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

GAMMA Investing LLC boosted its holdings in Baker Hughes (NASDAQ:BKR) by 41.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,286 shares of the company’s stock after purchasing an additional 2,998 shares during the quarter. GAMMA Investing LLC’s holdings in Baker Hughes were worth $422,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. TD Asset Management Inc boosted its stake in shares of Baker Hughes by 6.0% during the second quarter. TD Asset Management Inc now owns 423,848 shares of the company’s stock worth $14,907,000 after buying an additional 24,145 shares during the period. Candriam S.C.A. lifted its position in Baker Hughes by 13.4% during the 2nd quarter. Candriam S.C.A. now owns 87,219 shares of the company’s stock worth $3,067,000 after acquiring an additional 10,294 shares during the period. Savant Capital LLC grew its stake in shares of Baker Hughes by 9.9% in the 2nd quarter. Savant Capital LLC now owns 95,908 shares of the company’s stock valued at $3,373,000 after purchasing an additional 8,633 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of Baker Hughes by 77.0% in the second quarter. Acadian Asset Management LLC now owns 423,642 shares of the company’s stock valued at $14,894,000 after purchasing an additional 184,291 shares during the period. Finally, Caprock Group LLC raised its stake in shares of Baker Hughes by 56.4% during the second quarter. Caprock Group LLC now owns 30,480 shares of the company’s stock worth $1,072,000 after purchasing an additional 10,992 shares during the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Trading Up 2.6 %

Shares of BKR opened at $42.66 on Monday. 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. The stock has a market cap of $42.21 billion, a price-to-earnings ratio of 19.13, a price-to-earnings-growth ratio of 0.72 and a beta of 1.39. The firm has a 50 day simple moving average of $41.71 and a 200-day simple moving average of $37.67.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, topping 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 company had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.21 billion. During the same quarter last year, the business posted $0.42 earnings per share. Baker Hughes’s revenue was up 4.0% compared to the same quarter last year. Equities analysts forecast that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Stifel Nicolaus boosted their price objective on shares of Baker Hughes from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Morgan Stanley boosted their price target on shares of Baker Hughes from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, October 3rd. Susquehanna raised their price objective on shares of Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a research report on Thursday, October 24th. Wells Fargo & Company boosted their target price on Baker Hughes from $42.00 to $49.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, Bank of America raised their price target on Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Baker Hughes presently has an average rating of “Moderate Buy” and a consensus price target of $47.12.

About Baker Hughes

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.