Trexquant Investment LP Purchases 231,091 Shares of Baker Hughes (NASDAQ:BKR)

Trexquant Investment LP increased its stake in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 110.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 441,147 shares of the company's stock after buying an additional 231,091 shares during the quarter. Trexquant Investment LP's holdings in Baker Hughes were worth $18,096,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BKR. Strategic Financial Concepts LLC acquired a new stake in shares of Baker Hughes during the fourth quarter valued at about $640,000. Burney Co. increased its position in Baker Hughes by 315.0% in the 4th quarter. Burney Co. now owns 138,788 shares of the company's stock valued at $5,693,000 after acquiring an additional 105,349 shares during the period. Northstar Advisory Group LLC bought a new position in shares of Baker Hughes during the fourth quarter valued at $1,180,000. Artemis Investment Management LLP lifted its holdings in shares of Baker Hughes by 29.4% during the fourth quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company's stock worth $43,233,000 after purchasing an additional 239,773 shares during the period. Finally, Czech National Bank grew its stake in shares of Baker Hughes by 6.0% in the fourth quarter. Czech National Bank now owns 214,549 shares of the company's stock worth $8,801,000 after purchasing an additional 12,178 shares during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BKR. Atb Cap Markets downgraded Baker Hughes from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 10th. Benchmark reaffirmed a "buy" rating and issued a $57.00 price objective on shares of Baker Hughes in a research note on Tuesday, February 11th. Evercore ISI lifted their target price on shares of Baker Hughes from $46.00 to $52.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 15th. Barclays dropped their price objective on Baker Hughes from $55.00 to $54.00 and set an "overweight" rating on the stock in a research note on Monday, March 31st. Finally, Royal Bank of Canada raised their price objective on shares of Baker Hughes from $49.00 to $53.00 and gave the stock an "outperform" rating in a research 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. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $51.00.

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Insiders Place Their Bets

In other news, EVP Maria C. Borras sold 8,000 shares of the firm's stock in a transaction on 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 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.25% of the stock is owned by corporate insiders.

Baker Hughes Stock Performance

Shares of NASDAQ:BKR traded down $5.45 during mid-day trading on Friday, reaching $35.41. The company had a trading volume of 20,972,174 shares, compared to its average volume of 6,692,906. The firm has a market cap of $35.06 billion, a price-to-earnings ratio of 11.88, a PEG ratio of 2.00 and a beta of 1.08. The company's 50-day moving average price is $44.40 and its 200-day moving average price is $42.02. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. Baker Hughes has a one year low of $30.93 and a one year high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. As a group, equities research analysts anticipate that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were issued a dividend of $0.23 per share. This is a boost 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 2.60%. Baker Hughes's dividend payout ratio is 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.