RPG Investment Advisory LLC Sells 64,644 Shares of Baker Hughes (NASDAQ:BKR)

RPG Investment Advisory LLC lowered its position in shares of Baker Hughes (NASDAQ:BKR) by 13.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 416,243 shares of the company’s stock after selling 64,644 shares during the period. Baker Hughes comprises about 2.1% of RPG Investment Advisory LLC’s investment portfolio, making the stock its 14th biggest holding. RPG Investment Advisory LLC’s holdings in Baker Hughes were worth $15,047,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new position in shares of Baker Hughes during the third quarter valued at approximately $30,000. New Covenant Trust Company N.A. purchased a new position in Baker Hughes during the 1st quarter valued at $34,000. Alta Advisers Ltd bought a new position in Baker Hughes in the 2nd quarter worth $42,000. Headlands Technologies LLC purchased a new stake in shares of Baker Hughes in the 2nd quarter worth about $48,000. Finally, Quarry LP boosted its stake in shares of Baker Hughes by 81.1% during the 2nd quarter. Quarry LP now owns 1,594 shares of the company’s stock valued at $56,000 after purchasing an additional 714 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Wall Street Analyst Weigh In

BKR has been the subject of several research analyst reports. UBS Group lowered their price objective on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. TD Cowen lifted their price target on Baker Hughes from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Wells Fargo & Company upgraded Baker Hughes from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $40.00 to $42.00 in a report on Wednesday, September 25th. Benchmark restated a “buy” rating and set a $42.00 target price on shares of Baker Hughes in a report on Thursday, October 24th. Finally, Susquehanna upped their target price on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a “positive” rating in a research report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $44.12.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $43.67 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30. The firm has a market cap of $43.21 billion, a price-to-earnings ratio of 19.58, a price-to-earnings-growth ratio of 0.75 and a beta of 1.38. The business has a 50-day simple moving average of $36.75 and a two-hundred day simple moving average of $34.94. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $44.49.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results 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. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The firm had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.21 billion. During the same period last year, the business posted $0.42 EPS. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, analysts expect that Baker Hughes will post 2.29 earnings per share for the current year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 4th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, November 4th. This represents a $0.84 annualized dividend and a yield of 1.92%. Baker Hughes’s dividend payout ratio (DPR) is 37.67%.

Baker Hughes 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.