Baker Hughes (NASDAQ:BKR) Shares Acquired by National Pension Service

National Pension Service increased its stake in shares of Baker Hughes (NASDAQ:BKR) by 6.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,362,973 shares of the company’s stock after purchasing an additional 81,625 shares during the quarter. National Pension Service owned approximately 0.14% of Baker Hughes worth $49,271,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. acquired a new position in shares of Baker Hughes in the first quarter valued at approximately $34,000. Alta Advisers Ltd acquired a new stake in shares of Baker Hughes during the 2nd quarter worth $42,000. Headlands Technologies LLC purchased a new position in shares of Baker Hughes in the 2nd quarter worth $48,000. Quarry LP boosted its holdings in Baker Hughes by 81.1% in 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. Finally, UMB Bank n.a. grew its position in Baker Hughes by 18.4% during the second quarter. UMB Bank n.a. now owns 1,873 shares of the company’s stock valued at $66,000 after acquiring an additional 291 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BKR. Bank of America reduced their price objective on Baker Hughes from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Barclays upped their target price on Baker Hughes from $41.00 to $46.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Benchmark reissued a “buy” rating and set a $42.00 price target on shares of Baker Hughes in a research report on Thursday, October 24th. Argus upgraded shares of Baker Hughes from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $43.00 target price on shares of Baker Hughes in a research report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $44.12.

Insider Buying and Selling

In related news, CEO Lorenzo Simonelli sold 114,286 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $35.00, for a total value of $4,000,010.00. Following the sale, the chief executive officer now owns 502,053 shares of the company’s stock, valued at approximately $17,571,855. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.25% of the stock is owned by company insiders.

Baker Hughes Trading Up 1.1 %

NASDAQ:BKR opened at $38.58 on Wednesday. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $39.05. 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 company has a market cap of $38.18 billion, a PE ratio of 17.30, a P/E/G ratio of 0.64 and a beta of 1.38. The business’s 50 day moving average is $36.10 and its two-hundred day moving average is $34.64.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data 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. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The firm had revenue of $6.91 billion for the quarter, compared to analysts’ expectations of $7.21 billion. During the same period last year, the business posted $0.42 earnings per share. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, analysts predict that Baker Hughes will post 2.28 EPS for the current year.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 4th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Monday, November 4th. Baker Hughes’s dividend 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.