Asset Allocation & Management Company LLC Purchases New Shares in Baker Hughes (NASDAQ:BKR)

Asset Allocation & Management Company LLC purchased a new stake in Baker Hughes (NASDAQ:BKR) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 6,045 shares of the company’s stock, valued at approximately $248,000.

Other large investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new stake in shares of Baker Hughes during the 3rd quarter valued at $30,000. True Wealth Design LLC boosted its stake in Baker Hughes by 2,181.6% in 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 in the last quarter. Groupama Asset Managment boosted its stake in Baker Hughes by 1,045.1% in the 3rd quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock worth $32,000 after purchasing an additional 811,711 shares in the last quarter. Continuum Advisory LLC boosted its stake in Baker Hughes by 442.2% in the 3rd quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock worth $35,000 after purchasing an additional 796 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in Baker Hughes in the 2nd quarter worth about $48,000. Institutional investors own 92.06% of the company’s stock.

Analyst Ratings Changes

BKR has been the topic of a number of analyst reports. Citigroup upped their price target 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. Wells Fargo & Company boosted their target price on Baker Hughes from $42.00 to $49.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Royal Bank of Canada boosted their target price on Baker Hughes from $43.00 to $49.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Morgan Stanley boosted their target price on Baker Hughes from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. Finally, Bank of America boosted their target price on Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Three 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.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $47.18.

Baker Hughes Price Performance

Shares of BKR stock traded up $1.27 during mid-day trading on Monday, hitting $44.53. The company had a trading volume of 1,842,959 shares, compared to its average volume of 5,309,659. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $45.17. The stock’s 50 day moving average price is $42.28 and its 200-day moving average price is $38.00. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. The company has a market capitalization of $44.06 billion, a P/E ratio of 19.97, a P/E/G ratio of 0.72 and a beta of 1.39.

Baker Hughes (NASDAQ:BKR) last released 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 net margin of 8.20% and a return on equity of 13.77%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 earnings per share. Equities research analysts forecast that Baker Hughes will post 2.29 earnings per share for the current year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors 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 yield of 1.89%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes’s 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.