Hotchkis & Wiley Capital Management LLC Increases Holdings in Baker Hughes (NASDAQ:BKR)

Hotchkis & Wiley Capital Management LLC boosted its holdings in Baker Hughes (NASDAQ:BKR) by 34.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,920,478 shares of the company’s stock after acquiring an additional 2,811,940 shares during the period. Baker Hughes comprises about 1.3% of Hotchkis & Wiley Capital Management LLC’s investment portfolio, making the stock its 28th biggest holding. Hotchkis & Wiley Capital Management LLC owned about 1.10% of Baker Hughes worth $394,775,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Clearline Capital LP bought a new stake in Baker Hughes during the third quarter worth approximately $6,507,000. Ascent Group LLC bought a new position in shares of Baker Hughes during the third quarter worth about $221,000. Benjamin Edwards Inc. bought a new stake in shares of Baker Hughes in the 3rd quarter valued at about $283,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Baker Hughes in the third quarter valued at about $386,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Baker Hughes during the 3rd quarter worth $416,000. 92.06% of the stock is currently owned by institutional investors.

Baker Hughes Price Performance

Shares of BKR opened at $43.69 on Tuesday. The company has a 50 day moving average of $39.39 and a 200-day moving average of $36.04. The stock has a market capitalization of $43.23 billion, a P/E ratio of 19.59, a P/E/G ratio of 0.74 and a beta of 1.40. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $45.17.

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

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date was Monday, November 4th. Baker Hughes’s payout ratio is currently 37.67%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company upgraded shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $40.00 to $42.00 in a report on Wednesday, September 25th. Citigroup raised their price objective on Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Morgan Stanley upped their price target on shares of Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. BMO Capital Markets lifted their price target on Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Finally, Susquehanna boosted their price objective on Baker Hughes from $46.00 to $48.00 and gave the stock a “positive” rating in a research report on Thursday, October 24th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, Baker Hughes has a consensus rating of “Moderate Buy” and an average target price of $44.76.

Baker Hughes Company 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.