Zurcher Kantonalbank Zurich Cantonalbank Has $15.79 Million Stock Position in Baker Hughes (NASDAQ:BKR)

Zurcher Kantonalbank Zurich Cantonalbank reduced its holdings in Baker Hughes (NASDAQ:BKR) by 1.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 436,655 shares of the company’s stock after selling 7,746 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Baker Hughes were worth $15,785,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of BKR. Ashton Thomas Securities LLC purchased a new stake in shares of Baker Hughes during the third quarter worth $30,000. Alta Advisers Ltd purchased a new stake in shares of Baker Hughes during the 2nd quarter worth about $42,000. Headlands Technologies LLC acquired a new stake in shares of Baker Hughes during the 2nd quarter valued at about $48,000. Quarry LP grew its stake 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 buying an additional 714 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in Baker Hughes by 18.4% in the second quarter. UMB Bank n.a. now owns 1,873 shares of the company’s stock worth $66,000 after buying an additional 291 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. UBS Group decreased their target price on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. BMO Capital Markets upped their price objective on shares of Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Argus upgraded Baker Hughes from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Citigroup upped their price target on Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, Benchmark reissued a “buy” rating and set a $42.00 price objective on shares of Baker Hughes in a report on Thursday, October 24th. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, Baker Hughes has an average rating of “Moderate Buy” and an average price target of $44.76.

Baker Hughes Stock Performance

NASDAQ BKR opened at $43.95 on Friday. The company’s fifty day moving average is $39.39 and its two-hundred day moving average is $36.02. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $45.17. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. The firm has a market capitalization of $43.49 billion, a price-to-earnings ratio of 19.71, a P/E/G ratio of 0.74 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. The business had revenue of $6.91 billion for 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%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the business earned $0.42 earnings per share. Equities research analysts forecast that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were given a $0.21 dividend. The ex-dividend date was Monday, November 4th. This represents a $0.84 annualized dividend and a yield of 1.91%. Baker Hughes’s dividend payout ratio (DPR) is currently 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.