Baker Hughes (NASDAQ:BKR) Shares Purchased by Empowered Funds LLC

Empowered Funds LLC raised its position in shares of Baker Hughes (NASDAQ:BKR) by 1,586.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 265,828 shares of the company’s stock after acquiring an additional 250,067 shares during the period. Empowered Funds LLC’s holdings in Baker Hughes were worth $9,610,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of 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 valued at $581,729,000 after acquiring an additional 4,207,973 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Baker Hughes by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock worth $348,074,000 after buying an additional 680,621 shares during the period. Legal & General Group Plc grew its stake in shares of Baker Hughes by 8.6% in the second quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock valued at $306,801,000 after buying an additional 692,859 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Baker Hughes by 3.1% during the 2nd quarter. American Century Companies Inc. now owns 8,274,250 shares of the company’s stock valued at $291,005,000 after buying an additional 248,122 shares during the period. Finally, Clearbridge Investments LLC boosted its stake in shares of Baker Hughes by 10.2% in the first quarter. Clearbridge Investments LLC now owns 6,609,115 shares of the company’s stock valued at $221,405,000 after purchasing an additional 612,715 shares during the period. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on BKR shares. Wells Fargo & Company upgraded Baker Hughes from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $40.00 to $42.00 in a report on Wednesday, September 25th. Citigroup upped their target price on Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a report on Thursday. Evercore ISI raised their price target on Baker Hughes from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Barclays upped their price objective on Baker Hughes from $41.00 to $46.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, Jefferies Financial Group raised their target price on Baker Hughes from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $44.59.

Baker Hughes Price Performance

NASDAQ BKR opened at $42.94 on Friday. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $44.49. The firm has a market capitalization of $42.49 billion, a PE ratio of 19.26, a P/E/G ratio of 0.73 and a beta of 1.38. The company’s 50 day simple moving average is $37.48 and its 200 day simple moving average is $35.19. 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 (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 the consensus estimate of $0.61 by $0.06. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The company had revenue of $6.91 billion for the quarter, compared to analysts’ expectations of $7.21 billion. During the same period last year, the firm earned $0.42 EPS. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, equities research analysts forecast that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were issued a $0.21 dividend. 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%.

About Baker Hughes

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.