Occidental Asset Management LLC Boosts Holdings in Baker Hughes (NASDAQ:BKR)

Occidental Asset Management LLC increased its holdings in Baker Hughes (NASDAQ:BKR - Free Report) by 32.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 84,116 shares of the company's stock after acquiring an additional 20,683 shares during the quarter. Occidental Asset Management LLC's holdings in Baker Hughes were worth $3,450,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BKR. Ashton Thomas Securities LLC acquired a new position in Baker Hughes in the 3rd quarter valued at about $30,000. True Wealth Design LLC lifted its holdings in shares of Baker Hughes by 2,181.6% during the third quarter. True Wealth Design LLC now owns 867 shares of the company's stock worth $31,000 after purchasing an additional 829 shares during the period. Groupama Asset Managment grew its position in Baker Hughes by 1,045.1% in the 3rd quarter. Groupama Asset Managment now owns 889,378 shares of the company's stock valued at $32,000 after buying an additional 811,711 shares during the last quarter. Continuum Advisory LLC increased its stake in Baker Hughes by 442.2% in the 3rd quarter. Continuum Advisory LLC now owns 976 shares of the company's stock valued at $35,000 after buying an additional 796 shares during the period. Finally, Quarry LP raised its position in Baker Hughes by 81.1% during the 2nd quarter. Quarry LP now owns 1,594 shares of the company's stock worth $56,000 after buying an additional 714 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company's stock.

Baker Hughes Price Performance

Baker Hughes stock traded up $0.25 during midday trading on Friday, reaching $46.58. 5,371,608 shares of the company were exchanged, compared to its average volume of 6,287,438. The firm's 50-day simple moving average is $42.67 and its 200-day simple moving average is $38.25. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $47.47. The company has a market capitalization of $46.09 billion, a price-to-earnings ratio of 20.89, a P/E/G ratio of 0.79 and a beta of 1.39. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly 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 company had revenue of $6.91 billion for 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 for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the company earned $0.42 EPS. On average, analysts anticipate that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were issued a $0.21 dividend. The ex-dividend date was Monday, November 4th. This represents a $0.84 annualized dividend and a yield of 1.80%. Baker Hughes's dividend payout ratio (DPR) is presently 37.67%.

Analyst Ratings Changes

BKR has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price objective on shares of Baker Hughes from $42.00 to $49.00 and gave the company an "overweight" rating in a research report on Tuesday, December 17th. Bank of America boosted their target price on shares of Baker Hughes from $42.00 to $48.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. Susquehanna increased their price target on shares of Baker Hughes from $46.00 to $48.00 and gave the company a "positive" rating in a report on Thursday, October 24th. Morgan Stanley raised 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. Finally, Citigroup upped their target price on shares of Baker Hughes from $42.00 to $50.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $47.53.

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.