Artemis Investment Management LLP Acquires 239,773 Shares of Baker Hughes (NASDAQ:BKR)

Artemis Investment Management LLP increased its holdings in shares of Baker Hughes (NASDAQ:BKR) by 29.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,053,947 shares of the company’s stock after purchasing an additional 239,773 shares during the period. Artemis Investment Management LLP owned approximately 0.11% of Baker Hughes worth $43,233,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Ashton Thomas Securities LLC acquired a new stake in shares of Baker Hughes in the 3rd quarter valued at about $30,000. True Wealth Design LLC lifted its stake in Baker Hughes by 2,181.6% in the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company’s stock valued at $31,000 after acquiring an additional 829 shares in the last quarter. Groupama Asset Managment boosted its position in 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 acquiring an additional 811,711 shares during the last quarter. Continuum Advisory LLC grew its stake in shares of Baker Hughes by 442.2% during the 3rd quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock worth $35,000 after acquiring an additional 796 shares in the last quarter. Finally, Quarry LP raised its holdings in shares of Baker Hughes by 81.1% in the second quarter. Quarry LP now owns 1,594 shares of the company’s stock valued at $56,000 after purchasing an additional 714 shares during the last quarter. 92.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Benchmark reaffirmed a “buy” rating and issued a $42.00 target price on shares of Baker Hughes in a research report on Thursday, October 24th. Bank of America upped their price objective on Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. TD Cowen decreased their target price on shares of Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Susquehanna upped their price target on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a “positive” rating in a research report on Thursday, October 24th. Finally, Royal Bank of Canada boosted their price objective on shares of Baker Hughes from $43.00 to $49.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.53.

Baker Hughes Price Performance

NASDAQ:BKR opened at $46.54 on Friday. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $47.47. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30. The firm’s 50-day simple moving average is $42.74 and its 200 day simple moving average is $38.33. The firm has a market cap of $46.05 billion, a price-to-earnings ratio of 20.87, a P/E/G ratio of 0.79 and a beta of 1.39.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.61 by $0.06. The company had revenue of $6.91 billion for the quarter, compared to analysts’ expectations of $7.21 billion. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period last year, the firm earned $0.42 earnings per share. As a group, sell-side analysts predict that Baker Hughes will post 2.29 earnings per share for the current year.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.80%. The ex-dividend date was Monday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is currently 37.67%.

Baker Hughes Company 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.