Assetmark Inc. Boosts Stock Position in Baker Hughes (NASDAQ:BKR)

Assetmark Inc. raised its holdings in Baker Hughes (NASDAQ:BKR) by 6.5% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 20,163 shares of the company’s stock after acquiring an additional 1,230 shares during the quarter. Assetmark Inc.’s holdings in Baker Hughes were worth $729,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its stake in Baker Hughes by 32.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock worth $581,729,000 after purchasing an additional 4,207,973 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in 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 during the period. Legal & General Group Plc increased its position in shares of Baker Hughes by 8.6% during the second quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock worth $306,801,000 after acquiring an additional 692,859 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Baker Hughes by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock valued at $348,074,000 after buying an additional 680,621 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its position in shares of Baker Hughes by 10.2% during the first quarter. Clearbridge Investments LLC now owns 6,609,115 shares of the company’s stock worth $221,405,000 after buying an additional 612,715 shares during the period. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on BKR. Benchmark restated a “buy” rating and set a $42.00 price target on shares of Baker Hughes in a report on Thursday, October 24th. The Goldman Sachs Group raised their price objective on shares of Baker Hughes from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Morgan Stanley lifted their price objective on shares of Baker Hughes from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. upped their price objective on shares of Baker Hughes from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Finally, Barclays raised their price objective on shares of Baker Hughes from $41.00 to $46.00 and gave the company an “overweight” rating 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $44.59.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $42.94 on Friday. The stock has a market cap of $42.49 billion, a PE ratio of 19.24, a PEG ratio of 0.73 and a beta of 1.38. The company’s fifty day moving average is $37.30 and its 200 day moving average is $35.13. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $44.49. 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 issued 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. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The company had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $7.21 billion. During the same period last year, the company posted $0.42 EPS. Baker Hughes’s revenue was up 4.0% on a year-over-year basis. Research analysts anticipate that Baker Hughes will post 2.29 earnings per share for the current year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes’s payout ratio is 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.