Cardano Risk Management B.V. Boosts Stock Position in Baker Hughes (NASDAQ:BKR)

Cardano Risk Management B.V. raised its position in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 1.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,579,325 shares of the company's stock after buying an additional 82,272 shares during the quarter. Baker Hughes comprises about 2.9% of Cardano Risk Management B.V.'s investment portfolio, making the stock its 13th largest holding. Cardano Risk Management B.V. owned approximately 0.46% of Baker Hughes worth $165,543,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in Baker Hughes during the 3rd quarter worth $30,000. New Covenant Trust Company N.A. purchased a new stake in shares of Baker Hughes during the first quarter worth about $34,000. Alta Advisers Ltd acquired a new position in shares of Baker Hughes during the second quarter valued at about $42,000. Headlands Technologies LLC purchased a new position in shares of Baker Hughes in the 2nd quarter valued at approximately $48,000. Finally, Quarry LP raised its position in shares of Baker Hughes by 81.1% in the 2nd quarter. Quarry LP now owns 1,594 shares of the company's stock valued at $56,000 after purchasing an additional 714 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BKR. Wells Fargo & Company upgraded 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 research note on Wednesday, September 25th. Citigroup raised their target price on Baker Hughes from $42.00 to $50.00 and gave the stock a "buy" rating in a research note on Thursday. Morgan Stanley boosted their price target on Baker Hughes from $42.00 to $45.00 and gave the company an "overweight" rating in a research note on Thursday, October 3rd. TD Cowen raised their price objective on Baker Hughes from $46.00 to $50.00 and gave the stock a "buy" rating in a research note on Monday, July 29th. Finally, Susquehanna upped their target price on Baker Hughes from $46.00 to $48.00 and gave the company a "positive" rating in a research report on Thursday, October 24th. Two equities research 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.com, Baker Hughes has a consensus rating of "Moderate Buy" and an average price target of $44.59.

Baker Hughes Trading Down 0.6 %

BKR stock opened at $42.94 on Friday. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $44.49. 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 firm has a market cap of $42.49 billion, a P/E ratio of 19.26, a PEG ratio of 0.72 and a beta of 1.38. The company's 50-day simple moving average is $37.48 and its 200-day simple moving average is $35.21.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 EPS 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 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 period last year, the company earned $0.42 earnings per share. As a group, equities analysts forecast that Baker Hughes will post 2.29 EPS for the current fiscal 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 given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date was Monday, November 4th. Baker Hughes's dividend payout ratio is presently 37.67%.

Baker Hughes Company 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.

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