Asset Allocation & Management Company LLC Takes $248,000 Position in Baker Hughes (NASDAQ:BKR)

Asset Allocation & Management Company LLC acquired a new stake in Baker Hughes (NASDAQ:BKR) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 6,045 shares of the company’s stock, valued at approximately $248,000.

A number of other institutional investors also recently modified their holdings of BKR. Hotchkis & Wiley Capital Management LLC boosted its stake in Baker Hughes by 34.7% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock worth $394,775,000 after acquiring an additional 2,811,940 shares in the last quarter. Yaupon Capital Management LP bought a new position in Baker Hughes during the third quarter worth $47,296,000. Eagle Asset Management Inc. boosted its stake in Baker Hughes by 18.6% during the third quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company’s stock worth $198,326,000 after acquiring an additional 860,219 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Baker Hughes by 436.0% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,004,647 shares of the company’s stock worth $36,318,000 after acquiring an additional 817,227 shares in the last quarter. Finally, Groupama Asset Managment boosted its stake in Baker Hughes by 1,045.1% during the third quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock worth $32,000 after acquiring an additional 811,711 shares in the last quarter. 92.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Jefferies Financial Group upped their price objective on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Stifel Nicolaus upped their price objective on shares of Baker Hughes from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Wells Fargo & Company upped their price objective on shares of Baker Hughes from $42.00 to $49.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Citigroup increased their target price on shares of Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, BMO Capital Markets increased their target price on shares of Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, Baker Hughes presently has an average rating of “Moderate Buy” and a consensus price target of $47.18.

Baker Hughes Price Performance

Shares of BKR stock traded up $1.27 during trading hours on Monday, reaching $44.53. The stock had a trading volume of 1,842,959 shares, compared to its average volume of 5,309,659. The stock’s fifty day simple moving average is $42.28 and its 200 day simple moving average is $38.00. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $45.17. The firm has a market capitalization of $44.06 billion, a PE ratio of 19.97, a PEG ratio of 0.72 and a beta of 1.39.

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, beating the consensus estimate of $0.61 by $0.06. The business had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.21 billion. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. Baker Hughes’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.42 earnings per share. On average, equities research analysts predict that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.89%. The ex-dividend date was Monday, November 4th. Baker Hughes’s payout ratio is 37.67%.

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.