Baker Hughes (NASDAQ:BKR) Shares Bought by JB Capital LLC

JB Capital LLC raised its stake in Baker Hughes (NASDAQ:BKR) by 3.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 76,845 shares of the company’s stock after buying an additional 2,798 shares during the period. JB Capital LLC’s holdings in Baker Hughes were worth $2,778,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. New Covenant Trust Company N.A. purchased a new position in shares of Baker Hughes during the 1st quarter worth approximately $34,000. Alta Advisers Ltd purchased a new stake in shares of Baker Hughes during the second quarter worth about $42,000. Headlands Technologies LLC acquired a new position in shares of Baker Hughes in the second quarter valued at approximately $48,000. Quarry LP lifted its stake in shares of 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 buying an additional 714 shares during the period. Finally, UMB Bank n.a. boosted 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 worth $66,000 after acquiring an additional 291 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BKR. Citigroup reduced their price target on Baker Hughes from $44.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, September 27th. UBS Group decreased their price target on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. Argus raised shares of Baker Hughes from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. 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. Finally, Benchmark restated a “buy” rating and issued a $42.00 target price on shares of Baker Hughes in a report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $44.12.

Baker Hughes Stock Down 1.2 %

Shares of NASDAQ:BKR traded down $0.52 during mid-day trading on Thursday, hitting $42.22. 2,446,453 shares of the company traded hands, compared to its average volume of 7,220,044. The firm has a market cap of $41.78 billion, a P/E ratio of 19.17, a PEG ratio of 0.64 and a beta of 1.38. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $43.23. The firm’s 50 day simple moving average is $36.26 and its 200 day simple moving average is $34.70. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30.

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

Baker Hughes Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a yield of 1.99%. Baker Hughes’s dividend payout ratio (DPR) is presently 37.67%.

About Baker Hughes

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.