NBC Securities Inc. Purchases New Shares in Baker Hughes (NASDAQ:BKR)

NBC Securities Inc. acquired a new position in Baker Hughes (NASDAQ:BKR) during the third quarter, according to the company in its most recent filing with the SEC. The fund acquired 8,133 shares of the company’s stock, valued at approximately $294,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Redmont Wealth Advisors LLC acquired a new stake in shares of Baker Hughes during the first quarter worth approximately $27,000. New Covenant Trust Company N.A. acquired a new position in Baker Hughes during the 1st quarter worth $34,000. Alta Advisers Ltd bought a new stake in shares of Baker Hughes in the 2nd quarter worth about $42,000. Headlands Technologies LLC acquired a new stake in shares of Baker Hughes in the 2nd quarter valued at about $48,000. Finally, Quarry LP lifted its position in shares of Baker Hughes by 81.1% during the second quarter. Quarry LP now owns 1,594 shares of the company’s stock worth $56,000 after purchasing an additional 714 shares during the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $35.00, for a total value of $4,000,010.00. Following the completion of the sale, the chief executive officer now directly owns 502,053 shares in the company, valued at $17,571,855. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.25% of the company’s stock.

Baker Hughes Stock Down 1.3 %

Shares of Baker Hughes stock opened at $36.40 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 0.86. Baker Hughes has a 1-year low of $28.32 and a 1-year high of $39.05. The business’s fifty day moving average price is $35.52 and its two-hundred day moving average price is $34.29. The company has a market capitalization of $36.33 billion, a P/E ratio of 20.34, a PEG ratio of 0.61 and a beta of 1.38.

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

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Tuesday, August 6th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend was Tuesday, August 6th. Baker Hughes’s dividend payout ratio (DPR) is presently 46.93%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Susquehanna boosted their price objective on Baker Hughes from $40.00 to $46.00 and gave the company a “positive” rating in a report on Monday, July 29th. Bank of America dropped their price target on Baker Hughes from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. JPMorgan Chase & Co. lifted their price objective on shares of Baker Hughes from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Wells Fargo & Company raised shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $40.00 to $42.00 in a report on Wednesday, September 25th. Finally, The Goldman Sachs Group lifted their price target on shares of Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, July 29th. Two research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $43.59.

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.