Empirical Finance LLC Boosts Stock Holdings in Baker Hughes (NASDAQ:BKR)

Empirical Finance LLC grew its position in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 44.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,982 shares of the company's stock after buying 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 filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Hotchkis & Wiley Capital Management LLC boosted its stake in Baker Hughes by 34.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company's stock worth $394,775,000 after purchasing an additional 2,811,940 shares in the last quarter. Yaupon Capital Management LP bought a new stake in shares of Baker Hughes during the third quarter worth $47,296,000. Eagle Asset Management Inc. boosted its position in shares of Baker Hughes by 18.6% during the third quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company's stock worth $198,326,000 after buying an additional 860,219 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Baker Hughes by 436.0% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,004,647 shares of the company's stock worth $36,318,000 after buying an additional 817,227 shares in the last quarter. Finally, Groupama Asset Managment lifted its position in shares of Baker Hughes by 1,045.1% in the third quarter. Groupama Asset Managment now owns 889,378 shares of the company's stock worth $32,000 after purchasing an additional 811,711 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company's stock.

Insider Buying and Selling at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes 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 transaction, the executive vice president now directly owns 173,302 shares in the company, valued at approximately $7,758,730.54. This trade represents a 4.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently commented on BKR. Citigroup lifted their price target on Baker Hughes from $42.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. Benchmark reiterated a "buy" rating and issued a $57.00 price target on shares of Baker Hughes in a report on Tuesday. Evercore ISI raised their target price on Baker Hughes from $46.00 to $52.00 and gave the company an "outperform" rating in a research report on Wednesday, January 15th. TD Cowen decreased their price objective on Baker Hughes from $53.00 to $51.00 and set a "buy" rating for the company in a report on Wednesday, January 8th. Finally, Piper Sandler boosted their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the company an "overweight" 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $51.06.

Baker Hughes Price Performance

BKR traded down $0.26 during trading on Thursday, reaching $46.15. 5,188,789 shares of the company traded hands, compared to its average volume of 7,878,184. The company has a market cap of $45.67 billion, a P/E ratio of 15.49, a PEG ratio of 2.07 and a beta of 1.39. The firm has a fifty day simple moving average of $43.64 and a 200 day simple moving average of $39.73. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. Baker Hughes has a 12-month low of $28.63 and a 12-month high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. On average, equities analysts forecast 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. Shareholders of record on Tuesday, February 11th will be issued a dividend of $0.23 per share. This is an increase from Baker Hughes's previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Tuesday, February 11th. Baker Hughes's dividend payout ratio (DPR) is presently 28.19%.

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.