Eagle Asset Management Inc. Buys New Shares in Baker Hughes Company (NYSE:BKR)

Eagle Asset Management Inc. bought a new stake in shares of Baker Hughes Company (NYSE:BKR) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,649,170 shares of the company’s stock, valued at approximately $38,260,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Parallel Advisors LLC purchased a new stake in Baker Hughes in the 3rd quarter worth $32,000. Advisory Services Network LLC purchased a new stake in Baker Hughes in the 3rd quarter worth $40,000. Huntington National Bank purchased a new stake in Baker Hughes in the 3rd quarter worth $109,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Baker Hughes in the 3rd quarter worth $132,000. Finally, Municipal Employees Retirement System of Michigan purchased a new stake in Baker Hughes in the 3rd quarter worth $165,000. Institutional investors own 48.40% of the company’s stock.

Shares of NYSE BKR opened at $22.25 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.07 and a current ratio of 1.58. The stock has a market cap of $22.73 billion, a PE ratio of 33.71, a price-to-earnings-growth ratio of 3.07 and a beta of 0.98. Baker Hughes Company has a 12-month low of $20.09 and a 12-month high of $28.65.

Baker Hughes (NYSE:BKR) last announced its earnings results on Wednesday, October 30th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.03). The business had revenue of $5.88 billion for the quarter, compared to analysts’ expectations of $6.11 billion. Baker Hughes had a net margin of 0.89% and a return on equity of 1.19%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.19 earnings per share. As a group, sell-side analysts expect that Baker Hughes Company will post 0.89 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 11th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend is Thursday, November 7th. Baker Hughes’s dividend payout ratio is 109.09%.

Several analysts have commented on the stock. Barclays reiterated a “buy” rating and issued a $28.00 price target on shares of Baker Hughes in a research note on Friday, November 1st. Zacks Investment Research cut shares of Baker Hughes from a “hold” rating to a “strong sell” rating in a research note on Friday. Finally, TheStreet cut shares of Baker Hughes from a “c-” rating to a “d” rating in a research report on Monday, October 21st.

Baker Hughes Company Profile

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.

Further Reading: How Investors Use a Balance Sheet

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Institutional Ownership by Quarter for Baker Hughes (NYSE:BKR)

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