Harvest Fund Management Co. Ltd Grows Stock Position in Baker Hughes (NASDAQ:BKR)

Harvest Fund Management Co. Ltd increased its holdings in Baker Hughes (NASDAQ:BKR) by 61.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 48,770 shares of the company’s stock after acquiring an additional 18,571 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Baker Hughes were worth $1,763,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BKR. Eagle Asset Management Inc. grew its holdings in shares of Baker Hughes by 18.6% during the 3rd quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company’s stock worth $198,326,000 after purchasing an additional 860,219 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in shares of Baker Hughes by 63.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,001,870 shares of the company’s stock valued at $72,368,000 after purchasing an additional 780,417 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Baker Hughes in the third quarter valued at $27,914,000. Legal & General Group Plc boosted its holdings in Baker Hughes by 8.6% in the second quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock valued at $306,801,000 after purchasing an additional 692,859 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Baker Hughes by 7.4% during the 2nd 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. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Stock Down 1.6 %

BKR stock opened at $43.55 on Tuesday. The company has a market cap of $43.09 billion, a price-to-earnings ratio of 19.53, a price-to-earnings-growth ratio of 0.75 and a beta of 1.38. The company has a fifty day moving average price of $38.73 and a 200 day moving average price of $35.73. 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 12 month low of $28.32 and a 12 month high of $45.17.

Baker Hughes (NASDAQ:BKR) last announced its 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 business had revenue of $6.91 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.42 earnings per share. Sell-side analysts expect that Baker Hughes will post 2.29 earnings per share for the current year.

Baker Hughes Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Stifel Nicolaus lifted their price objective on Baker Hughes from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Monday. Citigroup lifted their price target on shares of Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Morgan Stanley increased their price objective on shares of Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. UBS Group decreased 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 report on Wednesday, September 18th. Finally, TD Cowen increased their target price on Baker Hughes from $46.00 to $50.00 and gave the company a “buy” rating in a report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $44.76.

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.