Point72 Hong Kong Ltd Buys New Shares in Baker Hughes (NASDAQ:BKR)

Point72 Hong Kong Ltd purchased a new stake in shares of Baker Hughes (NASDAQ:BKR) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,494 shares of the company’s stock, valued at approximately $416,000.

A number of other hedge funds have also recently bought and sold shares of BKR. Bridges Investment Management Inc. increased its stake in shares of Baker Hughes by 3.1% during the 3rd quarter. Bridges Investment Management Inc. now owns 9,203 shares of the company’s stock worth $333,000 after purchasing an additional 273 shares during the last quarter. UMB Bank n.a. raised its stake 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 during the period. Graypoint LLC raised its stake 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 during the period. First Trust Direct Indexing L.P. lifted its position in shares of Baker Hughes by 1.4% in the third quarter. First Trust Direct Indexing L.P. now owns 29,841 shares of the company’s stock valued at $1,079,000 after buying an additional 398 shares during the last quarter. Finally, Hantz Financial Services Inc. increased its holdings in shares of Baker Hughes by 4.6% during 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 last quarter. 92.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on BKR shares. Benchmark reaffirmed a “buy” rating and set a $42.00 price target on shares of Baker Hughes in a report on Thursday, October 24th. Citigroup raised their target price on shares of Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Royal Bank of Canada reiterated an “outperform” rating and issued a $43.00 price target on shares of Baker Hughes in a research note on Thursday, October 24th. BMO Capital Markets raised their price objective on shares of Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Finally, Susquehanna upped their target price on Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a research report on Thursday, October 24th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $44.76.

Baker Hughes Trading Down 0.6 %

Shares of Baker Hughes stock opened at $43.69 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $45.17. The company has a market capitalization of $43.23 billion, a price-to-earnings ratio of 19.59, a PEG ratio of 0.74 and a beta of 1.38. The firm’s 50-day moving average price is $39.39 and its two-hundred day moving average price is $36.04.

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

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.92%. Baker Hughes’s dividend payout ratio (DPR) 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.