City Center Advisors LLC Acquires 3,994 Shares of Baker Hughes (NASDAQ:BKR)

City Center Advisors LLC raised its stake in shares of Baker Hughes (NASDAQ:BKR) by 53.3% during the 4th quarter, Holdings Channel reports. The fund owned 11,484 shares of the company’s stock after purchasing an additional 3,994 shares during the period. City Center Advisors LLC’s holdings in Baker Hughes were worth $471,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Ashton Thomas Securities LLC purchased a new stake in Baker Hughes during the third quarter valued at approximately $30,000. True Wealth Design LLC increased its position in shares of Baker Hughes by 2,181.6% during the third 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 lifted its holdings in shares of Baker Hughes by 1,045.1% during the 3rd quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock valued at $32,000 after purchasing an additional 811,711 shares during the last quarter. Continuum Advisory LLC boosted its position in shares of 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 purchased a new position in Baker Hughes during the 2nd quarter worth $48,000. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Baker Hughes Stock Down 0.4 %

Shares of BKR opened at $43.26 on Monday. 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 quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $42.81 billion, a price-to-earnings ratio of 19.40, a PEG ratio of 0.72 and a beta of 1.39. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $45.17.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.61 by $0.06. The business had revenue of $6.91 billion for 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%. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.42 EPS. On average, sell-side analysts predict that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders 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 yield of 1.94%. Baker Hughes’s payout ratio is 37.67%.

Wall Street Analysts Forecast Growth

BKR has been the subject of a number of research analyst reports. Argus upgraded Baker Hughes from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Morgan Stanley increased their price objective on shares of Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. Citigroup boosted their target price on shares of Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. BMO Capital Markets upped their price target on shares of Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Finally, Royal Bank of Canada lifted their price objective on shares of Baker Hughes from $43.00 to $49.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Three 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, Baker Hughes presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.18.

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.