Townsquare Capital LLC Acquires 6,272 Shares of Baker Hughes (NASDAQ:BKR)

Townsquare Capital LLC boosted its stake in shares of Baker Hughes (NASDAQ:BKR) by 41.0% in the third quarter, Holdings Channel reports. The institutional investor owned 21,551 shares of the company’s stock after purchasing an additional 6,272 shares during the period. Townsquare Capital LLC’s holdings in Baker Hughes were worth $779,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of BKR. Ashton Thomas Securities LLC purchased a new stake in shares of Baker Hughes during the 3rd quarter valued at about $30,000. Alta Advisers Ltd bought a new stake in Baker Hughes in the 2nd quarter valued at $42,000. Headlands Technologies LLC purchased a new stake in shares of Baker Hughes in the second quarter worth about $48,000. Quarry LP boosted its position in shares of Baker Hughes by 81.1% during the 2nd quarter. Quarry LP now owns 1,594 shares of the company’s stock valued at $56,000 after acquiring an additional 714 shares during the last quarter. Finally, UMB Bank n.a. increased its stake in Baker Hughes by 18.4% during the second quarter. UMB Bank n.a. now owns 1,873 shares of the company’s stock worth $66,000 after acquiring an additional 291 shares during the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BKR has been the subject of a number of research analyst reports. Citigroup lifted their price objective 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. Morgan Stanley lifted their target price on Baker Hughes from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, October 3rd. Susquehanna increased their price target on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a “positive” rating in a report on Thursday, October 24th. UBS Group dropped their price objective on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Finally, Stifel Nicolaus raised their target price 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. Two investment 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.76.

Baker Hughes Stock Performance

Shares of NASDAQ BKR opened at $43.67 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. The company has a market cap of $43.21 billion, a PE ratio of 19.58, a price-to-earnings-growth ratio of 0.74 and a beta of 1.40. The company has a 50-day simple moving average of $39.68 and a 200-day simple moving average of $36.19. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $45.17.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The firm had revenue of $6.91 billion for the quarter, compared to analysts’ expectations of $7.21 billion. During the same quarter last year, the firm earned $0.42 earnings per share. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, equities analysts anticipate that Baker Hughes will post 2.29 earnings per share for the current year.

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes’s dividend payout ratio is currently 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.