SCP Investment LP Has $463,000 Position in Baker Hughes (NASDAQ:BKR)

SCP Investment LP cut its stake in shares of Baker Hughes (NASDAQ:BKR) by 38.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,800 shares of the company’s stock after selling 8,000 shares during the quarter. SCP Investment LP’s holdings in Baker Hughes were worth $463,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Orion Portfolio Solutions LLC raised its position in Baker Hughes by 27.1% in the first quarter. Orion Portfolio Solutions LLC now owns 31,003 shares of the company’s stock valued at $1,039,000 after purchasing an additional 6,604 shares during the last quarter. Edgestream Partners L.P. grew its holdings in 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 acquiring an additional 19,320 shares during the last quarter. O Shaughnessy Asset Management LLC increased its position in Baker Hughes by 26.2% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 49,566 shares of the company’s stock valued at $1,660,000 after acquiring an additional 10,278 shares during the period. UniSuper Management Pty Ltd increased its position in Baker Hughes by 364.5% in the 1st quarter. UniSuper Management Pty Ltd now owns 43,015 shares of the company’s stock valued at $1,441,000 after acquiring an additional 33,754 shares during the period. Finally, National Bank of Canada FI raised its stake in shares of Baker Hughes by 4.7% during the first quarter. National Bank of Canada FI now owns 869,786 shares of the company’s stock valued at $28,129,000 after acquiring an additional 39,031 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Down 0.5 %

Shares of NASDAQ:BKR opened at $42.87 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $44.49. The business’s 50 day simple moving average is $37.86 and its two-hundred day simple moving average is $35.39. The firm has a market cap of $42.42 billion, a P/E ratio of 19.22, a PEG ratio of 0.72 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. The company had revenue of $6.91 billion for the quarter, compared to analysts’ expectations of $7.21 billion. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. Baker Hughes’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the business earned $0.42 EPS. As a group, research analysts forecast that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes’s dividend payout ratio is currently 37.67%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Morgan Stanley increased their price objective on Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. UBS Group lowered their price objective on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Jefferies Financial Group upped their target price on Baker Hughes from $46.00 to $48.00 and gave the company a “buy” rating in a report on Monday, July 29th. Susquehanna raised their price target on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a “positive” rating in a report on Thursday, October 24th. Finally, Evercore ISI boosted their price target on shares of Baker Hughes from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.59.

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.