MetLife Investment Management LLC Sells 7,801 Shares of Baker Hughes (NASDAQ:BKR)

MetLife Investment Management LLC lowered its stake in shares of Baker Hughes (NASDAQ:BKR) by 2.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 258,394 shares of the company’s stock after selling 7,801 shares during the quarter. MetLife Investment Management LLC’s holdings in Baker Hughes were worth $9,341,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in shares of Baker Hughes in the third quarter worth $30,000. Alta Advisers Ltd acquired a new stake in Baker Hughes in the 2nd quarter worth $42,000. Headlands Technologies LLC bought a new position in shares of Baker Hughes during the 2nd quarter worth about $48,000. Quarry LP increased its holdings in shares of Baker Hughes by 81.1% during the 2nd quarter. Quarry LP now owns 1,594 shares of the company’s stock worth $56,000 after purchasing an additional 714 shares during the period. Finally, UMB Bank n.a. raised its position in shares of Baker Hughes by 18.4% during the second quarter. UMB Bank n.a. now owns 1,873 shares of the company’s stock valued at $66,000 after buying an additional 291 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on BKR shares. Stifel Nicolaus lifted their price objective on Baker Hughes from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Monday. BMO Capital Markets lifted their price target on shares of Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Argus raised shares of Baker Hughes from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Susquehanna raised their price objective on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a “positive” rating in a report on Thursday, October 24th. Finally, Benchmark reissued a “buy” rating and issued a $42.00 target price on shares of Baker Hughes in a research note on Thursday, October 24th. 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 company has a consensus rating of “Moderate Buy” and an average target price of $44.76.

Baker Hughes Stock Performance

NASDAQ BKR opened at $43.61 on Friday. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $45.17. The stock has a market cap of $43.15 billion, a PE ratio of 19.56, a PEG ratio of 0.73 and a beta of 1.38. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30. The firm’s fifty day moving average price is $39.23 and its two-hundred day moving average price is $35.92.

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

Baker Hughes Dividend Announcement

The company also recently disclosed 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. This represents a $0.84 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is presently 37.67%.

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.