Baker Hughes (NASDAQ:BKR) Stock Position Raised by Stifel Financial Corp

Stifel Financial Corp lifted its stake in Baker Hughes (NASDAQ:BKR) by 9.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,382,912 shares of the company’s stock after acquiring an additional 124,153 shares during the period. Stifel Financial Corp owned 0.14% of Baker Hughes worth $49,993,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Bridges Investment Management Inc. boosted its stake in Baker Hughes by 3.1% in the 3rd quarter. Bridges Investment Management Inc. now owns 9,203 shares of the company’s stock valued at $333,000 after buying an additional 273 shares in the last quarter. UMB Bank n.a. increased its holdings 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 purchasing an additional 291 shares during the last quarter. Graypoint LLC increased its holdings 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 purchasing an additional 301 shares during the last quarter. First Trust Direct Indexing L.P. grew its stake in 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 acquiring an additional 398 shares during the period. Finally, Hantz Financial Services Inc. boosted its position in shares of Baker Hughes by 4.6% during the third quarter. Hantz Financial Services Inc. now owns 9,027 shares of the company’s stock worth $326,000 after buying an additional 401 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Stock Performance

Shares of BKR opened at $41.31 on Friday. The company has a market cap of $40.88 billion, a PE ratio of 18.52, a P/E/G ratio of 0.74 and a beta of 1.40. 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 has a one year low of $28.32 and a one year high of $45.17. The stock has a 50-day moving average of $39.97 and a 200-day moving average of $36.28.

Baker Hughes (NASDAQ:BKR) last released 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. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The business 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 business earned $0.42 EPS. The company’s quarterly revenue was up 4.0% on a year-over-year basis. On average, equities research analysts predict that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were issued a $0.21 dividend. The ex-dividend date was Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.03%. Baker Hughes’s dividend payout ratio (DPR) is presently 37.67%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Citigroup upped their target price on Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Benchmark reiterated a “buy” rating and set a $42.00 target price on shares of Baker Hughes in a research note on Thursday, October 24th. Wells Fargo & Company raised Baker Hughes from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $40.00 to $42.00 in a research report on Wednesday, September 25th. Morgan Stanley raised their target price on Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. Finally, Stifel Nicolaus raised their price objective on Baker Hughes from $45.00 to $48.00 and gave the company a “buy” rating in a report on Monday, November 25th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.