Oliver Luxxe Assets LLC Has $5.35 Million Stock Holdings in Baker Hughes (NASDAQ:BKR)

Oliver Luxxe Assets LLC reduced its stake in Baker Hughes (NASDAQ:BKR) by 0.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 147,929 shares of the company’s stock after selling 296 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in Baker Hughes were worth $5,348,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. UMB Bank n.a. increased its holdings in shares of Baker Hughes by 18.4% during the second quarter. UMB Bank n.a. now owns 1,873 shares of the company’s stock valued at $66,000 after acquiring an additional 291 shares in the last quarter. Guinness Atkinson Asset Management Inc increased its holdings in shares of Baker Hughes by 6.9% during the second quarter. Guinness Atkinson Asset Management Inc now owns 7,205 shares of the company’s stock valued at $253,000 after acquiring an additional 467 shares in the last quarter. Meeder Advisory Services Inc. increased its holdings in shares of Baker Hughes by 5.2% during the first quarter. Meeder Advisory Services Inc. now owns 10,438 shares of the company’s stock valued at $350,000 after acquiring an additional 520 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Baker Hughes by 0.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 107,946 shares of the company’s stock valued at $3,690,000 after acquiring an additional 525 shares in the last quarter. Finally, Rise Advisors LLC grew its holdings in Baker Hughes by 46.9% during the first quarter. Rise Advisors LLC now owns 1,667 shares of the company’s stock worth $56,000 after buying an additional 532 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors.

Insider Activity

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on BKR shares. Susquehanna upped their price target on Baker Hughes from $40.00 to $46.00 and gave the stock a “positive” rating in a report on Monday, July 29th. Benchmark reiterated a “buy” rating and set a $40.00 price target on shares of Baker Hughes in a report on Friday, July 26th. Royal Bank of Canada upped their price target on Baker Hughes from $39.00 to $43.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Morgan Stanley boosted their price objective on Baker Hughes from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. Finally, Evercore ISI boosted their price objective on Baker Hughes from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Baker Hughes presently has an average rating of “Moderate Buy” and an average target price of $43.65.

Baker Hughes Stock Performance

Shares of BKR opened at $37.70 on Monday. The stock’s 50-day simple moving average is $35.30 and its 200 day simple moving average is $34.19. The stock has a market capitalization of $37.62 billion, a price-to-earnings ratio of 21.06, a price-to-earnings-growth ratio of 0.61 and a beta of 1.38. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.27. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $39.05.

Baker Hughes (NASDAQ:BKR) last announced its 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 analyst estimates of $6.81 billion. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.39 EPS. Research analysts forecast that Baker Hughes will post 2.25 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently disclosed 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 2.23%. Baker Hughes’s dividend payout ratio (DPR) is presently 46.93%.

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.