Zions Bancorporation Takes $150,000 Position in Baker Hughes Incorporated (BHGE)
Zions Bancorporation purchased a new stake in shares of Baker Hughes Incorporated (NYSE:BHGE) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,090 shares of the company’s stock, valued at approximately $150,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in BHGE. First Bank & Trust bought a new stake in Baker Hughes in the 3rd quarter worth approximately $101,000. Amica Retiree Medical Trust bought a new stake in Baker Hughes in the 3rd quarter worth approximately $101,000. Trust Co. of Vermont bought a new stake in Baker Hughes in the 3rd quarter worth approximately $105,000. Westside Investment Management Inc. bought a new stake in Baker Hughes in the 3rd quarter worth approximately $108,000. Finally, Sun Life Financial INC bought a new stake in Baker Hughes in the 3rd quarter worth approximately $115,000. 89.48% of the stock is owned by institutional investors.
In other Baker Hughes news, insider Matthias L. Heilmann bought 1,500 shares of Baker Hughes stock in a transaction dated Thursday, October 26th. The shares were purchased at an average cost of $30.04 per share, for a total transaction of $45,060.00. Following the acquisition, the insider now directly owns 3,500 shares in the company, valued at approximately $105,140. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.66% of the company’s stock.
Baker Hughes (NYSE:BHGE) last announced its quarterly earnings results on Friday, October 20th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.07). The company had revenue of $5.38 billion during the quarter, compared to analysts’ expectations of $5.52 billion. Baker Hughes had a negative return on equity of 0.84% and a negative net margin of 6.66%. The company’s quarterly revenue was up 77.7% on a year-over-year basis. sell-side analysts expect that Baker Hughes Incorporated will post 0.41 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Monday, November 6th were issued a $0.18 dividend. The ex-dividend date of this dividend was Friday, November 3rd. This is an increase from Baker Hughes’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.37%. Baker Hughes’s payout ratio is -111.34%.
A number of equities research analysts have commented on BHGE shares. Cowen set a $50.00 target price on shares of Baker Hughes and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Morgan Stanley set a $53.00 price objective on shares of Baker Hughes and gave the company a “buy” rating in a research report on Monday, October 23rd. Barclays set a $41.00 price objective on shares of Baker Hughes and gave the company a “buy” rating in a research report on Thursday, October 26th. B. Riley reissued a “neutral” rating on shares of Baker Hughes in a research report on Friday, November 3rd. Finally, Loop Capital set a $37.00 price objective on shares of Baker Hughes and gave the company a “hold” rating in a research report on Monday, October 23rd. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the company. Baker Hughes presently has an average rating of “Hold” and a consensus target price of $40.74.
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