GAMMA Investing LLC Raises Position in Baker Hughes (NASDAQ:BKR)

GAMMA Investing LLC increased its holdings in Baker Hughes (NASDAQ:BKR) by 41.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,286 shares of the company’s stock after purchasing an additional 2,998 shares during the period. GAMMA Investing LLC’s holdings in Baker Hughes were worth $422,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Hotchkis & Wiley Capital Management LLC raised its position in shares of Baker Hughes by 34.7% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock worth $394,775,000 after buying an additional 2,811,940 shares during the period. Yaupon Capital Management LP acquired a new stake in Baker Hughes during the third quarter worth about $47,296,000. Eagle Asset Management Inc. raised its holdings in shares of Baker Hughes by 18.6% in the 3rd quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company’s stock worth $198,326,000 after purchasing an additional 860,219 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Baker Hughes by 436.0% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,004,647 shares of the company’s stock valued at $36,318,000 after purchasing an additional 817,227 shares in the last quarter. Finally, Groupama Asset Managment grew its holdings in shares of Baker Hughes by 1,045.1% during the 3rd quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock worth $32,000 after purchasing an additional 811,711 shares during the period. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Baker Hughes Price Performance

Shares of BKR stock opened at $42.66 on Monday. The firm has a market cap of $42.21 billion, a P/E ratio of 19.13, a P/E/G ratio of 0.72 and a beta of 1.39. The firm has a fifty day moving average of $41.71 and a two-hundred day moving average of $37.67. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. Baker Hughes has a 1-year low of $28.32 and a 1-year high of $45.17.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.06. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The firm had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.21 billion. During the same period in the previous year, the company earned $0.42 earnings per share. Baker Hughes’s quarterly revenue was up 4.0% on a year-over-year basis. As a group, research analysts anticipate that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is presently 37.67%.

Analyst Ratings Changes

BKR has been the topic of several research reports. Barclays raised their price target on shares of Baker Hughes from $46.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Royal Bank of Canada lifted their target price on shares of Baker Hughes from $43.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Benchmark reiterated a “buy” rating and issued a $42.00 price target on shares of Baker Hughes in a report on Thursday, October 24th. Jefferies Financial Group boosted their price objective on Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday. Finally, UBS Group lowered their target price on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $47.12.

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.