B. Metzler seel. Sohn & Co. Holding AG Makes New $27.91 Million Investment in Baker Hughes (NASDAQ:BKR)

by · The Markets Daily

B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Baker Hughes (NASDAQ:BKR – Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 772,163 shares of the company’s stock, valued at approximately $27,914,000. B. Metzler seel. Sohn & Co. Holding AG owned 0.08% of Baker Hughes as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in shares of Baker Hughes during the 3rd quarter worth $30,000. New Covenant Trust Company N.A. purchased a new position in shares of Baker Hughes during the 1st quarter worth $34,000. Alta Advisers Ltd purchased a new position in shares of Baker Hughes during the 2nd quarter worth $42,000. Headlands Technologies LLC purchased a new stake in Baker Hughes in the 2nd quarter valued at about $48,000. Finally, Quarry LP raised its holdings in Baker Hughes by 81.1% in the 2nd quarter. Quarry LP now owns 1,594 shares of the company’s stock valued at $56,000 after buying an additional 714 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Barclays boosted their price objective on shares of Baker Hughes from $41.00 to $46.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Wells Fargo & Company upgraded shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $40.00 to $42.00 in a report on Wednesday, September 25th. Susquehanna boosted their price objective on shares of Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a report on Thursday, October 24th. TD Cowen boosted their price objective on shares of Baker Hughes from $46.00 to $50.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, Morgan Stanley boosted their price objective on shares of Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.59.

Check Out Our Latest Report on BKR

Baker Hughes Stock Performance

Shares of Baker Hughes stock opened at $43.07 on Tuesday. Baker Hughes has a one year low of $28.32 and a one year high of $44.49. The company has a market cap of $42.62 billion, a PE ratio of 19.31, a P/E/G ratio of 0.72 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 business has a 50-day simple moving average of $37.67 and a 200-day simple moving average of $35.31.

Baker Hughes (NASDAQ:BKR – Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The business had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.21 billion. During the same period in the previous year, the company posted $0.42 earnings per share. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, equities research analysts forecast that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date was Monday, November 4th. Baker Hughes’s dividend payout ratio is presently 37.67%.

About Baker Hughes

(Free Report)

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.

Further Reading

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