Weiss Asset Management LP Sells 378,139 Shares of Baker Hughes (NASDAQ:BKR)

Weiss Asset Management LP reduced its position in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 84.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,251 shares of the company's stock after selling 378,139 shares during the period. Weiss Asset Management LP's holdings in Baker Hughes were worth $2,540,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BKR. Ashton Thomas Securities LLC bought a new stake in shares of Baker Hughes in the third quarter worth $30,000. True Wealth Design LLC boosted its position in Baker Hughes by 2,181.6% during the third quarter. True Wealth Design LLC now owns 867 shares of the company's stock valued at $31,000 after acquiring an additional 829 shares during the last quarter. Alta Advisers Ltd bought a new stake in Baker Hughes during the second quarter valued at $42,000. Headlands Technologies LLC bought a new stake in Baker Hughes during the second quarter valued at $48,000. Finally, Quarry LP boosted its position in Baker Hughes by 81.1% during the second quarter. Quarry LP now owns 1,594 shares of the company's stock valued at $56,000 after acquiring an additional 714 shares during the last quarter. Institutional investors own 92.06% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on BKR shares. Citigroup upped their price objective on shares of Baker Hughes from $42.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, November 14th. Royal Bank of Canada reiterated an "outperform" rating and set a $43.00 price objective on shares of Baker Hughes in a report on Thursday, October 24th. Argus upgraded shares of Baker Hughes from a "hold" rating to a "buy" rating in a report on Friday, October 25th. Stifel Nicolaus upped their price objective on shares of Baker Hughes from $45.00 to $48.00 and gave the company a "buy" rating in a report on Monday, November 25th. Finally, BMO Capital Markets upped their price objective on shares of Baker Hughes from $43.00 to $45.00 and gave the company an "outperform" rating in a report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $44.76.

Baker Hughes Stock Down 2.8 %

NASDAQ:BKR traded down $1.20 on Friday, hitting $41.31. The stock had a trading volume of 7,455,021 shares, compared to its average volume of 5,830,159. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30. The stock has a market cap of $40.88 billion, a P/E ratio of 18.52, a price-to-earnings-growth ratio of 0.72 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 firm's fifty day simple moving average is $40.07 and its two-hundred day simple moving average is $36.36.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $7.21 billion. During the same quarter last year, the business posted $0.42 EPS. The company's revenue for the quarter was up 4.0% on a year-over-year basis. Analysts predict that Baker Hughes will post 2.29 earnings per share for the current year.

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date was Monday, November 4th. 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.