River Global Investors LLP decreased its position in Baker Hughes (NASDAQ:BKR - Free Report) by 4.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 234,988 shares of the company's stock after selling 12,042 shares during the quarter. Baker Hughes accounts for 1.8% of River Global Investors LLP's portfolio, making the stock its 11th biggest holding. River Global Investors LLP's holdings in Baker Hughes were worth $8,494,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. New Covenant Trust Company N.A. bought a new stake in Baker Hughes in the 1st quarter worth approximately $34,000. Alta Advisers Ltd purchased a new position in shares of Baker Hughes in the 2nd quarter worth approximately $42,000. Headlands Technologies LLC purchased a new position in shares of Baker Hughes in the 2nd quarter worth approximately $48,000. Quarry LP boosted its holdings in shares of Baker Hughes by 81.1% in the 2nd quarter. Quarry LP now owns 1,594 shares of the company's stock worth $56,000 after purchasing an additional 714 shares during the period. Finally, UMB Bank n.a. boosted its holdings in shares of Baker Hughes by 18.4% in the 2nd quarter. UMB Bank n.a. now owns 1,873 shares of the company's stock worth $66,000 after purchasing an additional 291 shares during the period. Institutional investors own 92.06% of the company's stock.
Analyst Upgrades and Downgrades
BKR has been the subject of a number of recent research reports. Barclays lifted their target price on Baker Hughes from $41.00 to $46.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. Jefferies Financial Group lifted their target price on Baker Hughes from $46.00 to $48.00 and gave the stock a "buy" rating in a report on Monday, July 29th. BMO Capital Markets lifted their target price on Baker Hughes from $43.00 to $45.00 and gave the stock an "outperform" rating in a report on Thursday, October 10th. UBS Group dropped their target price on Baker Hughes from $42.00 to $40.00 and set a "neutral" rating for the company in a report on Wednesday, September 18th. Finally, Evercore ISI lifted their target price on Baker Hughes from $42.00 to $46.00 and gave the stock an "outperform" rating in a report on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $44.12.
View Our Latest Stock Analysis on BKR
Baker Hughes Stock Down 0.2 %
Shares of BKR stock traded down $0.09 during mid-day trading on Friday, hitting $43.02. The stock had a trading volume of 7,007,642 shares, compared to its average volume of 6,360,934. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $43.67. The firm has a market capitalization of $42.56 billion, a P/E ratio of 19.29, a price-to-earnings-growth ratio of 0.72 and a beta of 1.38. The firm's 50-day moving average is $36.57 and its two-hundred day moving average is $34.85. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88.
Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.61 by $0.06. The firm had revenue of $6.91 billion during 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%. The business's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.42 EPS. On average, analysts predict that Baker Hughes will post 2.29 earnings per share for the current fiscal year.
Baker Hughes Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 4th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend is Monday, November 4th. Baker Hughes's payout ratio is 37.67%.
Baker Hughes 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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