Chartwell Investment Partners LLC increased its holdings in Baker Hughes (NASDAQ:BKR - Free Report) by 27.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 299,804 shares of the company's stock after buying an additional 63,840 shares during the period. Chartwell Investment Partners LLC's holdings in Baker Hughes were worth $10,838,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC acquired a new position in Baker Hughes during the 3rd quarter worth about $30,000. New Covenant Trust Company N.A. bought a new stake in Baker Hughes during the first quarter worth $34,000. Alta Advisers Ltd bought a new stake in shares of Baker Hughes in the 2nd quarter worth $42,000. Headlands Technologies LLC purchased a new stake in Baker Hughes in the 2nd quarter valued at about $48,000. Finally, Quarry LP lifted its holdings 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 acquiring an additional 714 shares during the period. 92.06% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently commented on the company. Morgan Stanley upped their price objective on Baker Hughes from $42.00 to $45.00 and gave the company an "overweight" rating in a research note on Thursday, October 3rd. Stifel Nicolaus increased their price objective on Baker Hughes from $40.00 to $45.00 and gave the company a "buy" rating in a research report on Monday, July 29th. Wells Fargo & Company upgraded Baker Hughes from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $40.00 to $42.00 in a report on Wednesday, September 25th. TD Cowen increased their price target 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. Finally, Evercore ISI boosted their target price on Baker Hughes from $42.00 to $46.00 and gave the company an "outperform" rating in a research note on Monday, July 29th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $44.12.
Get Our Latest Analysis on Baker Hughes
NASDAQ:BKR opened at $43.01 on Monday. The stock has a market capitalization of $42.56 billion, a price-to-earnings ratio of 19.29, a price-to-earnings-growth ratio of 0.72 and a beta of 1.38. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37. The stock's fifty day moving average is $36.57 and its two-hundred day moving average is $34.86. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $43.67.
Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, topping 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 firm had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.21 billion. During the same quarter in the previous year, the firm posted $0.42 earnings per share. The company's revenue was up 4.0% compared to the same quarter last year. Research analysts anticipate that Baker Hughes will post 2.29 EPS for the current year.
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 paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend is Monday, November 4th. Baker Hughes's dividend payout ratio (DPR) is presently 37.67%.
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.
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