Carrera Capital Advisors acquired a new position in shares of Baker Hughes (NASDAQ:BKR - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 56,281 shares of the company's stock, valued at approximately $2,035,000.
A number of other hedge funds have also modified their holdings of BKR. Ashton Thomas Securities LLC acquired a new position in Baker Hughes in the 3rd quarter worth approximately $30,000. New Covenant Trust Company N.A. acquired a new stake in shares of Baker Hughes in the first quarter worth $34,000. Alta Advisers Ltd purchased a new position in shares of Baker Hughes during the second quarter valued at $42,000. Headlands Technologies LLC acquired a new position in Baker Hughes during the second quarter valued at $48,000. Finally, Quarry LP lifted its stake in 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 acquiring an additional 714 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.
Baker Hughes Price Performance
Shares of Baker Hughes stock traded down $0.15 during mid-day trading on Tuesday, reaching $43.96. 1,152,710 shares of the stock were exchanged, compared to its average volume of 7,226,336. The company has a market cap of $43.50 billion, a price-to-earnings ratio of 19.78, a price-to-earnings-growth ratio of 0.73 and a beta of 1.38. The firm has a 50-day simple moving average of $36.75 and a 200 day simple moving average of $34.94. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $44.45.
Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.06. The firm 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%. The business's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.42 EPS. On average, sell-side analysts predict that Baker Hughes will post 2.29 EPS for the current fiscal year.
Baker Hughes Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 4th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $0.84 annualized dividend and a yield of 1.91%. Baker Hughes's dividend payout ratio is currently 37.67%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on BKR shares. UBS Group dropped 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. Piper Sandler lowered their price target on shares of Baker Hughes from $45.00 to $44.00 and set an "overweight" rating on the stock in a report on Monday, July 15th. TD Cowen increased their price objective on Baker Hughes from $46.00 to $50.00 and gave the stock a "buy" rating in a report on Monday, July 29th. BMO Capital Markets boosted their target price on Baker Hughes from $43.00 to $45.00 and gave the company an "outperform" rating in a research note on Thursday, October 10th. Finally, Bank of America cut their price target on Baker Hughes from $40.00 to $38.00 and set a "buy" rating for the company in a research note on Monday, July 15th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. Based on data from MarketBeat, Baker Hughes presently has a consensus rating of "Moderate Buy" and a consensus price target of $44.12.
View Our Latest Stock Analysis on BKR
Baker Hughes Company 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.
See Also
Want to see what other hedge funds are holding BKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Baker Hughes (NASDAQ:BKR - Free Report).
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