Empirical Finance LLC Acquires 874 Shares of Baker Hughes (NASDAQ:BKR)

Empirical Finance LLC lifted its stake in Baker Hughes (NASDAQ:BKR) by 2.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 31,049 shares of the company’s stock after buying an additional 874 shares during the period. Empirical Finance LLC’s holdings in Baker Hughes were worth $1,122,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. CIBC Asset Management Inc grew its position in Baker Hughes by 5.4% in the 3rd quarter. CIBC Asset Management Inc now owns 308,637 shares of the company’s stock worth $11,157,000 after purchasing an additional 15,895 shares during the last quarter. ING Groep NV grew its position in Baker Hughes by 41.6% during the third quarter. ING Groep NV now owns 141,315 shares of the company’s stock worth $5,109,000 after buying an additional 41,519 shares in the last quarter. Metis Global Partners LLC increased its stake in Baker Hughes by 6.2% during the third quarter. Metis Global Partners LLC now owns 73,085 shares of the company’s stock valued at $2,642,000 after acquiring an additional 4,269 shares during the period. Huntington National Bank raised its holdings in Baker Hughes by 1,497.3% in the 3rd quarter. Huntington National Bank now owns 100,293 shares of the company’s stock valued at $3,626,000 after acquiring an additional 94,014 shares in the last quarter. Finally, ICICI Prudential Asset Management Co Ltd raised its holdings in Baker Hughes by 18.3% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 12,968 shares of the company’s stock valued at $469,000 after acquiring an additional 2,005 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on BKR shares. Evercore ISI boosted their price objective on Baker Hughes from $42.00 to $46.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. The Goldman Sachs Group lifted their target price on shares of Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Citigroup increased their price target on shares of Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday. TD Cowen lifted their price objective on Baker Hughes from $46.00 to $50.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, Barclays increased their target price on Baker Hughes from $41.00 to $46.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the company currently 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. Baker Hughes has a 1-year low of $28.32 and a 1-year high of $44.49. 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. 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 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The business had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.21 billion. During the same quarter last year, the business posted $0.42 earnings per share. Baker Hughes’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, equities analysts anticipate that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were given 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 1.96%. Baker Hughes’s payout ratio is currently 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.