Baker Hughes (NASDAQ:BKR) Shares Sold by Qsemble Capital Management LP

Qsemble Capital Management LP lowered its stake in shares of Baker Hughes (NASDAQ:BKR) by 40.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,751 shares of the company’s stock after selling 12,178 shares during the quarter. Qsemble Capital Management LP’s holdings in Baker Hughes were worth $642,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of BKR. Harvest Fund Management Co. Ltd increased its stake in Baker Hughes by 61.5% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 48,770 shares of the company’s stock valued at $1,763,000 after purchasing an additional 18,571 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Baker Hughes by 13.7% during the third quarter. Fisher Asset Management LLC now owns 836,156 shares of the company’s stock valued at $30,227,000 after buying an additional 100,455 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of Baker Hughes by 11.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 185,227 shares of the company’s stock valued at $6,696,000 after acquiring an additional 19,278 shares during the period. Swedbank AB raised its stake in Baker Hughes by 24.2% in the 3rd quarter. Swedbank AB now owns 656,571 shares of the company’s stock worth $23,735,000 after acquiring an additional 128,031 shares during the last quarter. Finally, Pitcairn Co. lifted its position in Baker Hughes by 30.2% during the 3rd quarter. Pitcairn Co. now owns 12,083 shares of the company’s stock worth $437,000 after acquiring an additional 2,805 shares during the period. 92.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BKR. Barclays increased their price objective on Baker Hughes from $41.00 to $46.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Argus upgraded shares of Baker Hughes from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Wells Fargo & Company upgraded shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $40.00 to $42.00 in a research note on Wednesday, September 25th. Morgan Stanley increased their price objective on shares of Baker Hughes from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, October 3rd. Finally, Stifel Nicolaus raised their target price on shares of Baker Hughes from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Monday. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $44.76.

Baker Hughes Stock Down 0.0 %

Shares of NASDAQ BKR opened at $43.53 on Wednesday. The company has a market capitalization of $43.07 billion, a P/E ratio of 19.52, a P/E/G ratio of 0.75 and a beta of 1.38. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. The company has a 50 day simple moving average of $38.91 and a 200-day simple moving average of $35.81. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $45.17.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.06. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The company had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $7.21 billion. During the same quarter last year, the firm earned $0.42 earnings per share. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, equities research analysts predict that Baker Hughes will post 2.29 earnings per share for the current year.

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a yield of 1.93%. Baker Hughes’s payout ratio is currently 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.