Quantbot Technologies LP lifted its holdings in shares of Baker Hughes (NASDAQ:BKR – Get Rating) by 1,374.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 187,496 shares of the company’s stock after buying an additional 174,781 shares during the quarter. Quantbot Technologies LP’s holdings in Baker Hughes were worth $3,929,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Orion Portfolio Solutions LLC raised its position in shares of Baker Hughes by 5.8% during the 2nd quarter. Orion Portfolio Solutions LLC now owns 7,159 shares of the company’s stock valued at $207,000 after buying an additional 390 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Baker Hughes by 7.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 6,200 shares of the company’s stock valued at $179,000 after purchasing an additional 443 shares during the last quarter. Kornitzer Capital Management Inc. KS grew its holdings in shares of Baker Hughes by 0.4% during the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 105,495 shares of the company’s stock valued at $3,046,000 after purchasing an additional 447 shares during the last quarter. Sawtooth Solutions LLC grew its holdings in shares of Baker Hughes by 5.1% during the 2nd quarter. Sawtooth Solutions LLC now owns 9,296 shares of the company’s stock valued at $268,000 after purchasing an additional 455 shares during the last quarter. Finally, Ieq Capital LLC grew its holdings in shares of Baker Hughes by 4.1% during the 2nd quarter. Ieq Capital LLC now owns 11,760 shares of the company’s stock valued at $340,000 after purchasing an additional 458 shares during the last quarter. 97.40% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Baker Hughes news, EVP Maria C. Borras sold 9,811 shares of Baker Hughes stock in a transaction dated Wednesday, November 30th. The shares were sold at an average price of $29.02, for a total value of $284,715.22. Following the completion of the transaction, the executive vice president now directly owns 74,474 shares of the company’s stock, valued at $2,161,235.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Baker Hughes news, EVP Maria C. Borras sold 9,811 shares of Baker Hughes stock in a transaction dated Wednesday, November 30th. The shares were sold at an average price of $29.02, for a total value of $284,715.22. Following the completion of the transaction, the executive vice president now directly owns 74,474 shares of the company’s stock, valued at $2,161,235.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Neil Saunders sold 118,492 shares of Baker Hughes stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $30.64, for a total transaction of $3,630,594.88. Following the completion of the transaction, the executive vice president now directly owns 54,417 shares of the company’s stock, valued at $1,667,336.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 285,303 shares of company stock valued at $8,816,980. Insiders own 0.29% of the company’s stock.
Analyst Upgrades and Downgrades
BKR has been the topic of several recent research reports. Wells Fargo & Company lowered shares of Baker Hughes from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $32.00 to $29.00 in a report on Wednesday, October 26th. They noted that the move was a valuation call. Benchmark assumed coverage on shares of Baker Hughes in a report on Thursday, January 19th. They issued a “buy” rating and a $36.00 price target on the stock. Bank of America raised their price target on shares of Baker Hughes from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, October 20th. ATB Capital cut their price target on shares of Baker Hughes to $37.00 in a report on Thursday, October 20th. Finally, Morgan Stanley raised their price target on shares of Baker Hughes from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Wednesday, January 4th. One equities research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $35.86.
Baker Hughes Stock Up 0.4 %
NASDAQ BKR traded up $0.12 during trading hours on Thursday, reaching $31.12. 1,689,163 shares of the company’s stock traded hands, compared to its average volume of 6,384,431. Baker Hughes has a 52-week low of $20.42 and a 52-week high of $39.78. The firm has a market cap of $31.38 billion, a PE ratio of -51.17, a PEG ratio of 0.43 and a beta of 1.48. The firm has a 50-day simple moving average of $29.38 and a 200 day simple moving average of $26.78. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.32 and a quick ratio of 1.08.
Baker Hughes (NASDAQ:BKR – Get Rating) last issued its earnings results on Monday, January 23rd. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.02). The firm had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $6.07 billion. Baker Hughes had a positive return on equity of 5.98% and a negative net margin of 2.85%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the firm posted $0.25 earnings per share. Sell-side analysts anticipate that Baker Hughes will post 1.62 EPS for the current fiscal year.
Baker Hughes Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, February 17th. Shareholders of record on Monday, February 6th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 2.44%. Baker Hughes’s dividend payout ratio (DPR) is presently -126.67%.
Baker Hughes Company Profile
Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. It operates through two segments: Oilfield Services & Equipment and Industrial & Energy Technology. The company offers exploration, drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, wireline services, downhole completion tools and systems, wellbore intervention tools and services, pressure pumping systems, oilfield and industrial chemicals, and artificial lift technologies for oil and natural gas, and oilfield service companies.