Baker Hughes (NASDAQ:BKR) Stock Holdings Lifted by Farther Finance Advisors LLC

Farther Finance Advisors LLC raised its stake in Baker Hughes (NASDAQ:BKR) by 51.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,574 shares of the company’s stock after buying an additional 1,208 shares during the period. Farther Finance Advisors LLC’s holdings in Baker Hughes were worth $129,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of BKR. New Covenant Trust Company N.A. purchased a new position in shares of Baker Hughes during the 1st quarter valued at $34,000. Alta Advisers Ltd acquired a new position in Baker Hughes in the second quarter worth about $42,000. Headlands Technologies LLC bought a new stake in Baker Hughes during the second quarter worth about $48,000. Quarry LP grew its stake in Baker Hughes by 81.1% during the second quarter. Quarry LP now owns 1,594 shares of the company’s stock worth $56,000 after buying an additional 714 shares during the last quarter. Finally, UMB Bank n.a. grew its stake in Baker Hughes by 18.4% during 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. Institutional investors own 92.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on BKR shares. Susquehanna increased their price target on shares of Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a research note on Thursday, October 24th. Morgan Stanley increased their target price 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. The Goldman Sachs Group raised their price objective on shares of Baker Hughes from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Stifel Nicolaus lifted their price target on shares of Baker Hughes from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, TD Cowen lifted their price objective on shares of Baker Hughes from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $44.12.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $44.11 on Tuesday. The firm has a 50 day moving average of $36.57 and a 200-day moving average of $34.86. The stock has a market capitalization of $43.65 billion, a PE ratio of 19.78, a PEG ratio of 0.73 and a beta of 1.38. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $44.32.

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. The company had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $7.21 billion. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.42 EPS. On average, equities research analysts predict that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 4th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Monday, November 4th. Baker Hughes’s payout ratio is presently 37.67%.

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.