Oppenheimer & Co. Inc. bought a new position in Baker Hughes Incorporated (NYSE:BHGE) during the third quarter, according to the company in its most recent filing with the SEC. The firm bought 6,914 shares of the company’s stock, valued at approximately $253,000.
A number of other large investors have also modified their holdings of the stock. American Century Companies Inc. purchased a new position in Baker Hughes in the 3rd quarter worth $219,160,000. TCW Group Inc. purchased a new position in Baker Hughes in the 3rd quarter worth $139,949,000. Bank of New York Mellon Corp purchased a new position in shares of Baker Hughes in the third quarter valued at about $126,754,000. Ameriprise Financial Inc. purchased a new position in shares of Baker Hughes in the third quarter valued at about $64,788,000. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Baker Hughes in the third quarter valued at about $43,646,000. Institutional investors own 89.48% of the company’s stock.
In other Baker Hughes news, insider Matthias L. Heilmann acquired 1,500 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The shares were acquired at an average price of $30.04 per share, with a total value of $45,060.00. Following the completion of the purchase, the insider now directly owns 3,500 shares of the company’s stock, valued at approximately $105,140. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.66% of the company’s stock.
Baker Hughes (NYSE:BHGE) last announced its earnings results on Friday, October 20th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.07). The company had revenue of $5.38 billion for the quarter, compared to the consensus estimate of $5.52 billion. Baker Hughes had a negative net margin of 6.66% and a negative return on equity of 0.84%. The firm’s revenue for the quarter was up 77.7% on a year-over-year basis. analysts forecast that Baker Hughes Incorporated will post 0.41 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Monday, November 6th were paid a dividend of $0.18 per share. The ex-dividend date was Friday, November 3rd. This represents a $0.72 annualized dividend and a yield of 2.27%. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.17. Baker Hughes’s payout ratio is presently -111.34%.
BHGE has been the topic of a number of analyst reports. Royal Bank Of Canada set a $44.00 price objective on shares of Baker Hughes and gave the company a “buy” rating in a research report on Saturday, October 7th. Deutsche Bank initiated coverage on shares of Baker Hughes in a research report on Tuesday, October 10th. They issued a “hold” rating and a $35.00 price objective on the stock. Jefferies Group restated a “hold” rating and issued a $40.00 price objective on shares of Baker Hughes in a research report on Sunday, September 10th. Cowen set a $50.00 price objective on shares of Baker Hughes and gave the company a “buy” rating in a research report on Wednesday, October 18th. Finally, Zacks Investment Research upgraded shares of Baker Hughes from a “strong sell” rating to a “hold” rating in a research report on Monday, November 13th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $40.74.
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