National Bank of Canada FI Increases Stock Position in Baker Hughes (NASDAQ:BKR)

National Bank of Canada FI lifted its holdings in shares of Baker Hughes (NASDAQ:BKR) by 60.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,270,165 shares of the company’s stock after purchasing an additional 478,009 shares during the period. National Bank of Canada FI owned about 0.13% of Baker Hughes worth $45,916,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Cetera Advisors LLC increased its position in Baker Hughes by 55.8% during the first quarter. Cetera Advisors LLC now owns 9,319 shares of the company’s stock worth $312,000 after buying an additional 3,339 shares in the last quarter. Czech National Bank increased its position in Baker Hughes by 8.0% during the 2nd quarter. Czech National Bank now owns 190,179 shares of the company’s stock worth $6,689,000 after purchasing an additional 14,073 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in Baker Hughes by 21.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 7,736 shares of the company’s stock valued at $272,000 after purchasing an additional 1,342 shares during the last quarter. Wedmont Private Capital lifted its holdings in Baker Hughes by 4.6% in the 2nd quarter. Wedmont Private Capital now owns 16,870 shares of the company’s stock valued at $582,000 after purchasing an additional 739 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Baker Hughes by 20.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 28,216 shares of the company’s stock worth $992,000 after purchasing an additional 4,884 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on BKR shares. Stifel Nicolaus boosted their price objective on shares of Baker Hughes from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Royal Bank of Canada reissued an “outperform” rating and set a $43.00 price target on shares of Baker Hughes in a research note on Thursday, October 24th. Benchmark reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Baker Hughes in a research report on Thursday, October 24th. Wells Fargo & Company upgraded Baker Hughes from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $40.00 to $42.00 in a research report on Wednesday, September 25th. Finally, Argus upgraded Baker Hughes from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, Baker Hughes presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.76.

Baker Hughes Stock Down 2.8 %

Shares of NASDAQ BKR opened at $41.31 on Monday. The stock has a fifty day moving average price of $40.07 and a 200 day moving average price of $36.39. The company has a market cap of $40.88 billion, a P/E ratio of 18.52, a P/E/G ratio of 0.72 and a beta of 1.40. Baker Hughes has a 12-month low of $28.32 and a 12-month 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.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.61 by $0.06. The firm had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.21 billion. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. Baker Hughes’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.42 EPS. Research analysts anticipate that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were issued 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 dividend payout ratio is currently 37.67%.

Baker Hughes 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.