CIBC Asset Management Inc Has $11.16 Million Stock Position in Baker Hughes (NASDAQ:BKR)

CIBC Asset Management Inc increased its stake in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 5.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 308,637 shares of the company's stock after acquiring an additional 15,895 shares during the period. CIBC Asset Management Inc's holdings in Baker Hughes were worth $11,157,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in BKR. National Pension Service lifted its position in Baker Hughes by 6.4% during the 3rd quarter. National Pension Service now owns 1,362,973 shares of the company's stock worth $49,271,000 after acquiring an additional 81,625 shares during the last quarter. Hixon Zuercher LLC acquired a new position in shares of Baker Hughes during the 3rd quarter worth about $1,980,000. Wedge Capital Management L L P NC lifted its position in shares of Baker Hughes by 20.5% during the 2nd quarter. Wedge Capital Management L L P NC now owns 726,291 shares of the company's stock worth $25,544,000 after purchasing an additional 123,689 shares during the last quarter. National Bank of Canada FI grew its holdings in Baker Hughes by 4.7% in the 1st quarter. National Bank of Canada FI now owns 869,786 shares of the company's stock valued at $28,129,000 after buying an additional 39,031 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in Baker Hughes by 7.6% in the 2nd quarter. AQR Capital Management LLC now owns 6,424,915 shares of the company's stock valued at $223,523,000 after buying an additional 455,307 shares during the last quarter. 92.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on BKR shares. Argus raised Baker Hughes from a "hold" rating to a "buy" rating in a research report on Friday, October 25th. Evercore ISI raised their price target on shares of Baker Hughes from $42.00 to $46.00 and gave the stock an "outperform" rating in a research report on Monday, July 29th. TD Cowen boosted their price objective on shares of Baker Hughes from $46.00 to $50.00 and gave the stock a "buy" rating in a report on Monday, July 29th. The Goldman Sachs Group increased their target price on shares of Baker Hughes from $39.00 to $43.00 and gave the company a "buy" rating in a research note on Monday, July 29th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $43.00 price target on shares of Baker Hughes in a research note on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to data from MarketBeat.com, Baker Hughes presently has an average rating of "Moderate Buy" and an average target price of $44.59.

Baker Hughes Trading Down 0.6 %

Shares of BKR stock opened at $42.94 on Friday. The company has a market capitalization of $42.49 billion, a P/E ratio of 19.26, a P/E/G ratio of 0.72 and a beta of 1.38. Baker Hughes has a 12-month low of $28.32 and a 12-month 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 50-day moving average price of $37.48 and a 200 day moving average price of $35.21.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced 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 return on equity of 13.77% and a net margin of 8.20%. The business had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.21 billion. During the same period in the previous year, the business earned $0.42 EPS. Baker Hughes's revenue was up 4.0% compared to the same quarter last year. Research analysts forecast that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 1.96%. Baker Hughes's dividend payout ratio (DPR) 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.