Empowered Funds LLC Boosts Stock Position in Baker Hughes (NASDAQ:BKR)

Empowered Funds LLC raised its stake in Baker Hughes (NASDAQ:BKR) by 1,586.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 265,828 shares of the company’s stock after purchasing an additional 250,067 shares during the quarter. Empowered Funds LLC’s holdings in Baker Hughes were worth $9,610,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of BKR. Orion Portfolio Solutions LLC increased its stake in shares of Baker Hughes by 27.1% during the first quarter. Orion Portfolio Solutions LLC now owns 31,003 shares of the company’s stock worth $1,039,000 after acquiring an additional 6,604 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its position in Baker Hughes by 31.7% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 743,238 shares of the company’s stock worth $24,885,000 after purchasing an additional 178,881 shares during the period. Edgestream Partners L.P. raised its stake in shares of Baker Hughes by 126.6% during the 1st quarter. Edgestream Partners L.P. now owns 34,578 shares of the company’s stock worth $1,158,000 after buying an additional 19,320 shares in the last quarter. Rockport Wealth LLC acquired a new stake in shares of Baker Hughes in the 1st quarter valued at approximately $867,000. Finally, O Shaughnessy Asset Management LLC boosted its stake in shares of Baker Hughes by 26.2% in the first quarter. O Shaughnessy Asset Management LLC now owns 49,566 shares of the company’s stock valued at $1,660,000 after buying an additional 10,278 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Wall Street Analysts Forecast Growth

BKR has been the subject of several research analyst reports. The Goldman Sachs Group increased their price objective on Baker Hughes from $39.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. UBS Group lowered their target price on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. JPMorgan Chase & Co. lifted their price target on shares of Baker Hughes from $42.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Benchmark restated a “buy” rating and issued a $42.00 price target on shares of Baker Hughes in a report on Thursday, October 24th. Finally, Morgan Stanley lifted their price objective on Baker Hughes from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Baker Hughes presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.59.

Baker Hughes Stock Performance

NASDAQ:BKR opened at $42.94 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. The firm has a market cap of $42.49 billion, a PE ratio of 19.26, a P/E/G ratio of 0.73 and a beta of 1.38. The firm has a 50 day simple moving average of $37.48 and a 200-day simple moving average of $35.19. Baker Hughes has a 1-year low of $28.32 and a 1-year high of $44.49.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.06. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The company had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.21 billion. During the same period in the previous year, the firm posted $0.42 EPS. Baker Hughes’s revenue was up 4.0% on a year-over-year basis. On average, equities analysts expect that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date was Monday, November 4th. Baker Hughes’s payout ratio 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.