National Pension Service acquired a new position in shares of Baker Hughes Company (NYSE:BKR) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 600,802 shares of the company’s stock, valued at approximately $13,939,000. National Pension Service owned 0.06% of Baker Hughes as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp purchased a new stake in shares of Baker Hughes in the 3rd quarter worth $687,949,000. Point72 Asset Management L.P. purchased a new position in shares of Baker Hughes during the third quarter valued at $70,939,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Baker Hughes during the third quarter valued at $64,560,000. Parametric Portfolio Associates LLC bought a new stake in shares of Baker Hughes in the third quarter valued at about $46,880,000. Finally, Poplar Forest Capital LLC bought a new stake in shares of Baker Hughes in the third quarter valued at about $40,367,000. 97.54% of the stock is owned by institutional investors and hedge funds.
In related news, insider William D. Marsh sold 6,136 shares of Baker Hughes stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $22.15, for a total transaction of $135,912.40. Following the completion of the sale, the insider now owns 39,504 shares of the company’s stock, valued at $875,013.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William D. Marsh sold 5,857 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $22.65, for a total value of $132,661.05. Following the completion of the sale, the insider now owns 33,647 shares in the company, valued at approximately $762,104.55. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.
BKR stock opened at $22.14 on Tuesday. Baker Hughes Company has a one year low of $20.09 and a one year high of $28.65. The stock has a market cap of $23.03 billion, a price-to-earnings ratio of 33.55, a PEG ratio of 3.17 and a beta of 0.98. The company has a quick ratio of 1.07, a current ratio of 1.58 and a debt-to-equity ratio of 0.18.
Baker Hughes (NYSE:BKR) last posted its earnings results on Wednesday, October 30th. The company reported $0.21 EPS for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.03). Baker Hughes had a net margin of 0.89% and a return on equity of 1.19%. The firm had revenue of $5.88 billion for the quarter, compared to analysts’ expectations of $6.11 billion. During the same period in the previous year, the company earned $0.19 EPS. The company’s revenue was up 2.4% on a year-over-year basis. Analysts predict that Baker Hughes Company will post 0.89 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 11th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend was Thursday, November 7th. Baker Hughes’s payout ratio is presently 109.09%.
Several research analysts have issued reports on BKR shares. TheStreet cut shares of Baker Hughes from a “c-” rating to a “d” rating in a report on Monday, October 21st. Zacks Investment Research lowered shares of Baker Hughes from a “hold” rating to a “strong sell” rating in a report on Friday, November 8th. Barclays reaffirmed a “buy” rating and issued a $28.00 price target on shares of Baker Hughes in a research report on Friday, November 1st. Susquehanna Bancshares upgraded shares of Baker Hughes from a “neutral” rating to a “positive” rating in a research note on Friday, November 15th. Finally, ValuEngine lowered shares of Baker Hughes from a “hold” rating to a “sell” rating in a report on Monday, November 11th. Two research analysts have rated the stock with a sell rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $30.00.
About Baker Hughes
Baker Hughes Company provides integrated oilfield products, services, and digital solutions worldwide. Its Oilfield Services segment offers drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, completions tools and systems, wellbore intervention tools and services, artificial lift systems, pressure pumping systems, and oilfield and industrial chemicals for integrated oil and natural gas and oilfield service companies.
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