Baker Hughes (NASDAQ:BKR) Stock Position Decreased by Bank of Montreal Can

Bank of Montreal Can cut its stake in shares of Baker Hughes (NASDAQ:BKR) by 4.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,468,953 shares of the company’s stock after selling 60,599 shares during the quarter. Bank of Montreal Can’s holdings in Baker Hughes were worth $53,147,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Harvest Fund Management Co. Ltd boosted its stake in shares of Baker Hughes by 61.5% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 48,770 shares of the company’s stock worth $1,763,000 after acquiring an additional 18,571 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of Baker Hughes by 13.7% during the 3rd quarter. Fisher Asset Management LLC now owns 836,156 shares of the company’s stock worth $30,227,000 after acquiring an additional 100,455 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Baker Hughes by 11.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 185,227 shares of the company’s stock worth $6,696,000 after acquiring an additional 19,278 shares in the last quarter. Swedbank AB boosted its stake in shares of Baker Hughes by 24.2% during 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 in the last quarter. Finally, Pitcairn Co. boosted its stake in shares of 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 in the last quarter. 92.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Stifel Nicolaus increased their target price on Baker Hughes from $45.00 to $48.00 and gave the company a “buy” rating in a report on Monday. Wells Fargo & Company upgraded Baker Hughes from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $40.00 to $42.00 in a report on Wednesday, September 25th. Barclays increased their target price on Baker Hughes from $41.00 to $46.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Susquehanna increased their target price on Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a report on Thursday, October 24th. Finally, Argus upgraded Baker Hughes from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Two investment 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, the company currently has an average rating of “Moderate Buy” and an average target price of $44.76.

Baker Hughes Price Performance

BKR opened at $43.61 on Thursday. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $45.17. The company has a fifty day simple moving average of $39.09 and a 200 day simple moving average of $35.86. The stock has a market cap of $43.15 billion, a P/E ratio of 19.56, a P/E/G ratio of 0.73 and a beta of 1.38.

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

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.93%. Baker Hughes’s dividend payout ratio is 37.67%.

About Baker Hughes

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.