ExodusPoint Capital Management LP Raises Stake in Baker Hughes (NASDAQ:BKR)

ExodusPoint Capital Management LP increased its stake in Baker Hughes (NASDAQ:BKR - Free Report) by 83.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 415,576 shares of the company's stock after acquiring an additional 188,603 shares during the period. ExodusPoint Capital Management LP's holdings in Baker Hughes were worth $17,047,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of BKR. Dynasty Wealth Management LLC boosted its stake in shares of Baker Hughes by 2.7% during the fourth quarter. Dynasty Wealth Management LLC now owns 7,904 shares of the company's stock valued at $324,000 after purchasing an additional 207 shares during the period. Larson Financial Group LLC boosted its position in Baker Hughes by 41.2% in the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company's stock valued at $30,000 after buying an additional 216 shares during the period. Alpine Woods Capital Investors LLC grew its stake in Baker Hughes by 0.7% in the 4th quarter. Alpine Woods Capital Investors LLC now owns 40,467 shares of the company's stock worth $1,660,000 after acquiring an additional 267 shares in the last quarter. Cromwell Holdings LLC increased its position in shares of Baker Hughes by 9.3% during the fourth quarter. Cromwell Holdings LLC now owns 3,169 shares of the company's stock worth $130,000 after acquiring an additional 269 shares during the period. Finally, 180 Wealth Advisors LLC boosted its holdings in shares of Baker Hughes by 1.3% in the fourth quarter. 180 Wealth Advisors LLC now owns 22,506 shares of the company's stock valued at $923,000 after purchasing an additional 295 shares during the period. Institutional investors own 92.06% of the company's stock.

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Analyst Upgrades and Downgrades

BKR has been the topic of a number of recent research reports. Bank of America increased their price target on Baker Hughes from $42.00 to $48.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. Royal Bank of Canada raised their target price on shares of Baker Hughes from $49.00 to $53.00 and gave the company an "outperform" rating in a research report on Monday, February 3rd. Jefferies Financial Group upped their price target on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a "buy" rating in a research report on Friday, January 3rd. Susquehanna lifted their price objective on shares of Baker Hughes from $53.00 to $55.00 and gave the company a "positive" rating in a report on Monday, February 3rd. Finally, Barclays lowered their target price on Baker Hughes from $55.00 to $54.00 and set an "overweight" rating for the company in a report on Monday, March 31st. Two equities 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, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $51.18.

Insiders Place Their Bets

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the business's stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $44.77, for a total transaction of $358,160.00. Following the sale, the executive vice president now directly owns 173,302 shares in the company, valued at $7,758,730.54. This represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is owned by insiders.

Baker Hughes Price Performance

BKR traded up $3.75 during trading on Wednesday, reaching $38.75. The company's stock had a trading volume of 17,306,162 shares, compared to its average volume of 6,825,220. The company has a market cap of $38.37 billion, a price-to-earnings ratio of 13.00, a PEG ratio of 2.00 and a beta of 1.08. The firm has a fifty day simple moving average of $43.65 and a two-hundred day simple moving average of $42.01. Baker Hughes has a 1 year low of $30.93 and a 1 year high of $49.40. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, topping 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%. As a group, analysts anticipate that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th were given a $0.23 dividend. This is a positive change from Baker Hughes's previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a yield of 2.37%. Baker Hughes's payout ratio is presently 30.87%.

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.