Adams Natural Resources Fund Inc. Increases Position in Baker Hughes (NASDAQ:BKR)

Adams Natural Resources Fund Inc. raised its position in Baker Hughes (NASDAQ:BKR) by 34.5% during the third quarter, HoldingsChannel reports. The firm owned 398,800 shares of the company’s stock after buying an additional 102,400 shares during the quarter. Baker Hughes accounts for 2.1% of Adams Natural Resources Fund Inc.’s holdings, making the stock its 13th biggest position. Adams Natural Resources Fund Inc.’s holdings in Baker Hughes were worth $14,417,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Twin Tree Management LP grew its position in shares of Baker Hughes by 183.0% in the 1st quarter. Twin Tree Management LP now owns 338,738 shares of the company’s stock valued at $11,348,000 after buying an additional 219,060 shares during the last quarter. Wedge Capital Management L L P NC grew its position in shares of Baker Hughes by 20.5% in the 2nd quarter. Wedge Capital Management L L P NC now owns 726,291 shares of the company’s stock valued at $25,544,000 after buying an additional 123,689 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its position in shares of Baker Hughes by 134.7% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 238,857 shares of the company’s stock valued at $8,002,000 after buying an additional 137,099 shares during the last quarter. Wakefield Asset Management LLLP grew its position in shares of Baker Hughes by 132.1% in the 1st quarter. Wakefield Asset Management LLLP now owns 118,484 shares of the company’s stock valued at $3,969,000 after buying an additional 67,440 shares during the last quarter. Finally, National Bank of Canada FI grew its position in shares of Baker Hughes by 4.7% in the 1st quarter. National Bank of Canada FI now owns 869,786 shares of the company’s stock valued at $28,129,000 after buying an additional 39,031 shares during the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $35.00, for a total value of $4,000,010.00. Following the sale, the chief executive officer now owns 502,053 shares of the company’s stock, valued at $17,571,855. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on BKR shares. Stifel Nicolaus raised their price objective on shares of Baker Hughes from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Benchmark reissued a “buy” rating and set a $42.00 price objective on shares of Baker Hughes in a research report on Thursday, October 24th. Argus raised shares of Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Citigroup lowered their price objective on shares of Baker Hughes from $44.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, September 27th. Finally, Bank of America lowered their price objective on shares of Baker Hughes from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.12.

Baker Hughes Stock Down 0.8 %

BKR stock opened at $37.09 on Wednesday. The company has a market cap of $37.02 billion, a P/E ratio of 20.72, a P/E/G ratio of 0.61 and a beta of 1.38. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $39.05. The company’s 50-day moving average price is $35.80 and its 200 day moving average price is $34.44. The company has a current ratio of 1.27, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. The firm had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.21 billion. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The firm’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.42 earnings per share. On average, research analysts expect that Baker Hughes will post 2.25 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 4th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend is Monday, November 4th. Baker Hughes’s dividend payout ratio is currently 46.93%.

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.