10,666 Shares in Baker Hughes (NASDAQ:BKR) Purchased by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. acquired a new stake in Baker Hughes (NASDAQ:BKR) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 10,666 shares of the company’s stock, valued at approximately $386,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BKR. Bridges Investment Management Inc. increased its holdings in shares of Baker Hughes by 3.1% in the 3rd quarter. Bridges Investment Management Inc. now owns 9,203 shares of the company’s stock valued at $333,000 after purchasing an additional 273 shares in the last quarter. UMB Bank n.a. increased its holdings in Baker Hughes by 18.4% in the second quarter. UMB Bank n.a. now owns 1,873 shares of the company’s stock valued at $66,000 after buying an additional 291 shares in the last quarter. Graypoint LLC increased its holdings in Baker Hughes by 3.0% in the third quarter. Graypoint LLC now owns 10,288 shares of the company’s stock valued at $372,000 after buying an additional 301 shares in the last quarter. First Trust Direct Indexing L.P. lifted its position in shares of Baker Hughes by 1.4% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 29,841 shares of the company’s stock valued at $1,079,000 after acquiring an additional 398 shares during the period. Finally, Hantz Financial Services Inc. grew its holdings in shares of Baker Hughes by 4.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 9,027 shares of the company’s stock worth $326,000 after acquiring an additional 401 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

Analyst Ratings Changes

BKR has been the topic of a number of research analyst reports. Benchmark reiterated a “buy” rating and set a $42.00 target price on shares of Baker Hughes in a research report on Thursday, October 24th. Barclays increased 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $43.00 price target on shares of Baker Hughes in a report on Thursday, October 24th. UBS Group lowered their price target on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. Finally, Citigroup upped their target price on Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, Baker Hughes currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.76.

Baker Hughes Price Performance

BKR opened at $43.69 on Tuesday. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $45.17. 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 company’s 50 day simple moving average is $39.39 and its 200 day simple moving average is $36.04. The stock has a market capitalization of $43.23 billion, a PE ratio of 19.59, a P/E/G ratio of 0.74 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data 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 company had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $7.21 billion. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.42 EPS. As a group, sell-side analysts expect that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.84 annualized dividend and a yield of 1.92%. Baker Hughes’s dividend payout ratio is presently 37.67%.

Baker Hughes 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.