Everence Capital Management Inc. Raises Stock Holdings in Baker Hughes (NASDAQ:BKR)

Everence Capital Management Inc. increased its position in shares of Baker Hughes (NASDAQ:BKR) by 41.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 158,980 shares of the company’s stock after acquiring an additional 46,230 shares during the quarter. Everence Capital Management Inc.’s holdings in Baker Hughes were worth $5,747,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its holdings in Baker Hughes by 32.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock valued at $581,729,000 after buying an additional 4,207,973 shares during the period. Legal & General Group Plc raised its stake in shares of Baker Hughes by 8.6% in the 2nd quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock valued at $306,801,000 after acquiring an additional 692,859 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Baker Hughes by 7.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock valued at $348,074,000 after acquiring an additional 680,621 shares in the last quarter. Clearbridge Investments LLC boosted its position in Baker Hughes by 10.2% during the 1st quarter. Clearbridge Investments LLC now owns 6,609,115 shares of the company’s stock worth $221,405,000 after purchasing an additional 612,715 shares during the period. Finally, Intermede Investment Partners Ltd increased its holdings in Baker Hughes by 16.5% in the 1st quarter. Intermede Investment Partners Ltd now owns 4,284,361 shares of the company’s stock valued at $143,526,000 after purchasing an additional 606,671 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Performance

BKR stock traded down $0.04 during trading on Monday, hitting $36.36. 1,419,824 shares of the company’s stock traded hands, compared to its average volume of 7,197,103. The stock has a market capitalization of $36.29 billion, a price-to-earnings ratio of 20.34, a price-to-earnings-growth ratio of 0.61 and a beta of 1.38. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $39.05. The stock has a fifty day moving average price of $35.52 and a two-hundred day moving average price of $34.30. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 0.37.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results 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 business had revenue of $7.10 billion for the quarter, compared to analysts’ expectations of $6.81 billion. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The business’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.39 EPS. As a group, equities analysts anticipate that Baker Hughes will post 2.25 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Tuesday, August 6th were given a dividend of $0.21 per share. The ex-dividend date was Tuesday, August 6th. This represents a $0.84 annualized dividend and a dividend yield of 2.31%. Baker Hughes’s dividend payout ratio is currently 46.93%.

Insider Buying and Selling

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $35.00, for a total transaction of $4,000,010.00. Following the completion of the transaction, the chief executive officer now directly owns 502,053 shares of the company’s stock, valued at $17,571,855. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BKR. Susquehanna upped their target price on Baker Hughes from $40.00 to $46.00 and gave the stock a “positive” rating in a research report on Monday, July 29th. Barclays lowered their price objective on shares of Baker Hughes from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Jefferies Financial Group boosted their target price on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Royal Bank of Canada raised their price target on shares of Baker Hughes from $39.00 to $43.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Finally, UBS Group dropped their price target on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. Two analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.59.

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.