Charles Schwab Investment Management Inc. Grows Stake in Baker Hughes (NASDAQ:BKR)

Charles Schwab Investment Management Inc. increased its holdings in Baker Hughes (NASDAQ:BKR - Free Report) by 0.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 6,951,703 shares of the company's stock after acquiring an additional 22,383 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.70% of Baker Hughes worth $251,304,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Bridges Investment Management Inc. boosted its stake in shares of Baker Hughes by 3.1% in the third quarter. Bridges Investment Management Inc. now owns 9,203 shares of the company's stock valued at $333,000 after purchasing an additional 273 shares during the period. UMB Bank n.a. boosted its position in Baker Hughes by 18.4% in the 2nd quarter. UMB Bank n.a. now owns 1,873 shares of the company's stock valued at $66,000 after buying an additional 291 shares during the period. Graypoint LLC grew its stake in shares of Baker Hughes by 3.0% in the third quarter. Graypoint LLC now owns 10,288 shares of the company's stock worth $372,000 after acquiring an additional 301 shares in the last quarter. First Trust Direct Indexing L.P. increased its position in shares of Baker Hughes by 1.4% during the third quarter. First Trust Direct Indexing L.P. now owns 29,841 shares of the company's stock worth $1,079,000 after acquiring an additional 398 shares during the period. Finally, Guinness Atkinson Asset Management Inc grew its stake in Baker Hughes by 6.9% during the 2nd quarter. Guinness Atkinson Asset Management Inc now owns 7,205 shares of the company's stock worth $253,000 after purchasing an additional 467 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BKR. Royal Bank of Canada reiterated an "outperform" rating and issued a $43.00 price objective on shares of Baker Hughes in a research note on Thursday, October 24th. The Goldman Sachs Group lifted their price target on shares of Baker Hughes from $39.00 to $43.00 and gave the stock a "buy" rating in a research note on Monday, July 29th. Jefferies Financial Group increased their price objective on shares of Baker Hughes from $46.00 to $48.00 and gave the company a "buy" rating in a research report on Monday, July 29th. JPMorgan Chase & Co. lifted their price objective on shares of Baker Hughes from $42.00 to $43.00 and gave the stock an "overweight" rating in a research report on Monday, July 29th. Finally, BMO Capital Markets boosted their target price on shares of Baker Hughes from $43.00 to $45.00 and gave the stock an "outperform" rating in a research note on Thursday, October 10th. Two 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.com, Baker Hughes has a consensus rating of "Moderate Buy" and a consensus target price of $44.59.

Baker Hughes Stock Performance

Shares of Baker Hughes stock traded down $0.63 during trading hours on Friday, hitting $44.25. 7,642,061 shares of the company were exchanged, compared to its average volume of 7,070,443. The business has a 50-day moving average of $38.54 and a 200-day moving average of $35.60. Baker Hughes has a 1 year low of $28.32 and a 1 year 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.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its 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. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The company had revenue of $6.91 billion during the quarter, compared to analysts' expectations of $7.21 billion. During the same quarter last year, the business earned $0.42 EPS. The business's revenue was up 4.0% on a year-over-year basis. As a group, analysts expect that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes's payout ratio is 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.