Sanctuary Advisors LLC Buys 42,148 Shares of Baker Hughes (NASDAQ:BKR)

Sanctuary Advisors LLC lifted its stake in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 92.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 87,961 shares of the company's stock after purchasing an additional 42,148 shares during the period. Sanctuary Advisors LLC's holdings in Baker Hughes were worth $3,180,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in BKR. Bridges Investment Management Inc. boosted its stake in Baker Hughes by 3.1% during the 3rd quarter. Bridges Investment Management Inc. now owns 9,203 shares of the company's stock worth $333,000 after purchasing an additional 273 shares during the period. UMB Bank n.a. grew its position in Baker Hughes by 18.4% in 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. Graypoint LLC increased its position in shares of Baker Hughes by 3.0% during the third quarter. Graypoint LLC now owns 10,288 shares of the company's stock worth $372,000 after acquiring an additional 301 shares during the last quarter. First Trust Direct Indexing L.P. grew its stake in Baker Hughes by 1.4% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 29,841 shares of the company's stock valued at $1,079,000 after purchasing an additional 398 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its stake in Baker Hughes by 4.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 9,027 shares of the company's stock valued at $326,000 after purchasing an additional 401 shares in the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Baker Hughes Price Performance

Shares of BKR traded down $0.36 during mid-day trading on Wednesday, reaching $41.05. The company had a trading volume of 2,139,697 shares, compared to its average volume of 7,104,321. The company's 50 day simple moving average is $40.71 and its 200 day simple moving average is $36.85. The company has a market capitalization of $40.62 billion, a price-to-earnings ratio of 18.41, a P/E/G ratio of 0.72 and a beta of 1.40. Baker Hughes has a 1-year low of $28.32 and a 1-year high of $45.17. 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 (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.06. The business had revenue of $6.91 billion for the quarter, compared to analyst estimates 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 quarter in the previous year, the company posted $0.42 EPS. Analysts expect that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Dividend Announcement

The business 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. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.84 annualized dividend and a dividend yield of 2.05%. Baker Hughes's dividend payout ratio is currently 37.67%.

Analysts Set New Price Targets

Several equities research analysts recently commented on BKR shares. Citigroup boosted their target price on Baker Hughes from $42.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. Stifel Nicolaus raised their price target on shares of Baker Hughes from $45.00 to $48.00 and gave the stock a "buy" rating in a research report on Monday, November 25th. Atb Cap Markets downgraded shares of Baker Hughes from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 10th. BMO Capital Markets boosted their price objective on Baker Hughes from $43.00 to $45.00 and gave the stock an "outperform" rating in a research note on Thursday, October 10th. Finally, Bank of America raised their price target on Baker Hughes from $42.00 to $48.00 and gave the stock a "buy" rating in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $46.47.

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.