U S Global Investors Inc. Makes New Investment in Baker Hughes (NASDAQ:BKR)

U S Global Investors Inc. purchased a new position in shares of Baker Hughes (NASDAQ:BKR) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 10,000 shares of the company’s stock, valued at approximately $362,000.

Several other large investors have also recently made changes to their positions in BKR. Everence Capital Management Inc. boosted its holdings in Baker Hughes by 41.0% in the third quarter. Everence Capital Management Inc. now owns 158,980 shares of the company’s stock valued at $5,747,000 after acquiring an additional 46,230 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Baker Hughes by 11.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,495,752 shares of the company’s stock valued at $198,671,000 after purchasing an additional 572,943 shares during the last quarter. Blue Trust Inc. boosted its stake in Baker Hughes by 177.1% during the 3rd quarter. Blue Trust Inc. now owns 13,644 shares of the company’s stock valued at $480,000 after purchasing an additional 8,720 shares during the last quarter. V Square Quantitative Management LLC lifted its holdings in shares of Baker Hughes by 7.8% during the third quarter. V Square Quantitative Management LLC now owns 21,834 shares of the company’s stock valued at $789,000 after purchasing an additional 1,588 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Baker Hughes by 0.9% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 107,407 shares of the company’s stock worth $3,883,000 after acquiring an additional 944 shares during the period. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Price Performance

Shares of BKR traded down $0.13 during trading hours on Tuesday, hitting $36.32. 81,754 shares of the stock were exchanged, compared to its average volume of 7,180,404. The stock’s 50-day moving average price is $35.54 and its two-hundred day moving average price is $34.32. The company has a market cap of $36.25 billion, a price-to-earnings ratio of 20.29, a price-to-earnings-growth ratio of 0.61 and a beta of 1.38. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.27. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $39.05.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.08. The company had revenue of $7.10 billion for the quarter, compared to analyst estimates of $6.81 billion. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 earnings per share. Research analysts expect that Baker Hughes will post 2.25 earnings per share for the current year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Tuesday, August 6th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend was Tuesday, August 6th. Baker Hughes’s dividend payout ratio (DPR) is currently 46.93%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on BKR shares. UBS Group reduced their price objective on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. BMO Capital Markets lifted their price objective on Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. TD Cowen increased their target price on shares of Baker Hughes from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Evercore ISI lifted their price target on shares of Baker Hughes from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Finally, Morgan Stanley raised their price objective on shares of Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $43.59.

Insiders Place Their Bets

In other news, CEO Lorenzo Simonelli sold 114,286 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $35.00, for a total value of $4,000,010.00. Following the transaction, the chief executive officer now owns 502,053 shares of the company’s stock, valued at $17,571,855. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

Baker Hughes Company Profile

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.