Erste Asset Management GmbH purchased a new position in shares of Baker Hughes (NASDAQ:BKR - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 27,750 shares of the company's stock, valued at approximately $1,004,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in Baker Hughes in the 3rd quarter valued at approximately $30,000. True Wealth Design LLC grew its stake in shares of Baker Hughes by 2,181.6% in the third quarter. True Wealth Design LLC now owns 867 shares of the company's stock worth $31,000 after acquiring an additional 829 shares in the last quarter. Alta Advisers Ltd acquired a new position in shares of Baker Hughes in the second quarter worth $42,000. Headlands Technologies LLC acquired a new position in shares of Baker Hughes in the second quarter worth $48,000. Finally, Quarry LP grew its stake in shares of Baker Hughes by 81.1% in the second 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. Institutional investors and hedge funds own 92.06% of the company's stock.
Wall Street Analysts Forecast Growth
BKR has been the subject of several research reports. Wells Fargo & Company upgraded shares of Baker Hughes from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $40.00 to $42.00 in a research note on Wednesday, September 25th. Morgan Stanley boosted their price target on shares of Baker Hughes from $42.00 to $45.00 and gave the stock an "overweight" rating in a research note on Thursday, October 3rd. Susquehanna boosted their price target on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a "positive" rating in a research note on Thursday, October 24th. BMO Capital Markets lifted their price objective on shares of Baker Hughes from $43.00 to $45.00 and gave the stock an "outperform" rating in a research report on Thursday, October 10th. Finally, UBS Group decreased their price objective on shares of Baker Hughes from $42.00 to $40.00 and set a "neutral" rating for the company in a research report on Wednesday, September 18th. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $44.76.
View Our Latest Analysis on BKR
Baker Hughes Trading Down 2.5 %
Shares of Baker Hughes stock traded down $1.11 during trading hours on Wednesday, hitting $42.56. The company's stock had a trading volume of 5,836,892 shares, compared to its average volume of 7,152,498. 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 company has a market capitalization of $42.11 billion, a PE ratio of 19.09, a P/E/G ratio of 0.74 and a beta of 1.40. The business has a fifty day moving average of $39.81 and a 200 day moving average of $36.23. Baker Hughes has a 1-year low of $28.32 and a 1-year high of $45.17.
Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.06. The business had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.21 billion. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The business's quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.42 EPS. As a group, equities analysts forecast that Baker Hughes will post 2.29 EPS for the current year.
Baker Hughes Dividend Announcement
The firm also recently announced 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. The ex-dividend date was Monday, November 4th. This represents a $0.84 annualized dividend and a dividend yield of 1.97%. Baker Hughes's payout ratio is 37.67%.
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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