Empowered Funds LLC Boosts Holdings in Baker Hughes (NASDAQ:BKR)

Empowered Funds LLC increased its stake in Baker Hughes (NASDAQ:BKR - Free Report) by 1,586.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 265,828 shares of the company's stock after buying an additional 250,067 shares during the quarter. Empowered Funds LLC's holdings in Baker Hughes were worth $9,610,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in shares of Baker Hughes during the third quarter worth approximately $30,000. New Covenant Trust Company N.A. acquired a new position in shares of Baker Hughes during the first quarter valued at about $34,000. Alta Advisers Ltd purchased a new position in shares of Baker Hughes in the second quarter worth $42,000. Headlands Technologies LLC acquired a new stake in shares of Baker Hughes during the second quarter worth $48,000. Finally, Quarry LP grew its holdings in shares of Baker Hughes by 81.1% during the second quarter. Quarry LP now owns 1,594 shares of the company's stock valued at $56,000 after buying an additional 714 shares during the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BKR has been the subject of several research reports. Morgan Stanley lifted their price objective on shares of Baker Hughes from $42.00 to $45.00 and gave the company an "overweight" rating in a research note on Thursday, October 3rd. Citigroup upped their price target on shares of Baker Hughes from $42.00 to $50.00 and gave the company a "buy" rating in a report on Thursday. Susquehanna increased their price target on Baker Hughes from $46.00 to $48.00 and gave the stock a "positive" rating in a research report on Thursday, October 24th. Evercore ISI boosted their price objective on Baker Hughes from $42.00 to $46.00 and gave the company an "outperform" rating in a report on Monday, July 29th. Finally, Wells Fargo & Company raised Baker Hughes from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $40.00 to $42.00 in a report on Wednesday, September 25th. Two investment 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, the company presently has an average rating of "Moderate Buy" and a consensus price target of $44.59.

Baker Hughes Stock Down 0.6 %

BKR traded down $0.24 on Friday, hitting $42.94. 4,724,753 shares of the company were exchanged, compared to its average volume of 7,242,747. The firm has a 50-day moving average price of $37.48 and a two-hundred day moving average price of $35.19. 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 twelve month low of $28.32 and a twelve month high of $44.49. The company has a market cap of $42.49 billion, a price-to-earnings ratio of 19.26, a price-to-earnings-growth ratio of 0.73 and a beta of 1.38.

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, beating analysts' consensus estimates of $0.61 by $0.06. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The business had revenue of $6.91 billion during the quarter, compared to analysts' expectations of $7.21 billion. During the same period in the prior year, the company earned $0.42 earnings per share. The business's revenue was up 4.0% compared to the same quarter last year. On average, equities analysts predict that Baker Hughes will post 2.29 earnings per share for the current year.

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were issued 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 currently 37.67%.

About Baker Hughes

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.