Baker Hughes (NASDAQ:BKR) Position Reduced by RPG Investment Advisory LLC

RPG Investment Advisory LLC decreased its holdings in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 13.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 416,243 shares of the company's stock after selling 64,644 shares during the period. Baker Hughes comprises approximately 2.1% of RPG Investment Advisory LLC's holdings, making the stock its 14th largest position. RPG Investment Advisory LLC's holdings in Baker Hughes were worth $15,047,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in shares of Baker Hughes during the 3rd quarter valued at $30,000. New Covenant Trust Company N.A. purchased a new stake in Baker Hughes in the 1st quarter worth $34,000. Alta Advisers Ltd purchased a new stake in Baker Hughes in the 2nd quarter worth $42,000. Headlands Technologies LLC purchased a new stake in Baker Hughes in the 2nd quarter worth $48,000. Finally, Quarry LP lifted its stake in Baker Hughes by 81.1% in the 2nd quarter. Quarry LP now owns 1,594 shares of the company's stock worth $56,000 after purchasing an additional 714 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on BKR. 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. JPMorgan Chase & Co. raised their price target on shares of Baker Hughes from $42.00 to $43.00 and gave the stock an "overweight" rating in a report on Monday, July 29th. Susquehanna raised their price target on shares of Baker Hughes from $46.00 to $48.00 and gave the company a "positive" rating in a research report on Thursday, October 24th. BMO Capital Markets raised their price target on shares of Baker Hughes from $43.00 to $45.00 and gave the stock an "outperform" rating in a research note on Thursday, October 10th. Finally, UBS Group decreased their target price on shares of Baker Hughes from $42.00 to $40.00 and set a "neutral" rating on the stock in a report on Wednesday, September 18th. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $44.12.

Baker Hughes Stock Performance

BKR stock traded down $0.14 during trading on Wednesday, hitting $43.53. 1,987,195 shares of the company's stock traded hands, compared to its average volume of 7,230,069. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $44.49. The stock has a fifty day moving average price of $36.94 and a two-hundred day moving average price of $35.01. The stock has a market capitalization of $43.07 billion, a price-to-earnings ratio of 19.52, a price-to-earnings-growth ratio of 0.74 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released 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 firm had revenue of $6.91 billion during 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 firm's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 earnings per share. As a group, equities analysts anticipate that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 4th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, November 4th. This represents a $0.84 annualized dividend and a dividend yield of 1.93%. Baker Hughes's dividend payout ratio is currently 37.67%.

Baker Hughes 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.