USA Financial Formulas Takes $1.28 Million Position in Baker Hughes (NASDAQ:BKR)

USA Financial Formulas acquired a new stake in Baker Hughes (NASDAQ:BKR - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 31,288 shares of the company's stock, valued at approximately $1,283,000. Baker Hughes comprises about 0.2% of USA Financial Formulas' holdings, making the stock its 26th largest position.

Several other hedge funds and other institutional investors also recently made changes to their positions in BKR. Geode Capital Management LLC lifted its holdings in Baker Hughes by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 24,078,093 shares of the company's stock valued at $867,514,000 after purchasing an additional 123,172 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of Baker Hughes by 34.7% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company's stock worth $394,775,000 after buying an additional 2,811,940 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Baker Hughes by 1.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,633,006 shares of the company's stock worth $348,233,000 after buying an additional 145,537 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Baker Hughes by 8.6% during the 2nd quarter. Legal & General Group Plc now owns 8,723,388 shares of the company's stock worth $306,801,000 after buying an additional 692,859 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Baker Hughes by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,951,703 shares of the company's stock valued at $251,304,000 after buying an additional 22,383 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Citigroup boosted their price objective on Baker Hughes from $42.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. BMO Capital Markets upped their price objective on Baker Hughes from $43.00 to $45.00 and gave the company an "outperform" rating in a report on Thursday, October 10th. Stifel Nicolaus lifted their target price on Baker Hughes from $45.00 to $48.00 and gave the stock a "buy" rating in a report on Monday, November 25th. Morgan Stanley upped their price target 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, Jefferies Financial Group lifted their price objective on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a "buy" rating in a research note on Friday, January 3rd. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $47.53.

Baker Hughes Price Performance

Shares of BKR stock traded up $0.87 on Thursday, hitting $46.59. 3,481,602 shares of the company's stock were exchanged, compared to its average volume of 5,997,866. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $46.62. 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 has a 50 day moving average of $42.54 and a 200 day moving average of $38.14. The stock has a market cap of $46.10 billion, a P/E ratio of 20.94, a price-to-earnings-growth ratio of 0.79 and a beta of 1.39.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, topping analysts' consensus estimates 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 business's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.42 earnings per share. On average, equities research analysts predict that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.80%. Baker Hughes's payout ratio is presently 37.67%.

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.