of Baker Hughes stock opened at $49.97 on Friday. The firm has a fifty day moving average of $47.71 and a two-hundred day moving average of $45.67. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41. The stock has a market capitalization of $49.31 billion, a price-to-earnings ratio of 17.23, a PEG ratio of 1.76 and a beta of 0.89. Baker Hughes Company has a 52 week low of $33.60 and a 52 week high of $51.12.

Baker Hughes (NASDAQ:BKR) last announced 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 return on equity of 14.22% and a net margin of 10.43%. As a group, equities research analysts predict that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders 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 was Tuesday, November 4th. Baker Hughes’s payout ratio is presently 31.72%.

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.