Baker Hughes (NASDAQ:BKR) Shares Acquired by Adams Natural Resources Fund Inc.

Adams Natural Resources Fund Inc. grew its position in Baker Hughes (NASDAQ:BKR) by 34.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 398,800 shares of the company’s stock after acquiring an additional 102,400 shares during the period. Baker Hughes comprises approximately 2.1% of Adams Natural Resources Fund Inc.’s investment portfolio, making the stock its 13th biggest position. Adams Natural Resources Fund Inc.’s holdings in Baker Hughes were worth $14,417,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD increased its stake 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 in the last quarter. Legal & General Group Plc increased its stake in shares of Baker Hughes by 8.6% during the second quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock worth $306,801,000 after purchasing an additional 692,859 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Baker Hughes by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock worth $348,074,000 after purchasing an additional 680,621 shares in the last quarter. Clearbridge Investments LLC increased its stake 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 purchasing an additional 612,715 shares in the last quarter. Finally, Intermede Investment Partners Ltd increased its stake in shares of Baker Hughes by 16.5% during the first quarter. Intermede Investment Partners Ltd now owns 4,284,361 shares of the company’s stock worth $143,526,000 after purchasing an additional 606,671 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Wall Street Analysts Forecast Growth

BKR has been the subject of a number of research reports. Bank of America cut their target price on shares of Baker Hughes from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Morgan Stanley boosted their target price on shares of Baker Hughes from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, October 3rd. The Goldman Sachs Group upped their price objective on shares of Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Benchmark reaffirmed a “buy” rating and set a $42.00 price objective on shares of Baker Hughes in a research note on Thursday, October 24th. Finally, UBS Group dropped their price objective on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. Two 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 currently has an average rating of “Moderate Buy” and a consensus price target of $44.12.

Insiders Place Their Bets

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of the stock in a transaction that occurred 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 directly owns 502,053 shares in the company, valued at $17,571,855. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is owned by company insiders.

Baker Hughes Stock Performance

Shares of BKR stock opened at $37.09 on Wednesday. The firm’s 50 day moving average price is $35.80 and its 200-day moving average price is $34.44. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.27. Baker Hughes has a one year low of $28.32 and a one year high of $39.05. The firm has a market cap of $37.02 billion, a P/E ratio of 20.72, a P/E/G ratio of 0.61 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.61 by $0.06. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The firm had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.21 billion. During the same period in the prior year, the business posted $0.42 EPS. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, equities research analysts predict that Baker Hughes will post 2.25 EPS for the current year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a yield of 2.26%. Baker Hughes’s dividend payout ratio (DPR) is presently 46.93%.

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.