Morse Asset Management Inc Takes Position in Baker Hughes (NASDAQ:BKR)

Morse Asset Management Inc bought a new stake in shares of Baker Hughes (NASDAQ:BKR - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 34,950 shares of the company's stock, valued at approximately $1,263,000.

Other hedge funds have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in Baker Hughes during the third quarter valued at approximately $30,000. True Wealth Design LLC increased its stake in shares of Baker Hughes by 2,181.6% in the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company's stock worth $31,000 after purchasing an additional 829 shares in the last quarter. Alta Advisers Ltd purchased a new stake in shares of Baker Hughes in the 2nd quarter worth $42,000. Headlands Technologies LLC purchased a new stake in Baker Hughes in the second quarter worth about $48,000. Finally, Quarry LP increased its position in 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 buying an additional 714 shares in the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Baker Hughes Stock Performance

BKR traded down $1.11 during trading on Wednesday, reaching $42.56. 5,779,392 shares of the company's stock were exchanged, compared to its average volume of 7,142,839. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. The company's fifty day simple moving average is $39.68 and its 200-day simple moving average is $36.19. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $45.17. The stock has a market capitalization of $42.11 billion, a P/E ratio of 18.98, a price-to-earnings-growth ratio of 0.74 and a beta of 1.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.06. The firm had revenue of $6.91 billion during the quarter, compared to analysts' expectations of $7.21 billion. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The firm's revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.42 earnings per share. As a group, research analysts predict that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors 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 1.97%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes's dividend payout ratio is currently 37.67%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BKR. Argus upgraded Baker Hughes from a "hold" rating to a "buy" rating in a research report on Friday, October 25th. Susquehanna increased their price objective 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. Royal Bank of Canada reissued an "outperform" rating and issued a $43.00 price objective on shares of Baker Hughes in a research note on Thursday, October 24th. Barclays increased their price target on Baker Hughes from $41.00 to $46.00 and gave the stock an "overweight" rating in a research note on Thursday, October 24th. Finally, Benchmark reiterated a "buy" rating and issued a $42.00 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. Based on data from MarketBeat.com, Baker Hughes currently has a consensus rating of "Moderate Buy" and a consensus target price of $44.76.

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.