Wilmington Savings Fund Society FSB Takes Position in Baker Hughes (NASDAQ:BKR)

Wilmington Savings Fund Society FSB bought a new position in Baker Hughes (NASDAQ:BKR) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,856 shares of the company’s stock, valued at approximately $139,000.

Other hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp increased its position in shares of Baker Hughes by 16.0% in the second quarter. Fifth Third Bancorp now owns 36,302 shares of the company’s stock valued at $1,277,000 after acquiring an additional 4,997 shares during the period. Catalina Capital Group LLC bought a new stake in shares of Baker Hughes in the 2nd quarter worth approximately $218,000. Family Firm Inc. purchased a new position in shares of Baker Hughes during the second quarter valued at approximately $111,000. AMG National Trust Bank purchased a new stake in Baker Hughes in the second quarter worth $280,000. Finally, Atomi Financial Group Inc. lifted its stake in Baker Hughes by 25.6% in the second quarter. Atomi Financial Group Inc. now owns 15,476 shares of the company’s stock worth $544,000 after acquiring an additional 3,157 shares during the period. 92.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BKR has been the subject of several research analyst reports. Morgan Stanley raised their target price on shares of Baker Hughes from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. Barclays lifted their price objective on Baker Hughes from $46.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday. BMO Capital Markets increased their target price on Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Royal Bank of Canada lifted their price target on Baker Hughes from $43.00 to $49.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Finally, Bank of America increased their price objective on Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Baker Hughes presently has an average rating of “Moderate Buy” and a consensus target price of $47.00.

Baker Hughes Stock Down 0.6 %

Baker Hughes stock opened at $39.80 on Friday. The firm has a market cap of $39.38 billion, a price-to-earnings ratio of 17.85, a PEG ratio of 0.72 and a beta of 1.40. 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 $45.17. The stock has a fifty day simple moving average of $40.80 and a two-hundred day simple moving average of $36.90.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. The business had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.21 billion. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. Baker Hughes’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.42 EPS. Equities analysts predict that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes’s dividend payout ratio is currently 37.67%.

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.