Farther Finance Advisors LLC Buys 1,208 Shares of Baker Hughes (NASDAQ:BKR)

Farther Finance Advisors LLC increased its stake in shares of Baker Hughes (NASDAQ:BKR) by 51.1% during the 3rd quarter, Holdings Channel reports. The fund owned 3,574 shares of the company’s stock after acquiring an additional 1,208 shares during the period. Farther Finance Advisors LLC’s holdings in Baker Hughes were worth $129,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its holdings in Baker Hughes by 32.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock worth $581,729,000 after buying an additional 4,207,973 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Baker Hughes by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock worth $348,074,000 after buying an additional 680,621 shares during the last quarter. Legal & General Group Plc raised its holdings in Baker Hughes by 8.6% during the second quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock worth $306,801,000 after buying an additional 692,859 shares during the last quarter. American Century Companies Inc. raised its holdings in Baker Hughes by 3.1% during the second quarter. American Century Companies Inc. now owns 8,274,250 shares of the company’s stock worth $291,005,000 after buying an additional 248,122 shares during the last quarter. Finally, Clearbridge Investments LLC raised its holdings in Baker Hughes by 10.2% during the first quarter. Clearbridge Investments LLC now owns 6,609,115 shares of the company’s stock worth $221,405,000 after buying an additional 612,715 shares during the last quarter. 92.06% of the stock is owned by institutional investors.

Baker Hughes Stock Up 2.5 %

Shares of NASDAQ:BKR opened at $44.11 on Tuesday. The firm has a fifty day moving average price of $36.57 and a two-hundred day moving average price of $34.86. The company has a market cap of $43.65 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 0.73 and a beta of 1.38. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. Baker Hughes has a one year low of $28.32 and a one year high of $44.32.

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

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.90%. Baker Hughes’s dividend payout ratio (DPR) is currently 37.67%.

Analyst Ratings Changes

Several brokerages have recently commented on BKR. TD Cowen increased their target price on shares of Baker Hughes from $46.00 to $50.00 and gave the company a “buy” rating in a 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 for the company in a report on Wednesday, September 18th. Piper Sandler lowered their target price on shares of Baker Hughes from $45.00 to $44.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Benchmark reiterated a “buy” rating and issued a $42.00 target price on shares of Baker Hughes in a report on Thursday, October 24th. Finally, Evercore ISI increased their price target on shares of Baker Hughes from $42.00 to $46.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $44.12.

About Baker Hughes

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.