Alpha DNA Investment Management LLC Reduces Stock Holdings in Baker Hughes (NASDAQ:BKR)

Alpha DNA Investment Management LLC reduced its stake in shares of Baker Hughes (NASDAQ:BKR) by 16.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,077 shares of the company’s stock after selling 4,421 shares during the quarter. Alpha DNA Investment Management LLC’s holdings in Baker Hughes were worth $834,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BKR. Price T Rowe Associates Inc. MD boosted its stake in shares of Baker Hughes by 32.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock valued at $581,729,000 after purchasing an additional 4,207,973 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Baker Hughes by 7.4% in 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 in the last quarter. Legal & General Group Plc lifted its holdings in Baker Hughes by 8.6% in 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 period. American Century Companies Inc. boosted its position in Baker Hughes by 3.1% during the 2nd quarter. American Century Companies Inc. now owns 8,274,250 shares of the company’s stock valued at $291,005,000 after acquiring an additional 248,122 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Baker Hughes by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,951,703 shares of the company’s stock worth $251,304,000 after acquiring an additional 22,383 shares during the period. 92.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BKR has been the subject of a number of research analyst reports. Morgan Stanley raised their target price on Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. Argus upgraded Baker Hughes from a “hold” rating to a “buy” rating in a report on Friday, October 25th. The Goldman Sachs Group boosted their target price on shares of Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, July 29th. Susquehanna increased their price target on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a “positive” rating in a research note on Thursday, October 24th. Finally, Jefferies Financial Group lifted their price target on shares of Baker Hughes from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, Baker Hughes presently has a consensus rating of “Moderate Buy” and an average price target of $44.59.

Baker Hughes Stock Performance

Shares of BKR opened at $44.25 on Friday. The company has a market cap of $43.79 billion, a price-to-earnings ratio of 19.84, a P/E/G ratio of 0.76 and a beta of 1.38. The business’s fifty day simple moving average is $38.54 and its two-hundred day simple moving average is $35.63. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $45.17. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 EPS 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 for the quarter, compared to analysts’ expectations of $7.21 billion. During the same period last year, the firm posted $0.42 earnings per share. Baker Hughes’s revenue was up 4.0% compared to the same quarter last year. Research analysts anticipate that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes’s dividend payout ratio is currently 37.67%.

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.