Bridgewater Associates LP Boosts Holdings in Baker Hughes (NASDAQ:BKR)

Bridgewater Associates LP boosted its stake in Baker Hughes (NASDAQ:BKR) by 36.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,234,630 shares of the company’s stock after acquiring an additional 332,000 shares during the period. Bridgewater Associates LP owned about 0.12% of Baker Hughes worth $44,632,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new stake in shares of Baker Hughes in the third quarter valued at approximately $30,000. New Covenant Trust Company N.A. purchased a new stake in Baker Hughes in the 1st quarter valued at $34,000. Alta Advisers Ltd acquired a new stake in Baker Hughes during the 2nd quarter worth $42,000. Headlands Technologies LLC purchased a new position in Baker Hughes during the 2nd quarter worth $48,000. Finally, Quarry LP grew its holdings in shares of Baker Hughes by 81.1% during the second quarter. Quarry LP now owns 1,594 shares of the company’s stock worth $56,000 after buying an additional 714 shares during the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Stock Down 0.0 %

BKR opened at $43.53 on Wednesday. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $45.17. The business has a 50-day moving average of $38.91 and a two-hundred day moving average of $35.81. The stock has a market capitalization of $43.07 billion, a price-to-earnings ratio of 19.52, a price-to-earnings-growth ratio of 0.73 and a beta of 1.38. 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 posted its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. The firm had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.21 billion. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes’s dividend payout ratio is presently 37.67%.

Analyst Upgrades and Downgrades

BKR has been the topic of several recent research reports. Benchmark reissued a “buy” rating and issued a $42.00 price objective on shares of Baker Hughes in a research note on Thursday, October 24th. Citigroup lifted their price target on Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Stifel Nicolaus increased their price objective on Baker Hughes from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday. Wells Fargo & Company upgraded shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $40.00 to $42.00 in a research report on Wednesday, September 25th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $43.00 price target on shares of Baker Hughes in a report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $44.76.

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.