Stevens Capital Management LP Makes New $480,000 Investment in Baker Hughes (NASDAQ:BKR)

Stevens Capital Management LP purchased a new position in shares of Baker Hughes (NASDAQ:BKR - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 13,286 shares of the company's stock, valued at approximately $480,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in BKR. Stifel Financial Corp raised its position in shares of Baker Hughes by 9.9% in the 3rd quarter. Stifel Financial Corp now owns 1,382,912 shares of the company's stock worth $49,993,000 after buying an additional 124,153 shares during the period. Quadrature Capital Ltd acquired a new position in shares of Baker Hughes in the 3rd quarter valued at about $322,000. Quantinno Capital Management LP grew its holdings in shares of Baker Hughes by 17.0% during the 3rd quarter. Quantinno Capital Management LP now owns 150,568 shares of the company's stock worth $5,443,000 after purchasing an additional 21,890 shares during the period. Morse Asset Management Inc acquired a new stake in Baker Hughes during the 3rd quarter worth approximately $1,263,000. Finally, Investment Management Corp of Ontario raised its holdings in Baker Hughes by 13.6% in the third quarter. Investment Management Corp of Ontario now owns 90,204 shares of the company's stock valued at $3,261,000 after buying an additional 10,800 shares during the period. Hedge funds and other institutional investors own 92.06% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Stifel Nicolaus raised their target price on Baker Hughes from $45.00 to $48.00 and gave the company a "buy" rating in a report on Monday, November 25th. Argus raised shares of Baker Hughes from a "hold" rating to a "buy" rating in a research report on Friday, October 25th. 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 report on Thursday, October 24th. BMO Capital Markets boosted their price objective on shares of Baker Hughes from $43.00 to $45.00 and gave the stock an "outperform" rating in a report on Thursday, October 10th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $43.00 price objective on shares of Baker Hughes in a research report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $44.76.

Baker Hughes Stock Down 2.8 %

Shares of Baker Hughes stock traded down $1.20 during midday trading on Friday, hitting $41.31. The company's stock had a trading volume of 7,455,021 shares, compared to its average volume of 7,146,959. The firm has a market capitalization of $40.88 billion, a P/E ratio of 18.52, a PEG ratio of 0.74 and a beta of 1.40. Baker Hughes has a 1-year low of $28.32 and a 1-year high of $45.17. 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 stock has a 50-day simple moving average of $39.97 and a 200-day simple moving average of $36.28.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.21 billion. During the same period in the previous year, the firm posted $0.42 earnings per share. The firm's revenue was up 4.0% on a year-over-year basis. As a group, sell-side analysts expect that Baker Hughes will post 2.29 earnings per share for the current year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a yield of 2.03%. 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.