City Center Advisors LLC Takes $271,000 Position in Baker Hughes (NASDAQ:BKR)

City Center Advisors LLC acquired a new position in Baker Hughes (NASDAQ:BKR) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 7,490 shares of the company’s stock, valued at approximately $271,000.

A number of other institutional investors have also recently bought and sold shares of BKR. Price T Rowe Associates Inc. MD boosted its holdings in shares of Baker Hughes by 32.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock worth $581,729,000 after purchasing an additional 4,207,973 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Baker Hughes by 7.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock valued at $348,074,000 after buying an additional 680,621 shares during the period. Legal & General Group Plc grew its holdings in shares of Baker Hughes by 8.6% during the 2nd quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock valued at $306,801,000 after acquiring an additional 692,859 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Baker Hughes by 3.1% in the second quarter. American Century Companies Inc. now owns 8,274,250 shares of the company’s stock worth $291,005,000 after acquiring an additional 248,122 shares during the last quarter. Finally, Clearbridge Investments LLC raised its holdings in shares of Baker Hughes by 10.2% during the first quarter. Clearbridge Investments LLC now owns 6,609,115 shares of the company’s stock worth $221,405,000 after acquiring an additional 612,715 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Baker Hughes Trading Up 0.1 %

Shares of Baker Hughes stock opened at $37.96 on Tuesday. The company has a market cap of $37.88 billion, a price-to-earnings ratio of 21.21, a PEG ratio of 0.59 and a beta of 1.38. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $39.05. The company’s fifty day simple moving average is $35.31 and its 200-day simple moving average is $34.03. The company has a current ratio of 1.27, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.08. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The business had revenue of $7.10 billion during the quarter, compared to analyst estimates of $6.81 billion. During the same quarter in the prior year, the business earned $0.39 earnings per share. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. As a group, sell-side analysts expect that Baker Hughes will post 2.25 EPS for the current year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Tuesday, August 6th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend was Tuesday, August 6th. Baker Hughes’s dividend payout ratio is presently 46.93%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Morgan Stanley boosted their target price 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 stock a “buy” rating in a report on Monday, July 29th. TD Cowen lifted their target price on shares of Baker Hughes from $46.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Jefferies Financial Group increased their price target on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, Benchmark restated a “buy” rating and set a $40.00 price target on shares of Baker Hughes in a report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.56.

Insider Activity at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of Baker Hughes stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $35.00, for a total transaction of $4,000,010.00. Following the sale, the chief executive officer now owns 502,053 shares in the company, valued at $17,571,855. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.25% of the stock is currently owned by corporate insiders.

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.