Sanctuary Advisors LLC Has $3.18 Million Stake in Baker Hughes (NASDAQ:BKR)

Sanctuary Advisors LLC increased its position in Baker Hughes (NASDAQ:BKR) by 92.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 87,961 shares of the company’s stock after buying an additional 42,148 shares during the period. Sanctuary Advisors LLC’s holdings in Baker Hughes were worth $3,180,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. National Pension Service increased its stake in shares of Baker Hughes by 6.4% during the 3rd quarter. National Pension Service now owns 1,362,973 shares of the company’s stock worth $49,271,000 after purchasing an additional 81,625 shares during the last quarter. Hixon Zuercher LLC acquired a new position in Baker Hughes during the third quarter worth $1,980,000. Banque Cantonale Vaudoise raised its holdings in Baker Hughes by 76.1% during the third quarter. Banque Cantonale Vaudoise now owns 122,661 shares of the company’s stock valued at $4,434,000 after buying an additional 53,006 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Baker Hughes by 7.6% in the second quarter. AQR Capital Management LLC now owns 6,424,915 shares of the company’s stock worth $223,523,000 after buying an additional 455,307 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in shares of Baker Hughes by 90.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 447,673 shares of the company’s stock worth $16,183,000 after acquiring an additional 212,520 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Wall Street Analysts Forecast Growth

BKR has been the subject of several analyst reports. Wells Fargo & Company boosted their target price on Baker Hughes from $42.00 to $49.00 and gave the stock an “overweight” rating in a report on Tuesday. Argus upgraded shares of Baker Hughes from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Morgan Stanley raised their target price on shares of Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. 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, Benchmark reaffirmed a “buy” rating and issued a $42.00 price target on shares of Baker Hughes in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, Baker Hughes presently has an average rating of “Moderate Buy” and an average target price of $45.53.

Baker Hughes Stock Performance

Shares of NASDAQ BKR opened at $41.41 on Wednesday. The firm has a market capitalization of $40.98 billion, a price-to-earnings ratio of 18.57, a PEG ratio of 0.72 and a beta of 1.40. Baker Hughes has a one year low of $28.32 and a one year high of $45.17. The business has a fifty day simple moving average of $40.71 and a 200 day simple moving average of $36.85. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) 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 company had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $7.21 billion. During the same quarter in the prior year, the company posted $0.42 EPS. The business’s revenue was up 4.0% on a year-over-year basis. Sell-side analysts expect that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes’s dividend payout ratio is 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.