CIBC Asset Management Inc Has $11.16 Million Holdings in Baker Hughes (NASDAQ:BKR)

CIBC Asset Management Inc raised its stake in Baker Hughes (NASDAQ:BKR) by 5.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 308,637 shares of the company’s stock after purchasing an additional 15,895 shares during the period. CIBC Asset Management Inc’s holdings in Baker Hughes were worth $11,157,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new stake in Baker Hughes in the 3rd quarter valued at $30,000. New Covenant Trust Company N.A. bought a new stake in Baker Hughes in the 1st quarter valued at $34,000. Alta Advisers Ltd bought a new stake in Baker Hughes in the 2nd quarter valued at $42,000. Headlands Technologies LLC bought a new stake in Baker Hughes in the 2nd quarter valued at $48,000. Finally, Quarry LP boosted its holdings in Baker Hughes by 81.1% in the 2nd quarter. Quarry LP now owns 1,594 shares of the company’s stock valued at $56,000 after purchasing an additional 714 shares during the period. 92.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BKR has been the subject of a number of research reports. UBS Group reduced their price target on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. Citigroup raised their price objective on shares of Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday. BMO Capital Markets raised their price objective on shares of Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Barclays raised their price objective on shares of Baker Hughes from $41.00 to $46.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, Jefferies Financial Group raised their price objective on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, July 29th. 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 data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $44.59.

Baker Hughes Trading Down 0.6 %

BKR opened at $42.94 on Friday. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $42.49 billion, a PE ratio of 19.26, a PEG ratio of 0.73 and a beta of 1.38. Baker Hughes has a 1-year low of $28.32 and a 1-year high of $44.49. The firm has a 50-day moving average price of $37.48 and a two-hundred day moving average price of $35.21.

Baker Hughes (NASDAQ:BKR) last issued its quarterly 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. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The company had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $7.21 billion. During the same quarter in the previous year, the company earned $0.42 EPS. Baker Hughes’s revenue was up 4.0% on a year-over-year basis. As a group, equities analysts anticipate that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.96%. 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.