Quarry LP Reduces Position in Baker Hughes (NASDAQ:BKR)

Quarry LP lessened its stake in shares of Baker Hughes (NASDAQ:BKR) by 23.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,220 shares of the company’s stock after selling 374 shares during the period. Quarry LP’s holdings in Baker Hughes were worth $44,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Ashton Thomas Securities LLC purchased a new stake in shares of Baker Hughes in the 3rd quarter valued at $30,000. True Wealth Design LLC boosted its holdings in shares of Baker Hughes by 2,181.6% in the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company’s stock valued at $31,000 after acquiring an additional 829 shares during the last quarter. Alta Advisers Ltd purchased a new stake in shares of Baker Hughes in the 2nd quarter valued at $42,000. Headlands Technologies LLC purchased a new stake in shares of Baker Hughes in the 2nd quarter valued at $48,000. Finally, UMB Bank n.a. boosted its holdings in shares of Baker Hughes by 18.4% in the 2nd quarter. UMB Bank n.a. now owns 1,873 shares of the company’s stock valued at $66,000 after acquiring an additional 291 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Price Performance

Shares of BKR opened at $41.21 on Wednesday. Baker Hughes has a 1-year low of $28.32 and a 1-year high of $45.17. The stock has a market cap of $40.78 billion, a PE ratio of 18.48, a P/E/G ratio of 0.70 and a beta of 1.40. The firm has a 50-day simple moving average of $40.18 and a two-hundred day simple moving average of $36.46. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88.

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

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date was Monday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is currently 37.67%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BKR. Argus raised shares of Baker Hughes from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Susquehanna increased their price target on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a “positive” rating in a report on Thursday, October 24th. Royal Bank of Canada reissued an “outperform” rating and set a $43.00 price target on shares of Baker Hughes in a report on Thursday, October 24th. Morgan Stanley increased their price target on shares of Baker Hughes from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, October 3rd. Finally, Citigroup increased their price target on shares of Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $44.76.

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.