Catalina Capital Group LLC Buys 598 Shares of Baker Hughes (NASDAQ:BKR)

Catalina Capital Group LLC increased its stake in Baker Hughes (NASDAQ:BKR) by 9.7% during the 3rd quarter, Holdings Channel reports. The firm owned 6,791 shares of the company’s stock after purchasing an additional 598 shares during the quarter. Catalina Capital Group LLC’s holdings in Baker Hughes were worth $245,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of BKR. Twin Tree Management LP boosted its stake in shares of Baker Hughes by 183.0% during the first quarter. Twin Tree Management LP now owns 338,738 shares of the company’s stock valued at $11,348,000 after purchasing an additional 219,060 shares during the period. National Pension Service boosted its stake in shares of 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. Wedge Capital Management L L P NC boosted its stake in shares of Baker Hughes by 20.5% during the second quarter. Wedge Capital Management L L P NC now owns 726,291 shares of the company’s stock valued at $25,544,000 after purchasing an additional 123,689 shares during the period. National Bank of Canada FI boosted its stake in shares of Baker Hughes by 4.7% during the first quarter. National Bank of Canada FI now owns 869,786 shares of the company’s stock valued at $28,129,000 after purchasing an additional 39,031 shares during the period. Finally, Hixon Zuercher LLC purchased a new stake in shares of Baker Hughes during the third quarter valued at approximately $1,980,000. 92.06% of the stock is currently owned by institutional investors.

Baker Hughes Stock Performance

Shares of Baker Hughes stock opened at $42.74 on Thursday. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $43.23. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The business has a fifty day simple moving average of $36.26 and a two-hundred day simple moving average of $34.70. The firm has a market capitalization of $42.29 billion, a P/E ratio of 19.17, a P/E/G ratio of 0.64 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share 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 firm had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.21 billion. During the same period last year, the company earned $0.42 earnings per share. The company’s revenue was up 4.0% on a year-over-year basis. On average, equities analysts forecast that Baker Hughes will post 2.28 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 4th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $0.84 annualized dividend and a dividend yield of 1.97%. Baker Hughes’s payout ratio is presently 37.67%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BKR. Susquehanna increased their price objective on Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a research note on Thursday, October 24th. Bank of America dropped their price target on Baker Hughes from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Jefferies Financial Group raised their price target on Baker Hughes from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. BMO Capital Markets raised their price target on Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Finally, Stifel Nicolaus raised their price target on Baker Hughes from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $44.12.

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.