Baker Hughes (NASDAQ:BKR) Shares Acquired by Sanctuary Advisors LLC

Sanctuary Advisors LLC raised its position in shares of Baker Hughes (NASDAQ:BKR) by 92.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 87,961 shares of the company’s stock after purchasing an additional 42,148 shares during the period. Sanctuary Advisors LLC’s holdings in Baker Hughes were worth $3,180,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. National Pension Service increased its holdings in shares of Baker Hughes by 6.4% during the third quarter. National Pension Service now owns 1,362,973 shares of the company’s stock valued at $49,271,000 after purchasing an additional 81,625 shares during the period. Hixon Zuercher LLC acquired a new position in Baker Hughes during the 3rd quarter valued at about $1,980,000. Banque Cantonale Vaudoise raised its position in shares of Baker Hughes by 76.1% during the 3rd quarter. Banque Cantonale Vaudoise now owns 122,661 shares of the company’s stock worth $4,434,000 after buying an additional 53,006 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Baker Hughes by 7.6% in the 2nd quarter. AQR Capital Management LLC now owns 6,424,915 shares of the company’s stock worth $223,523,000 after acquiring an additional 455,307 shares during the period. Finally, Thrivent Financial for Lutherans boosted its holdings in shares of Baker Hughes by 90.4% in the third quarter. Thrivent Financial for Lutherans now owns 447,673 shares of the company’s stock valued at $16,183,000 after acquiring an additional 212,520 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Performance

Shares of BKR stock opened at $41.41 on Wednesday. The company has a market capitalization of $40.98 billion, a price-to-earnings ratio of 18.57, a P/E/G ratio of 0.72 and a beta of 1.40. Baker Hughes has a 1-year low of $28.32 and a 1-year high of $45.17. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The stock’s fifty day simple moving average is $40.71 and its 200-day simple moving average is $36.85.

Baker Hughes (NASDAQ:BKR) last released 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 analysts’ expectations 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 for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.42 EPS. On average, sell-side analysts predict 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 $0.21 dividend. The ex-dividend date was Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a yield of 2.03%. Baker Hughes’s payout ratio is 37.67%.

Analysts Set New Price Targets

BKR has been the topic of several recent analyst reports. BMO Capital Markets boosted their target price on Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Susquehanna upped their price objective on Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a report on Thursday, October 24th. UBS Group lowered their target price on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. 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 report on Thursday, October 3rd. Finally, Argus upgraded shares of Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $45.53.

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.