Empirical Finance LLC Grows Position in Baker Hughes (NASDAQ:BKR)

Empirical Finance LLC raised its position in Baker Hughes (NASDAQ:BKR) by 44.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,982 shares of the company’s stock after acquiring an additional 13,933 shares during the quarter. Empirical Finance LLC’s holdings in Baker Hughes were worth $1,845,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dynamic Advisor Solutions LLC purchased a new stake in shares of Baker Hughes during the 3rd quarter worth $279,000. CWM LLC raised its stake in Baker Hughes by 56.4% in the third quarter. CWM LLC now owns 48,422 shares of the company’s stock valued at $1,750,000 after buying an additional 17,467 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Baker Hughes by 543.4% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 11,130 shares of the company’s stock worth $402,000 after buying an additional 9,400 shares during the last quarter. Ritholtz Wealth Management boosted its position in shares of Baker Hughes by 96.8% during the 3rd quarter. Ritholtz Wealth Management now owns 25,631 shares of the company’s stock worth $927,000 after acquiring an additional 12,606 shares in the last quarter. Finally, Inspire Investing LLC purchased a new position in shares of Baker Hughes in the 3rd quarter valued at about $844,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Trading Down 1.7 %

NASDAQ:BKR opened at $46.20 on Monday. Baker Hughes has a 12-month low of $28.63 and a 12-month high of $49.40. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. The stock’s 50 day simple moving average is $43.42 and its 200-day simple moving average is $39.50. The firm has a market cap of $45.72 billion, a P/E ratio of 15.50, a PEG ratio of 2.07 and a beta of 1.39.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. Equities analysts anticipate that Baker Hughes will post 2.57 EPS for the current year.

Baker Hughes Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Tuesday, February 11th will be given a $0.23 dividend. The ex-dividend date is Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.99%. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s dividend payout ratio (DPR) is presently 28.19%.

Analysts Set New Price Targets

Several research firms recently weighed in on BKR. Argus upgraded Baker Hughes from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Barclays upped their target price on shares of Baker Hughes from $51.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Bank of America increased their target price on shares of Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Jefferies Financial Group boosted their price target on shares of Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Finally, Susquehanna raised their price objective on Baker Hughes from $53.00 to $55.00 and gave the stock a “positive” rating in a report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.18.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the sale, the executive vice president now owns 173,302 shares of the company’s stock, valued at approximately $7,758,730.54. This trade represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is owned by corporate insiders.

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.