Point72 Hong Kong Ltd purchased a new position in shares of Baker Hughes (NASDAQ:BKR - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 11,494 shares of the company's stock, valued at approximately $416,000.
Other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its position 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 valued at $348,074,000 after buying an additional 680,621 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Baker Hughes by 1.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,633,006 shares of the company's stock worth $348,233,000 after acquiring an additional 145,537 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Baker Hughes by 8.6% during the 2nd quarter. Legal & General Group Plc now owns 8,723,388 shares of the company's stock worth $306,801,000 after purchasing an additional 692,859 shares during the period. American Century Companies Inc. increased its holdings in Baker Hughes by 3.1% in the 2nd quarter. American Century Companies Inc. now owns 8,274,250 shares of the company's stock valued at $291,005,000 after purchasing an additional 248,122 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Baker Hughes by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,951,703 shares of the company's stock valued at $251,304,000 after purchasing an additional 22,383 shares during the period. Hedge funds and other institutional investors own 92.06% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on BKR. Barclays lifted their price objective on Baker Hughes from $41.00 to $46.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. Morgan Stanley increased their price target on shares of Baker Hughes from $42.00 to $45.00 and gave the stock an "overweight" rating in a research report on Thursday, October 3rd. Stifel Nicolaus lifted their price objective on shares of Baker Hughes from $45.00 to $48.00 and gave the company a "buy" rating in a report on Monday, November 25th. Argus raised shares of Baker Hughes from a "hold" rating to a "buy" rating in a research note on Friday, October 25th. Finally, BMO Capital Markets raised their price target on shares of Baker Hughes from $43.00 to $45.00 and gave the company an "outperform" rating in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, Baker Hughes currently has a consensus rating of "Moderate Buy" and a consensus target price of $44.76.
Check Out Our Latest Report on Baker Hughes
Baker Hughes Stock Down 0.0 %
BKR traded down $0.02 on Tuesday, reaching $43.67. The company's stock had a trading volume of 3,583,562 shares, compared to its average volume of 6,326,440. The company has a market capitalization of $43.21 billion, a price-to-earnings ratio of 19.58, a P/E/G ratio of 0.74 and a beta of 1.40. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $45.17. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37. The stock has a 50 day moving average of $39.68 and a two-hundred day moving average of $36.19.
Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.06. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The business had revenue of $6.91 billion during the quarter, compared to analysts' expectations of $7.21 billion. During the same quarter in the prior year, the business posted $0.42 EPS. The company's revenue for the quarter was up 4.0% on a year-over-year basis. As a group, analysts forecast that Baker Hughes will post 2.29 EPS for the current fiscal year.
Baker Hughes Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes's dividend payout ratio (DPR) is currently 37.67%.
Baker Hughes Company Profile
(
Free Report)
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.
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