Fuller & Thaler Asset Management Inc. Makes New $1.33 Million Investment in Baker Hughes (NASDAQ:BKR)

Fuller & Thaler Asset Management Inc. acquired a new position in Baker Hughes (NASDAQ:BKR - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 32,340 shares of the company's stock, valued at approximately $1,327,000.

A number of other large investors have also recently modified their holdings of BKR. Norges Bank bought a new stake in shares of Baker Hughes during the fourth quarter valued at approximately $829,092,000. Raymond James Financial Inc. purchased a new position in shares of Baker Hughes in the fourth quarter worth $291,289,000. Neuberger Berman Group LLC raised its stake in shares of Baker Hughes by 2,527.6% in the fourth quarter. Neuberger Berman Group LLC now owns 3,319,418 shares of the company's stock worth $136,158,000 after purchasing an additional 3,193,089 shares during the last quarter. Congress Asset Management Co. bought a new position in shares of Baker Hughes during the fourth quarter valued at $107,155,000. Finally, FMR LLC boosted its position in shares of Baker Hughes by 12.5% during the fourth quarter. FMR LLC now owns 15,702,057 shares of the company's stock valued at $644,098,000 after buying an additional 1,744,225 shares during the last quarter. Institutional investors own 92.06% of the company's stock.

Baker Hughes Price Performance

Shares of BKR stock traded down $0.29 on Tuesday, hitting $35.92. 7,425,286 shares of the stock traded hands, compared to its average volume of 6,901,943. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. Baker Hughes has a 52 week low of $30.93 and a 52 week high of $49.40. The firm has a 50 day simple moving average of $41.17 and a two-hundred day simple moving average of $42.09. The firm has a market cap of $35.56 billion, a price-to-earnings ratio of 12.05, a PEG ratio of 2.00 and a beta of 1.08.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.48 by $0.03. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. The business had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.54 billion. As a group, equities research analysts predict that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, May 6th. This represents a $0.92 annualized dividend and a yield of 2.56%. Baker Hughes's payout ratio is 31.40%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Piper Sandler lowered their target price on shares of Baker Hughes from $53.00 to $50.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Benchmark restated a "buy" rating and issued a $57.00 target price on shares of Baker Hughes in a report on Tuesday, February 11th. Royal Bank of Canada decreased their target price on shares of Baker Hughes from $50.00 to $46.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Wells Fargo & Company raised their price target on Baker Hughes from $49.00 to $54.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. upped their price objective on Baker Hughes from $50.00 to $52.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, Baker Hughes has a consensus rating of "Moderate Buy" and an average price target of $49.11.

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.