Public Employees Retirement System of Ohio Takes $5 Million Position in Baker Hughes Company (NYSE:BKR)
Public Employees Retirement System of Ohio acquired a new stake in shares of Baker Hughes Company (NYSE:BKR) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 215,428 shares of the company’s stock, valued at approximately $4,998,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Parallel Advisors LLC bought a new position in Baker Hughes in the third quarter worth about $32,000. Advisory Services Network LLC acquired a new stake in shares of Baker Hughes during the 3rd quarter worth approximately $40,000. Huntington National Bank bought a new stake in shares of Baker Hughes in the 3rd quarter worth approximately $109,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Baker Hughes in the 3rd quarter worth approximately $132,000. Finally, Penserra Capital Management LLC bought a new stake in shares of Baker Hughes in the 3rd quarter worth approximately $148,000. Hedge funds and other institutional investors own 97.54% of the company’s stock.
In other Baker Hughes news, insider William D. Marsh sold 6,136 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $22.15, for a total transaction of $135,912.40. Following the transaction, the insider now owns 39,504 shares of the company’s stock, valued at approximately $875,013.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider William D. Marsh sold 5,857 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $22.65, for a total transaction of $132,661.05. Following the transaction, the insider now directly owns 33,647 shares in the company, valued at approximately $762,104.55. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.
Baker Hughes (NYSE:BKR) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.03). The business had revenue of $5.88 billion during the quarter, compared to the consensus estimate of $6.11 billion. Baker Hughes had a return on equity of 1.19% and a net margin of 0.89%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.19 EPS. Equities research analysts forecast that Baker Hughes Company will post 0.89 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 11th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend was Thursday, November 7th. Baker Hughes’s dividend payout ratio is currently 109.09%.
A number of research analysts recently commented on BKR shares. Susquehanna Bancshares upgraded Baker Hughes from a “neutral” rating to a “positive” rating in a research note on Friday, November 15th. Deutsche Bank initiated coverage on shares of Baker Hughes in a report on Wednesday, November 27th. They set a “buy” rating and a $32.00 price target for the company. Zacks Investment Research lowered shares of Baker Hughes from a “hold” rating to a “strong sell” rating in a research report on Friday, November 8th. TheStreet cut shares of Baker Hughes from a “c-” rating to a “d” rating in a report on Monday, October 21st. Finally, Barclays reissued a “buy” rating and set a $28.00 target price on shares of Baker Hughes in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $30.00.
About Baker Hughes
Baker Hughes Company provides integrated oilfield products, services, and digital solutions worldwide. Its Oilfield Services segment offers drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, completions tools and systems, wellbore intervention tools and services, artificial lift systems, pressure pumping systems, and oilfield and industrial chemicals for integrated oil and natural gas and oilfield service companies.
Featured Article: What is the Quick Ratio?
Want to see what other hedge funds are holding BKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Baker Hughes Company (NYSE:BKR).
Receive News & Ratings for Baker Hughes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baker Hughes and related companies with MarketBeat.com's FREE daily email newsletter.