Baker Hughes (NASDAQ:BKR) Stock Position Raised by Swedbank AB

Swedbank AB increased its stake in Baker Hughes (NASDAQ:BKR) by 24.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 656,571 shares of the company’s stock after acquiring an additional 128,031 shares during the quarter. Swedbank AB’s holdings in Baker Hughes were worth $23,735,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bridges Investment Management Inc. lifted its position in shares of Baker Hughes by 3.1% in the 3rd quarter. Bridges Investment Management Inc. now owns 9,203 shares of the company’s stock valued at $333,000 after acquiring an additional 273 shares in the last quarter. UMB Bank n.a. boosted its position in shares of Baker Hughes by 18.4% in the second quarter. UMB Bank n.a. now owns 1,873 shares of the company’s stock worth $66,000 after buying an additional 291 shares during the period. Graypoint LLC grew its holdings in shares of Baker Hughes by 3.0% during the third quarter. Graypoint LLC now owns 10,288 shares of the company’s stock valued at $372,000 after buying an additional 301 shares in the last quarter. First Trust Direct Indexing L.P. raised its position in Baker Hughes by 1.4% during the third quarter. First Trust Direct Indexing L.P. now owns 29,841 shares of the company’s stock valued at $1,079,000 after buying an additional 398 shares during the period. Finally, Guinness Atkinson Asset Management Inc lifted its stake in Baker Hughes by 6.9% in the 2nd quarter. Guinness Atkinson Asset Management Inc now owns 7,205 shares of the company’s stock worth $253,000 after acquiring an additional 467 shares in the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BKR has been the topic of a number of research reports. Citigroup upped their target price on Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. increased their price objective on Baker Hughes from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Benchmark reissued a “buy” rating and issued a $42.00 target price on shares of Baker Hughes in a research report on Thursday, October 24th. Wells Fargo & Company upgraded shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $40.00 to $42.00 in a research note on Wednesday, September 25th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $43.00 price objective on shares of Baker Hughes in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $44.76.

Baker Hughes Stock Performance

Shares of NASDAQ BKR opened at $43.55 on Tuesday. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $45.17. The company has a market cap of $43.09 billion, a P/E ratio of 19.53, a P/E/G ratio of 0.75 and a beta of 1.38. The business’s 50 day moving average is $38.73 and its two-hundred day moving average is $35.73. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (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 business had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.21 billion. During the same quarter in the previous year, the firm posted $0.42 earnings per share. Baker Hughes’s revenue was up 4.0% compared to the same quarter last year. On average, equities analysts expect that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes’s dividend payout ratio is currently 37.67%.

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.