Tidal Investments LLC Sells 19,698 Shares of Baker Hughes (NASDAQ:BKR)

Tidal Investments LLC cut its holdings in Baker Hughes (NASDAQ:BKR - Free Report) by 17.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 94,367 shares of the company's stock after selling 19,698 shares during the period. Tidal Investments LLC's holdings in Baker Hughes were worth $3,411,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Ashton Thomas Securities LLC acquired a new stake in shares of Baker Hughes in the 3rd quarter valued at $30,000. True Wealth Design LLC boosted its stake in shares of Baker Hughes by 2,181.6% in the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company's stock valued at $31,000 after purchasing an additional 829 shares in the last quarter. Continuum Advisory LLC increased its position in Baker Hughes by 442.2% during the 3rd quarter. Continuum Advisory LLC now owns 976 shares of the company's stock worth $35,000 after purchasing an additional 796 shares in the last quarter. Alta Advisers Ltd bought a new position in Baker Hughes in the 2nd quarter valued at approximately $42,000. Finally, Headlands Technologies LLC acquired a new stake in Baker Hughes in the second quarter valued at approximately $48,000. 92.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Citigroup boosted their price target on shares of Baker Hughes from $42.00 to $50.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. UBS Group cut their price target on shares of Baker Hughes from $42.00 to $40.00 and set a "neutral" rating on the stock in a report on Wednesday, September 18th. Benchmark reaffirmed a "buy" rating and set a $42.00 target price on shares of Baker Hughes in a research report on Thursday, October 24th. Barclays increased their price objective on Baker Hughes from $41.00 to $46.00 and gave the company an "overweight" rating in a report on Thursday, October 24th. Finally, Stifel Nicolaus increased their price target on Baker Hughes from $45.00 to $48.00 and gave the stock a "buy" rating in a research note on Monday, November 25th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $45.12.

Baker Hughes Stock Performance

Baker Hughes stock traded down $0.18 during midday trading on Friday, reaching $42.15. 4,937,608 shares of the company traded hands, compared to its average volume of 7,135,821. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $45.17. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. The business has a 50 day moving average of $40.55 and a two-hundred day moving average of $36.70. The firm has a market capitalization of $41.71 billion, a price-to-earnings ratio of 18.90, a price-to-earnings-growth ratio of 0.72 and a beta of 1.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.06. The company had revenue of $6.91 billion for the quarter, compared to the consensus estimate 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 in the previous year, the business earned $0.42 earnings per share. As a group, research analysts predict that Baker Hughes will post 2.29 earnings per share for the current year.

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders 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 yield of 1.99%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes's dividend payout ratio (DPR) is currently 37.67%.

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.