Magnus Financial Group LLC Buys Shares of 5,559 Baker Hughes (NASDAQ:BKR)

Magnus Financial Group LLC bought a new stake in shares of Baker Hughes (NASDAQ:BKR) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 5,559 shares of the company’s stock, valued at approximately $201,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its holdings in shares of Baker Hughes by 32.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock worth $581,729,000 after purchasing an additional 4,207,973 shares during the period. Cardano Risk Management B.V. bought a new position in shares of Baker Hughes in the first quarter worth $117,083,000. Legal & General Group Plc increased its holdings in shares of Baker Hughes by 8.6% in the second quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock worth $306,801,000 after purchasing an additional 692,859 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Baker Hughes by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock worth $348,074,000 after purchasing an additional 680,621 shares during the period. Finally, Clearbridge Investments LLC increased its holdings 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 worth $221,405,000 after purchasing an additional 612,715 shares during the period. Institutional investors own 92.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on BKR shares. Royal Bank of Canada upped their target price on shares of Baker Hughes from $39.00 to $43.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Evercore ISI upped their target price on shares of Baker Hughes from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Stifel Nicolaus upped their target price on shares of Baker Hughes from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. UBS Group cut their target price on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Finally, Wells Fargo & Company upgraded shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $40.00 to $42.00 in a research report on Wednesday, September 25th. Two research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Baker Hughes currently has a consensus rating of “Moderate Buy” and an average price target of $43.59.

Baker Hughes Stock Performance

Shares of NASDAQ:BKR opened at $36.74 on Thursday. The company has a market cap of $36.67 billion, a price-to-earnings ratio of 20.53, a price-to-earnings-growth ratio of 0.61 and a beta of 1.38. The company has a 50-day moving average price of $35.46 and a 200-day moving average price of $34.25. The company has a current ratio of 1.27, a quick ratio of 0.86 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 $39.05.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.49 by $0.08. The firm had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $6.81 billion. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.39 earnings per share. As a group, equities analysts anticipate that Baker Hughes will post 2.25 EPS for the current year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Tuesday, August 6th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend was Tuesday, August 6th. Baker Hughes’s dividend payout ratio (DPR) is 46.93%.

Insider Activity

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of Baker Hughes stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $35.00, for a total transaction of $4,000,010.00. Following the sale, the chief executive officer now directly owns 502,053 shares of the company’s stock, valued at approximately $17,571,855. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.25% of the company’s stock.

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.