Wahed Invest LLC Buys 1,598 Shares of Baker Hughes (NASDAQ:BKR)

Wahed Invest LLC grew its holdings in Baker Hughes (NASDAQ:BKR) by 7.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 24,236 shares of the company’s stock after acquiring an additional 1,598 shares during the period. Wahed Invest LLC’s holdings in Baker Hughes were worth $876,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Ashton Thomas Securities LLC acquired a new stake in Baker Hughes during the 3rd quarter worth approximately $30,000. True Wealth Design LLC lifted its holdings in Baker Hughes by 2,181.6% during the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company’s stock worth $31,000 after purchasing an additional 829 shares during the last quarter. Alta Advisers Ltd acquired a new stake in Baker Hughes during the 2nd quarter worth approximately $42,000. Headlands Technologies LLC acquired a new stake in Baker Hughes during the 2nd quarter worth approximately $48,000. Finally, Quarry LP lifted its holdings in Baker Hughes by 81.1% during the 2nd quarter. Quarry LP now owns 1,594 shares of the company’s stock worth $56,000 after purchasing an additional 714 shares during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on BKR shares. UBS Group dropped their price target on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. Wells Fargo & Company raised Baker Hughes from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $40.00 to $42.00 in a report on Wednesday, September 25th. Argus raised Baker Hughes from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Benchmark reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Baker Hughes in a report on Thursday, October 24th. Finally, Stifel Nicolaus lifted 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 investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.76.

Baker Hughes Stock Down 0.1 %

Shares of BKR opened at $42.51 on Friday. The company has a market capitalization of $42.06 billion, a PE ratio of 19.06, a PEG ratio of 0.74 and a beta of 1.40. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $45.17. The stock’s 50-day moving average price is $39.97 and its two-hundred day moving average price is $36.28. 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 (NASDAQ:BKR) last announced its 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 for 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 business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.42 EPS. On average, analysts anticipate that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes’s dividend payout ratio is 37.67%.

Baker Hughes 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.