130,556 Shares in Baker Hughes (NASDAQ:BKR) Bought by Interval Partners LP

Interval Partners LP purchased a new stake in shares of Baker Hughes (NASDAQ:BKR) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 130,556 shares of the company’s stock, valued at approximately $4,592,000.

A number of other hedge funds also recently bought and sold shares of the company. Redmont Wealth Advisors LLC acquired a new stake in Baker Hughes in the 1st quarter worth $27,000. New Covenant Trust Company N.A. bought a new stake in shares of Baker Hughes in the 1st quarter worth approximately $34,000. Alta Advisers Ltd acquired a new stake in shares of Baker Hughes during the 2nd quarter worth approximately $42,000. Headlands Technologies LLC bought a new stake in shares of Baker Hughes during the second quarter valued at approximately $48,000. Finally, UMB Bank n.a. raised its stake in shares of Baker Hughes by 281.2% in the first quarter. UMB Bank n.a. now owns 1,582 shares of the company’s stock valued at $53,000 after purchasing an additional 1,167 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors.

Baker Hughes Stock Up 1.1 %

Shares of NASDAQ BKR opened at $36.45 on Tuesday. The stock has a 50-day moving average price of $35.21 and a two-hundred day moving average price of $33.75. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $39.05. The company has a current ratio of 1.27, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37. The company has a market cap of $36.38 billion, a price-to-earnings ratio of 20.36, a PEG ratio of 0.54 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Thursday, July 25th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.49 by $0.08. The business had revenue of $7.10 billion for the quarter, compared to analysts’ expectations of $6.81 billion. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The firm’s revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.39 earnings per share. As a group, analysts forecast that Baker Hughes will post 2.24 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Tuesday, August 6th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend was Tuesday, August 6th. Baker Hughes’s payout ratio is 46.93%.

Insider Transactions at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 114,286 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $35.00, for a total transaction of $4,000,010.00. Following the transaction, the chief executive officer now directly owns 502,053 shares of the company’s stock, valued at approximately $17,571,855. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

BKR has been the topic of several research analyst reports. Susquehanna upped their price objective on shares of Baker Hughes from $40.00 to $46.00 and gave the stock a “positive” rating in a research note on Monday, July 29th. Morgan Stanley dropped their price target on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Benchmark restated a “buy” rating and set a $40.00 target price on shares of Baker Hughes in a report on Friday, July 26th. Evercore ISI lifted their price target on Baker Hughes from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Baker Hughes from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $43.19.

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.