AMG National Trust Bank Increases Stake in Baker Hughes (NASDAQ:BKR)

AMG National Trust Bank raised its stake in shares of Baker Hughes (NASDAQ:BKR) by 18.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,438 shares of the company’s stock after purchasing an additional 1,487 shares during the period. AMG National Trust Bank’s holdings in Baker Hughes were worth $341,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new stake in shares of Baker Hughes during the 3rd quarter worth $30,000. New Covenant Trust Company N.A. purchased a new stake in Baker Hughes during the first quarter valued at about $34,000. Alta Advisers Ltd acquired a new stake in Baker Hughes during the second quarter worth about $42,000. Headlands Technologies LLC purchased a new position in shares of Baker Hughes in the 2nd quarter worth about $48,000. Finally, Quarry LP lifted its stake in shares of Baker Hughes by 81.1% in the 2nd quarter. Quarry LP now owns 1,594 shares of the company’s stock valued at $56,000 after purchasing an additional 714 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Down 0.5 %

Shares of NASDAQ:BKR opened at $42.87 on Wednesday. The firm has a market cap of $42.42 billion, a PE ratio of 19.22, a price-to-earnings-growth ratio of 0.72 and a beta of 1.38. The company has a fifty day simple moving average of $37.86 and a 200 day simple moving average of $35.39. The company has a current ratio of 1.30, a quick ratio of 0.88 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 $44.49.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share 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 company had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.21 billion. During the same quarter in the previous year, the firm earned $0.42 EPS. The company’s revenue was up 4.0% on a year-over-year basis. On average, equities research analysts anticipate that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were issued a dividend of $0.21 per share. 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 dividend payout ratio is presently 37.67%.

Analysts Set New Price Targets

A number of research firms recently issued reports on BKR. Wells Fargo & Company raised shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $40.00 to $42.00 in a research report on Wednesday, September 25th. Benchmark reissued a “buy” rating and issued a $42.00 target price on shares of Baker Hughes in a research note on Thursday, October 24th. Stifel Nicolaus upped their price target 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. BMO Capital Markets raised their price objective on Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. upped their target price on Baker Hughes from $42.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, Baker Hughes currently has an average rating of “Moderate Buy” and an average target price of $44.59.

Baker Hughes Company 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.