Tribune Investment Group LP Purchases Shares of 130,000 Baker Hughes (NASDAQ:BKR)

Tribune Investment Group LP acquired a new stake in Baker Hughes (NASDAQ:BKR) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 130,000 shares of the company’s stock, valued at approximately $5,333,000. Baker Hughes comprises approximately 3.0% of Tribune Investment Group LP’s investment portfolio, making the stock its 15th biggest holding.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Strategic Financial Concepts LLC bought a new position in Baker Hughes in the 4th quarter valued at $640,000. Burney Co. boosted its holdings in Baker Hughes by 315.0% in the fourth 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 last quarter. Geode Capital Management LLC increased its position in Baker Hughes by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company’s stock worth $1,004,212,000 after purchasing an additional 465,832 shares during the period. Northstar Advisory Group LLC acquired a new stake in Baker Hughes in the fourth quarter worth about $1,180,000. Finally, Artemis Investment Management LLP lifted its position in Baker Hughes by 29.4% during 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. Institutional investors and hedge funds own 92.06% of the company’s stock.

Insider Buying and Selling

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 173,302 shares in the company, valued at $7,758,730.54. This trade represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.25% of the stock is currently owned by insiders.

Baker Hughes Trading Up 3.5 %

NASDAQ:BKR opened at $37.93 on Monday. The company has a market cap of $37.55 billion, a P/E ratio of 12.73, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08. Baker Hughes has a twelve month low of $30.93 and a twelve month high of $49.40. The business has a 50 day moving average price of $43.23 and a two-hundred day moving average price of $42.07. 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) last released its earnings results 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 return on equity of 14.58% and a net margin of 10.70%. As a group, analysts expect 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. Stockholders of record on Tuesday, February 11th were given a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a dividend yield of 2.43%. Baker Hughes’s dividend payout ratio is presently 30.87%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BKR. The Goldman Sachs Group increased their price objective on shares of Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. 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 report on Monday, February 3rd. Barclays decreased their price objective on Baker Hughes from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Monday, March 31st. Susquehanna increased their target price on Baker Hughes from $53.00 to $55.00 and gave the company a “positive” rating in a research note on Monday, February 3rd. Finally, 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. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $51.18.

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.