Pathstone Holdings LLC Cuts Stock Position in Baker Hughes (NASDAQ:BKR)

Pathstone Holdings LLC lessened its holdings in Baker Hughes (NASDAQ:BKR) by 15.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 131,883 shares of the company’s stock after selling 24,365 shares during the quarter. Pathstone Holdings LLC’s holdings in Baker Hughes were worth $4,768,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in BKR. National Pension Service grew its holdings in Baker Hughes by 6.4% during the third quarter. National Pension Service now owns 1,362,973 shares of the company’s stock valued at $49,271,000 after purchasing an additional 81,625 shares during the period. Hixon Zuercher LLC purchased a new position in shares of Baker Hughes during the 3rd quarter valued at $1,980,000. Wedge Capital Management L L P NC grew its stake in shares of Baker Hughes by 20.5% during the 2nd quarter. Wedge Capital Management L L P NC now owns 726,291 shares of the company’s stock worth $25,544,000 after acquiring an additional 123,689 shares during the period. AQR Capital Management LLC increased its holdings in Baker Hughes by 7.6% in the 2nd quarter. AQR Capital Management LLC now owns 6,424,915 shares of the company’s stock worth $223,523,000 after acquiring an additional 455,307 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Baker Hughes by 32.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock valued at $581,729,000 after acquiring an additional 4,207,973 shares during the period. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Trading Down 1.4 %

Shares of Baker Hughes stock opened at $44.25 on Friday. 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 1 year low of $28.32 and a 1 year high of $45.17. The firm has a market cap of $43.79 billion, a PE ratio of 19.84, a PEG ratio of 0.76 and a beta of 1.38. The company has a 50 day simple moving average of $38.54 and a two-hundred day simple moving average of $35.63.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $7.21 billion. During the same period in the previous year, the firm posted $0.42 EPS. The firm’s revenue was up 4.0% compared to the same quarter last year. Analysts expect that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently disclosed 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. The ex-dividend date was Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.90%. Baker Hughes’s dividend payout ratio is 37.67%.

Analyst Upgrades and Downgrades

BKR has been the subject of several recent research reports. Wells Fargo & Company upgraded shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $40.00 to $42.00 in a research note on Wednesday, September 25th. Evercore ISI boosted their target price on shares of Baker Hughes from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Jefferies Financial Group increased their target price on Baker Hughes from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. BMO Capital Markets lifted their price target on Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Finally, Stifel Nicolaus increased their price objective on Baker Hughes from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, Baker Hughes has a consensus rating of “Moderate Buy” and a consensus price target of $44.59.

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.