Charles Schwab Investment Management Inc. Increases Stock Position in Baker Hughes (NASDAQ:BKR)

Charles Schwab Investment Management Inc. raised its position in Baker Hughes (NASDAQ:BKR) by 0.3% during the third quarter, Holdings Channel.com reports. The fund owned 6,951,703 shares of the company’s stock after purchasing an additional 22,383 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Baker Hughes were worth $251,304,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of BKR. Banco Santander S.A. bought a new position in Baker Hughes during the 3rd quarter valued at approximately $646,000. Advisors Asset Management Inc. increased its stake in shares of Baker Hughes by 20.4% during the third quarter. Advisors Asset Management Inc. now owns 89,488 shares of the company’s stock valued at $3,235,000 after buying an additional 15,172 shares during the period. Commerce Bank raised its holdings in shares of Baker Hughes by 3.1% during the third quarter. Commerce Bank now owns 30,775 shares of the company’s stock valued at $1,113,000 after acquiring an additional 921 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Baker Hughes by 13.0% in the third quarter. PNC Financial Services Group Inc. now owns 134,735 shares of the company’s stock worth $4,871,000 after acquiring an additional 15,477 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Baker Hughes in the third quarter valued at $27,914,000. 92.06% of the stock is owned by institutional investors.

Baker Hughes Trading Down 1.4 %

Shares of NASDAQ BKR opened at $44.25 on Friday. The company has a market cap of $43.79 billion, a PE ratio of 19.84, a P/E/G ratio of 0.72 and a beta of 1.38. 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 firm’s 50 day moving average price is $38.54 and its 200-day moving average price is $35.60. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $45.17.

Baker Hughes (NASDAQ:BKR) last issued its earnings results 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 return on equity of 13.77% and a net margin of 8.20%. The business had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.21 billion. During the same period last year, the business posted $0.42 EPS. The company’s revenue was up 4.0% compared to the same quarter last year. On average, equities research analysts expect that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date was Monday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is 37.67%.

Wall Street Analysts Forecast Growth

BKR has been the subject of several research reports. UBS Group decreased their price objective on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. Evercore ISI raised their price objective on shares of Baker Hughes from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Morgan Stanley upped their target price on Baker Hughes from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, October 3rd. BMO Capital Markets increased their target price on Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Finally, TD Cowen lifted their price target on Baker Hughes from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $44.59.

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.