Stoneridge Investment Partners LLC Sells 11,747 Shares of Baker Hughes (NASDAQ:BKR)

Stoneridge Investment Partners LLC lessened its position in Baker Hughes (NASDAQ:BKR) by 16.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 59,322 shares of the company’s stock after selling 11,747 shares during the quarter. Stoneridge Investment Partners LLC’s holdings in Baker Hughes were worth $2,144,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Catalyst Capital Advisors LLC boosted its position in Baker Hughes by 379.0% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 4,560 shares of the company’s stock valued at $165,000 after buying an additional 3,608 shares during the period. QRG Capital Management Inc. raised its stake in shares of Baker Hughes by 5.8% during the third quarter. QRG Capital Management Inc. now owns 42,175 shares of the company’s stock valued at $1,525,000 after acquiring an additional 2,305 shares in the last quarter. National Pension Service boosted its holdings in shares of Baker Hughes by 6.4% in the third quarter. National Pension Service now owns 1,362,973 shares of the company’s stock valued at $49,271,000 after purchasing an additional 81,625 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in Baker Hughes by 63.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,001,870 shares of the company’s stock worth $72,368,000 after purchasing an additional 780,417 shares in the last quarter. Finally, Angeles Wealth Management LLC purchased a new position in Baker Hughes during the 3rd quarter worth $209,000. Institutional investors own 92.06% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on BKR. Susquehanna upped their target price on Baker Hughes from $46.00 to $48.00 and gave the stock a “positive” rating in a report on Thursday, October 24th. Benchmark reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Baker Hughes in a research note on Thursday, October 24th. Jefferies Financial Group raised their target price on shares of Baker Hughes from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $43.00 price target on shares of Baker Hughes in a research report on Thursday, October 24th. Finally, TD Cowen lifted 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. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, Baker Hughes has a consensus rating of “Moderate Buy” and a consensus price target of $44.12.

Insider Activity

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

Baker Hughes Stock Up 1.4 %

BKR stock opened at $38.17 on Tuesday. The stock has a market capitalization of $37.77 billion, a PE ratio of 17.12, a price-to-earnings-growth ratio of 0.64 and a beta of 1.38. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $39.05. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37. The firm has a 50 day moving average of $36.04 and a 200 day moving average of $34.60.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data 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 during 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%. During the same period in the previous year, the firm posted $0.42 earnings per share. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. Sell-side analysts forecast that Baker Hughes will post 2.28 earnings per share for the current year.

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $0.84 annualized dividend and a yield of 2.20%. Baker Hughes’s payout ratio is presently 37.67%.

Baker Hughes 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.