Stephens Investment Management Group LLC Buys 31,852 Shares of Baker Hughes (NASDAQ:BKR)

Stephens Investment Management Group LLC grew its stake in shares of Baker Hughes (NASDAQ:BKR) by 8.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 400,603 shares of the company’s stock after acquiring an additional 31,852 shares during the period. Stephens Investment Management Group LLC’s holdings in Baker Hughes were worth $14,482,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of BKR. Wealth Enhancement Advisory Services LLC increased its position in shares of Baker Hughes by 8.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 23,332 shares of the company’s stock valued at $782,000 after buying an additional 1,829 shares during the period. Norden Group LLC bought a new stake in shares of Baker Hughes during the first quarter valued at about $2,392,000. Commonwealth Equity Services LLC increased its position in shares of Baker Hughes by 23.5% during the first quarter. Commonwealth Equity Services LLC now owns 30,644 shares of the company’s stock valued at $1,027,000 after buying an additional 5,839 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Baker Hughes by 9.3% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 28,491 shares of the company’s stock worth $954,000 after purchasing an additional 2,427 shares in the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of Baker Hughes by 0.6% during the first quarter. Nordea Investment Management AB now owns 1,467,661 shares of the company’s stock worth $49,167,000 after purchasing an additional 8,828 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors.

Insider Transactions at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 114,286 shares of the 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 sale, the chief executive officer now directly owns 502,053 shares of the company’s stock, valued at approximately $17,571,855. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on BKR shares. UBS Group cut their price objective on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. JPMorgan Chase & Co. boosted their price objective on Baker Hughes from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Barclays boosted their price objective on Baker Hughes from $41.00 to $46.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Evercore ISI boosted their price objective on Baker Hughes from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $43.00 price objective on shares of Baker Hughes in a report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.12.

Baker Hughes Price Performance

BKR opened at $37.85 on Friday. The stock has a fifty day simple moving average of $35.98 and a two-hundred day simple moving average of $34.53. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The company has a market cap of $37.60 billion, a price-to-earnings ratio of 16.97, a price-to-earnings-growth ratio of 0.64 and a beta of 1.38. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $39.05.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. The business had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.21 billion. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.42 earnings per share. Research analysts predict that Baker Hughes will post 2.28 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be issued a $0.21 dividend. The ex-dividend date is Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a yield of 2.22%. Baker Hughes’s dividend payout ratio (DPR) is 37.67%.

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.