Baker Hughes (NASDAQ:BKR) Shares Acquired by Empirical Finance LLC

Empirical Finance LLC boosted its holdings in Baker Hughes (NASDAQ:BKR) by 2.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 31,049 shares of the company’s stock after buying an additional 874 shares during the quarter. Empirical Finance LLC’s holdings in Baker Hughes were worth $1,122,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of BKR. Ashton Thomas Securities LLC purchased a new stake in shares of Baker Hughes during the third quarter valued at $30,000. New Covenant Trust Company N.A. acquired a new position in shares of Baker Hughes in the first quarter worth about $34,000. Alta Advisers Ltd purchased a new position in shares of Baker Hughes in the second quarter worth approximately $42,000. Headlands Technologies LLC acquired a new stake in shares of Baker Hughes during the second quarter valued at approximately $48,000. Finally, Quarry LP lifted its position in shares of 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 acquiring an additional 714 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BKR. UBS Group lowered their price objective on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. 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. Royal Bank of Canada reissued an “outperform” rating and issued a $43.00 price objective on shares of Baker Hughes in a research note on Thursday, October 24th. Citigroup lifted their target price on Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday. Finally, BMO Capital Markets increased their price target on shares of Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $44.59.

Baker Hughes Stock Down 0.6 %

Baker Hughes stock opened at $42.94 on Friday. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. Baker Hughes has a 1-year low of $28.32 and a 1-year high of $44.49. The firm’s fifty day simple moving average is $37.48 and its 200-day simple moving average is $35.21. The company has a market capitalization of $42.49 billion, a P/E ratio of 19.26, a P/E/G ratio of 0.73 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.06. The company had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.21 billion. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The business’s revenue was up 4.0% compared to the same quarter last year. During the same period last year, the company earned $0.42 earnings per share. Sell-side analysts forecast that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were given 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 yield of 1.96%. Baker Hughes’s 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.