Catalyst Capital Advisors LLC Buys 3,608 Shares of Baker Hughes (NASDAQ:BKR)

Catalyst Capital Advisors LLC lifted its stake in shares of Baker Hughes (NASDAQ:BKR) by 379.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,560 shares of the company’s stock after purchasing an additional 3,608 shares during the period. Catalyst Capital Advisors LLC’s holdings in Baker Hughes were worth $165,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in BKR. New Covenant Trust Company N.A. bought a new stake in Baker Hughes during the first quarter worth $34,000. Alta Advisers Ltd acquired a new position in shares of Baker Hughes during the 2nd quarter worth about $42,000. Headlands Technologies LLC bought a new stake in shares of Baker Hughes in the 2nd quarter valued at about $48,000. 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 valued at $56,000 after purchasing an additional 714 shares during the last quarter. Finally, UMB Bank n.a. grew its holdings in Baker Hughes by 18.4% during the second quarter. UMB Bank n.a. now owns 1,873 shares of the company’s stock worth $66,000 after purchasing an additional 291 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BKR. Bank of America cut their price objective on Baker Hughes from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Evercore ISI lifted their price objective on shares of Baker Hughes from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Citigroup dropped their price objective on shares of Baker Hughes from $44.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, September 27th. Argus upgraded shares of Baker Hughes from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Finally, Benchmark reiterated a “buy” rating and issued a $42.00 price target on shares of Baker Hughes in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.12.

Baker Hughes Stock Performance

NASDAQ:BKR opened at $38.58 on Wednesday. The company has a market cap of $38.18 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 0.64 and a beta of 1.38. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $39.05. 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 fifty day moving average price of $36.10 and a 200-day moving average price of $34.64.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. The business had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.21 billion. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. Baker Hughes’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 2.28 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. Investors of record on Monday, November 4th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $0.84 annualized dividend and a dividend yield of 2.18%. Baker Hughes’s dividend payout ratio is 37.67%.

Insider Activity at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $35.00, for a total transaction of $4,000,010.00. Following the completion of the sale, the chief executive officer now directly owns 502,053 shares in the company, valued at $17,571,855. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is currently owned by insiders.

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.