Baker Hughes (NASDAQ:BKR) Shares Purchased by ICICI Prudential Asset Management Co Ltd

ICICI Prudential Asset Management Co Ltd boosted its position in shares of Baker Hughes (NASDAQ:BKR) by 18.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,968 shares of the company’s stock after buying an additional 2,005 shares during the quarter. ICICI Prudential Asset Management Co Ltd’s holdings in Baker Hughes were worth $469,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BKR. Price T Rowe Associates Inc. MD grew its position in shares of Baker Hughes by 32.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock valued at $581,729,000 after acquiring an additional 4,207,973 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in Baker Hughes by 63.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 2,001,870 shares of the company’s stock worth $72,368,000 after purchasing an additional 780,417 shares in the last quarter. Legal & General Group Plc grew its holdings in Baker Hughes by 8.6% in the second quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock valued at $306,801,000 after purchasing an additional 692,859 shares during the period. Dimensional Fund Advisors LP grew its holdings in Baker Hughes by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock valued at $348,074,000 after purchasing an additional 680,621 shares during the period. Finally, Clearbridge Investments LLC increased its position in shares of Baker Hughes by 10.2% in the first quarter. Clearbridge Investments LLC now owns 6,609,115 shares of the company’s stock valued at $221,405,000 after buying an additional 612,715 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on BKR shares. Morgan Stanley increased their target price on Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. Barclays raised their price target on shares of Baker Hughes from $41.00 to $46.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. The Goldman Sachs Group lifted their price objective on Baker Hughes from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, July 29th. TD Cowen increased their target price on Baker Hughes from $46.00 to $50.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, Susquehanna increased their price objective on Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a research note on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, Baker Hughes presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.12.

Baker Hughes Stock Down 1.4 %

Shares of NASDAQ:BKR opened at $43.07 on Thursday. The company has a market capitalization of $42.62 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 0.74 and a beta of 1.38. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $44.49. The business has a 50-day moving average price of $36.94 and a 200 day moving average price of $35.01. 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 quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The business had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $7.21 billion. During the same period last year, the business earned $0.42 earnings per share. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. Sell-side analysts expect that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is 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.