Private Advisor Group LLC Has $329,000 Stock Holdings in Baker Hughes (NASDAQ:BKR)

Private Advisor Group LLC decreased its position in shares of Baker Hughes (NASDAQ:BKR) by 6.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,093 shares of the company’s stock after selling 640 shares during the quarter. Private Advisor Group LLC’s holdings in Baker Hughes were worth $329,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Twin Tree Management LP boosted its holdings in shares of Baker Hughes by 183.0% during the 1st quarter. Twin Tree Management LP now owns 338,738 shares of the company’s stock valued at $11,348,000 after acquiring an additional 219,060 shares in the last quarter. Wedge Capital Management L L P NC lifted its holdings in Baker Hughes by 20.5% during the 2nd quarter. Wedge Capital Management L L P NC now owns 726,291 shares of the company’s stock worth $25,544,000 after buying an additional 123,689 shares during the period. National Bank of Canada FI lifted its holdings in Baker Hughes by 4.7% during the 1st quarter. National Bank of Canada FI now owns 869,786 shares of the company’s stock worth $28,129,000 after buying an additional 39,031 shares during the period. AQR Capital Management LLC lifted its holdings in Baker Hughes by 7.6% during the 2nd quarter. AQR Capital Management LLC now owns 6,424,915 shares of the company’s stock worth $223,523,000 after buying an additional 455,307 shares during the period. Finally, Seven Eight Capital LP acquired a new position in Baker Hughes during the 1st quarter worth about $1,431,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Trading Up 10.8 %

Shares of BKR stock opened at $42.74 on Thursday. The company’s fifty day simple moving average is $36.26 and its two-hundred day simple moving average is $34.70. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $43.23. The stock has a market capitalization of $42.29 billion, a price-to-earnings ratio of 19.17, a PEG ratio of 0.64 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share 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 analysts’ expectations of $7.21 billion. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.42 earnings per share. As a group, analysts anticipate that Baker Hughes will post 2.28 earnings per share for the current year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $0.84 annualized dividend and a yield of 1.97%. Baker Hughes’s payout ratio is 37.67%.

Analysts Set New Price Targets

BKR has been the topic of several recent research reports. Bank of America cut their target price on Baker Hughes from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, July 15th. TD Cowen lifted their target price on Baker Hughes from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Barclays lifted their target price on Baker Hughes from $41.00 to $46.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. lifted their target price on Baker Hughes from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Finally, Argus raised Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, Baker Hughes presently has an average rating of “Moderate Buy” and a consensus target price of $44.12.

About Baker Hughes

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.