Ashton Thomas Securities LLC Acquires New Shares in Baker Hughes (NASDAQ:BKR)

Ashton Thomas Securities LLC bought a new position in shares of Baker Hughes (NASDAQ:BKR) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 838 shares of the company’s stock, valued at approximately $30,000.

A number of other institutional investors have also added to or reduced their stakes in the business. New Covenant Trust Company N.A. bought a new position in shares of Baker Hughes in the 1st quarter worth $34,000. Alta Advisers Ltd bought a new position in Baker Hughes in the second quarter worth about $42,000. Headlands Technologies LLC purchased a new stake in shares of Baker Hughes during the second quarter valued at about $48,000. Quarry LP grew its position in shares of Baker Hughes by 81.1% in the 2nd quarter. Quarry LP now owns 1,594 shares of the company’s stock worth $56,000 after buying an additional 714 shares during the last quarter. Finally, UMB Bank n.a. grew its position in shares of Baker Hughes by 18.4% in the 2nd 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 last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BKR. The Goldman Sachs Group raised their target price 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. Morgan Stanley upped their target price on Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. raised their price target on Baker Hughes from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Stifel Nicolaus upped their price objective on shares of Baker Hughes from $40.00 to $45.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, Citigroup lifted their target price on shares of Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $44.59.

Baker Hughes Stock Performance

NASDAQ BKR opened at $43.18 on Friday. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $44.49. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30. The firm has a market capitalization of $42.73 billion, a P/E ratio of 19.23, a PEG ratio of 0.74 and a beta of 1.38. The stock has a 50-day simple moving average of $37.12 and a two-hundred day simple moving average of $35.07.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. The company had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.21 billion. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. 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 company posted $0.42 earnings per share. On average, equities analysts forecast that Baker Hughes will post 2.29 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date was Monday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is presently 37.67%.

Baker Hughes Company 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.