Banco Santander S.A. Acquires New Stake in Baker Hughes (NASDAQ:BKR)

Banco Santander S.A. bought a new position in shares of Baker Hughes (NASDAQ:BKR - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 17,861 shares of the company's stock, valued at approximately $646,000.

Other institutional investors have also made changes to their positions in the company. Advisors Asset Management Inc. lifted its stake in shares of Baker Hughes by 20.4% in the third quarter. Advisors Asset Management Inc. now owns 89,488 shares of the company's stock worth $3,235,000 after acquiring an additional 15,172 shares in the last quarter. Commerce Bank raised its position in shares of Baker Hughes by 3.1% in the 3rd quarter. Commerce Bank now owns 30,775 shares of the company's stock valued at $1,113,000 after purchasing an additional 921 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Baker Hughes by 13.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 134,735 shares of the company's stock valued at $4,871,000 after purchasing an additional 15,477 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Baker Hughes during the 3rd quarter valued at approximately $27,914,000. Finally, Banque Cantonale Vaudoise grew its position in shares of Baker Hughes by 76.1% during the third quarter. Banque Cantonale Vaudoise now owns 122,661 shares of the company's stock worth $4,434,000 after buying an additional 53,006 shares in the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on BKR. Wells Fargo & Company raised shares of Baker Hughes from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $40.00 to $42.00 in a report on Wednesday, September 25th. TD Cowen upped their target price on shares of Baker Hughes from $46.00 to $50.00 and gave the company a "buy" rating in a research note on Monday, July 29th. Royal Bank of Canada reiterated an "outperform" rating and issued a $43.00 price target on shares of Baker Hughes in a research note on Thursday, October 24th. Benchmark reissued a "buy" rating and issued a $42.00 price objective on shares of Baker Hughes in a report on Thursday, October 24th. Finally, UBS Group reduced their target price on Baker Hughes from $42.00 to $40.00 and set a "neutral" rating on the stock in a report on Wednesday, September 18th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $44.59.

Baker Hughes Stock Performance

NASDAQ:BKR traded down $0.63 during mid-day trading on Friday, hitting $44.25. The stock had a trading volume of 7,642,061 shares, compared to its average volume of 7,070,443. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $45.17. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $43.79 billion, a price-to-earnings ratio of 19.84, a P/E/G ratio of 0.76 and a beta of 1.38. The company has a 50 day simple moving average of $38.54 and a 200-day simple moving average of $35.60.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.06. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The company had revenue of $6.91 billion for the quarter, compared to analysts' expectations of $7.21 billion. During the same quarter in the previous year, the company posted $0.42 earnings per share. The business's revenue for the quarter was up 4.0% compared to the same quarter last year. On average, research analysts expect that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were paid a $0.21 dividend. The ex-dividend date was Monday, November 4th. This represents a $0.84 annualized dividend and a dividend yield of 1.90%. Baker Hughes's payout ratio is 37.67%.

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.