Tribune Investment Group LP Buys New Holdings in Baker Hughes (NASDAQ:BKR)

Tribune Investment Group LP purchased a new stake in shares of Baker Hughes (NASDAQ:BKR - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 130,000 shares of the company's stock, valued at approximately $5,333,000. Baker Hughes comprises about 3.0% of Tribune Investment Group LP's investment portfolio, making the stock its 15th biggest position.

A number of other large investors also recently modified their holdings of BKR. Strategic Financial Concepts LLC bought a new position in Baker Hughes during the 4th quarter worth $640,000. Burney Co. raised its holdings in Baker Hughes by 315.0% during the 4th quarter. Burney Co. now owns 138,788 shares of the company's stock worth $5,693,000 after purchasing an additional 105,349 shares during the last quarter. Geode Capital Management LLC boosted its position in Baker Hughes by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company's stock valued at $1,004,212,000 after acquiring an additional 465,832 shares during the last quarter. Northstar Advisory Group LLC acquired a new stake in Baker Hughes during the 4th quarter worth about $1,180,000. Finally, Artemis Investment Management LLP lifted its stake in shares of Baker Hughes by 29.4% in the 4th quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company's stock valued at $43,233,000 after purchasing an additional 239,773 shares during the period. 92.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BKR has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on Baker Hughes from $50.00 to $52.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Benchmark reiterated a "buy" rating and set a $57.00 price objective on shares of Baker Hughes in a report on Tuesday, February 11th. Citigroup decreased their target price on Baker Hughes from $54.00 to $53.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Evercore ISI increased their price target on Baker Hughes from $46.00 to $52.00 and gave the stock an "outperform" rating in a report on Wednesday, January 15th. Finally, The Goldman Sachs Group increased their target price on Baker Hughes from $51.00 to $52.00 and gave the stock a "buy" rating in a report on Thursday, January 23rd. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $50.65.

Insider Activity

In related news, EVP Maria C. Borras sold 8,000 shares of the business's stock in a transaction that occurred 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 in the company, valued at $7,758,730.54. The trade was a 4.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.27% of the company's stock.

Baker Hughes Stock Performance

Shares of BKR traded up $0.73 during trading hours on Friday, hitting $38.86. The company's stock had a trading volume of 5,548,880 shares, compared to its average volume of 6,880,953. The company has a market cap of $38.47 billion, a price-to-earnings ratio of 13.04, a PEG ratio of 2.00 and a beta of 1.08. The business has a 50 day simple moving average of $42.34 and a two-hundred day simple moving average of $42.06. Baker Hughes has a 52-week low of $30.93 and a 52-week high of $49.40. 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 (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, topping 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%. On average, equities analysts expect that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

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

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.