Empirical Finance LLC Has $1.07 Million Stock Position in Baker Hughes (NASDAQ:BKR)

Empirical Finance LLC boosted its stake in Baker Hughes (NASDAQ:BKR) by 3.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 31,892 shares of the company’s stock after buying an additional 1,211 shares during the period. Empirical Finance LLC’s holdings in Baker Hughes were worth $1,068,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank acquired a new position in shares of Baker Hughes during the 4th quarter worth approximately $551,555,000. Dimensional Fund Advisors LP grew its position in shares of Baker Hughes by 19.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,669,307 shares of the company’s stock worth $296,319,000 after purchasing an additional 1,395,083 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Baker Hughes by 3.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,658,242 shares of the company’s stock worth $227,579,000 after purchasing an additional 204,839 shares in the last quarter. Clearbridge Investments LLC grew its position in shares of Baker Hughes by 8.5% during the 4th quarter. Clearbridge Investments LLC now owns 5,996,400 shares of the company’s stock worth $204,957,000 after purchasing an additional 470,054 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Baker Hughes by 47.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 5,635,875 shares of the company’s stock worth $192,634,000 after acquiring an additional 1,822,487 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BKR. UBS Group increased their price target on shares of Baker Hughes from $35.00 to $36.00 in a research report on Tuesday, April 23rd. Susquehanna reiterated a “positive” rating and set a $40.00 price target on shares of Baker Hughes in a research report on Monday, April 8th. Benchmark reiterated a “buy” rating and set a $40.00 price target on shares of Baker Hughes in a research report on Wednesday, April 24th. The Goldman Sachs Group increased their price objective on shares of Baker Hughes from $36.00 to $38.00 in a research note on Tuesday, April 23rd. Finally, Jefferies Financial Group increased their price objective on shares of Baker Hughes from $45.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.27.

Insiders Place Their Bets

In other Baker Hughes news, EVP Maria C. Borras sold 55,980 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $32.00, for a total value of $1,791,360.00. Following the completion of the sale, the executive vice president now directly owns 92,035 shares in the company, valued at $2,945,120. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.25% of the company’s stock.

Baker Hughes Trading Down 0.0 %

Shares of BKR traded down $0.01 during trading hours on Friday, hitting $34.50. 4,738,599 shares of the stock were exchanged, compared to its average volume of 7,668,344. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $37.58. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.25 and a quick ratio of 0.84. The business has a 50-day moving average of $32.91 and a 200-day moving average of $32.09. The firm has a market capitalization of $34.43 billion, a P/E ratio of 19.29, a price-to-earnings-growth ratio of 0.58 and a beta of 1.41.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.03. The company had revenue of $6.42 billion during the quarter, compared to analysts’ expectations of $6.37 billion. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. Baker Hughes’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.28 earnings per share. On average, research analysts expect that Baker Hughes will post 2.09 EPS for the current year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 6th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend was Friday, May 3rd. Baker Hughes’s payout ratio is 46.93%.

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.