Baker Hughes Company $BKR Shares Sold by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC decreased its position in shares of Baker Hughes Company (NASDAQ:BKR) by 9.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 96,844 shares of the company’s stock after selling 10,689 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in Baker Hughes were worth $5,317,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MCF Advisors LLC lifted its holdings in shares of Baker Hughes by 121.4% in the 2nd quarter. MCF Advisors LLC now owns 476 shares of the company’s stock worth $26,000 after acquiring an additional 261 shares during the last quarter. Olistico Wealth LLC boosted its stake in shares of Baker Hughes by 209.4% during the 3rd quarter. Olistico Wealth LLC now owns 495 shares of the company’s stock worth $27,000 after purchasing an additional 335 shares during the period. Elevation Wealth Partners LLC grew its holdings in Baker Hughes by 260.1% during the 3rd quarter. Elevation Wealth Partners LLC now owns 497 shares of the company’s stock valued at $27,000 after purchasing an additional 359 shares during the last quarter. Latitude Advisors LLC bought a new position in Baker Hughes during the 3rd quarter valued at about $27,000. Finally, Godsey & Gibb Inc. bought a new position in Baker Hughes during the 3rd quarter valued at about $33,000. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Analyst Ratings Changes

BKR has been the subject of several analyst reports. Piper Sandler decreased their price objective on shares of Baker Hughes from $73.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, October 29th. Royal Bank Of Canada cut their target price on Baker Hughes from $71.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, October 29th. Barclays reduced their price target on Baker Hughes from $72.00 to $62.00 and set an “equal weight” rating on the stock in a report on Thursday, October 29th. UBS Group decreased their price target on Baker Hughes from $72.00 to $69.00 and set a “neutral” rating for the company in a research note on Wednesday, September 30th. Finally, The Goldman Sachs Group began coverage on Baker Hughes in a report on Tuesday, September 29th. They set a “buy” rating and a $71.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $70.27.

Baker Hughes Stock Performance

Baker Hughes stock opened at $47.77 on Wednesday. The company has a 50 day moving average price of $56.32 and a 200-day moving average price of $59.97. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.90 and a current ratio of 1.24. Baker Hughes Company has a fifty-two week low of $44.26 and a fifty-two week high of $70.41. The company has a market capitalization of $47.44 billion, a PE ratio of 16.47, a P/E/G ratio of 2.31 and a beta of 1.07.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Tuesday, October 27th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.09. The firm had revenue of $8.03 billion during the quarter, compared to analyst estimates of $7.74 billion. Baker Hughes had a return on equity of 13.55% and a net margin of 10.08%. Baker Hughes’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.68 earnings per share. As a group, equities analysts forecast that Baker Hughes Company will post 2.56 earnings per share for the current year.

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Tuesday, November 10th will be paid a dividend of $0.23 per share. The ex-dividend date is Tuesday, November 10th. This represents a $0.92 annualized dividend and a dividend yield of 1.9%. Baker Hughes’s dividend payout ratio (DPR) is currently 31.72%.

Insiders Place Their Bets

In other Baker Hughes news, Director John Rice acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, November 3rd. The stock was bought at an average cost of $53.10 per share, with a total value of $531,000.00. Following the completion of the purchase, the director directly owned 77,315 shares in the company, valued at $4,105,426.50. The trade was a 14.86% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is currently owned by company insiders.

Baker Hughes Company Profile

Baker Hughes (NASDAQ: BKR) is an energy technology company that provides products and services to the oil and gas industry and other industrial markets. Its offerings include equipment and services used across the energy value chain, from exploration and production to transportation and processing. The company also develops turbomachinery, industrial equipment, digital technologies and solutions for energy and industrial applications. Its portfolio includes technologies designed to support more efficient operations and lower-emissions energy systems.