Empower Advisory Group LLC grew its holdings in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 2.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,071,176 shares of the company's stock after acquiring an additional 50,481 shares during the quarter. Empower Advisory Group LLC owned 0.21% of Baker Hughes worth $74,873,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its stake in shares of Baker Hughes by 32.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company's stock worth $581,729,000 after buying an additional 4,207,973 shares during the period. Dimensional Fund Advisors LP boosted its stake in Baker Hughes by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company's stock worth $348,074,000 after purchasing an additional 680,621 shares during the period. Legal & General Group Plc boosted its stake in Baker Hughes by 8.6% in the 2nd quarter. Legal & General Group Plc now owns 8,723,388 shares of the company's stock worth $306,801,000 after purchasing an additional 692,859 shares during the period. American Century Companies Inc. boosted its position in shares of Baker Hughes by 3.1% during the 2nd quarter. American Century Companies Inc. now owns 8,274,250 shares of the company's stock valued at $291,005,000 after acquiring an additional 248,122 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its position in shares of Baker Hughes by 10.2% during the 1st quarter. Clearbridge Investments LLC now owns 6,609,115 shares of the company's stock valued at $221,405,000 after acquiring an additional 612,715 shares during the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.
Baker Hughes Stock Down 0.7 %
BKR traded down $0.29 on Wednesday, hitting $43.38. The company had a trading volume of 2,667,495 shares, compared to its average volume of 7,233,161. The stock has a fifty day moving average price of $36.94 and a 200-day moving average price of $35.01. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $44.49. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30. The stock has a market capitalization of $42.93 billion, a price-to-earnings ratio of 19.52, a P/E/G ratio of 0.74 and a beta of 1.38.
Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating 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 company had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.21 billion. During the same quarter in the previous year, the firm earned $0.42 earnings per share. The firm's quarterly revenue was up 4.0% compared to the same quarter last year. Analysts predict that Baker Hughes will post 2.29 EPS for the current fiscal year.
Baker Hughes Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.94%. The ex-dividend date is Monday, November 4th. Baker Hughes's dividend payout ratio is presently 37.67%.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on BKR shares. TD Cowen raised their price target on Baker Hughes from $46.00 to $50.00 and gave the stock a "buy" rating in a research report on Monday, July 29th. Argus upgraded Baker Hughes from a "hold" rating to a "buy" rating in a research report on Friday, October 25th. The Goldman Sachs Group increased their target price on Baker Hughes from $39.00 to $43.00 and gave the stock a "buy" rating in a research note on Monday, July 29th. Royal Bank of Canada reiterated an "outperform" rating and issued a $43.00 target price on shares of Baker Hughes in a research note on Thursday, October 24th. Finally, Citigroup reduced their target price on Baker Hughes from $44.00 to $42.00 and set a "buy" rating on the stock in a research note on Friday, September 27th. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $44.12.
Check Out Our Latest Report on Baker Hughes
Baker Hughes 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.
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