Harvest Fund Management Co. Ltd Boosts Stock Holdings in Baker Hughes (NASDAQ:BKR)

Harvest Fund Management Co. Ltd raised its holdings in Baker Hughes (NASDAQ:BKR) by 61.5% during the third quarter, Holdings Channel.com reports. The firm owned 48,770 shares of the company’s stock after purchasing an additional 18,571 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Baker Hughes were worth $1,763,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. National Pension Service boosted its stake in shares of Baker Hughes by 6.4% in the third quarter. National Pension Service now owns 1,362,973 shares of the company’s stock valued at $49,271,000 after buying an additional 81,625 shares in the last quarter. Hixon Zuercher LLC acquired a new stake in Baker Hughes in the third quarter valued at $1,980,000. Wedge Capital Management L L P NC boosted its position 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 purchasing an additional 123,689 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Baker Hughes by 7.6% during the 2nd quarter. AQR Capital Management LLC now owns 6,424,915 shares of the company’s stock worth $223,523,000 after purchasing an additional 455,307 shares during the period. Finally, Banque Cantonale Vaudoise increased its holdings in shares of Baker Hughes by 76.1% in the 3rd quarter. Banque Cantonale Vaudoise now owns 122,661 shares of the company’s stock valued at $4,434,000 after purchasing an additional 53,006 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Evercore ISI upped their target price on shares of Baker Hughes from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. BMO Capital Markets upped their price target on Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Barclays lifted their price objective on Baker Hughes from $41.00 to $46.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. 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, November 14th. Finally, UBS Group decreased their price objective 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. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $44.76.

Baker Hughes Stock Down 1.6 %

BKR opened at $43.55 on Tuesday. The stock has a market capitalization of $43.09 billion, a price-to-earnings ratio of 19.53, a price-to-earnings-growth ratio of 0.75 and a beta of 1.38. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $45.17. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. The business has a 50-day moving average of $38.73 and a two-hundred day moving average of $35.73.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.61 by $0.06. The firm had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.21 billion. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. Baker Hughes’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.42 earnings per share. On average, research analysts expect that Baker Hughes will post 2.29 earnings per share for the current year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors 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 1.93%. The ex-dividend date was Monday, November 4th. Baker Hughes’s payout ratio is currently 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.