Trexquant Investment LP Grows Stock Holdings in Baker Hughes (NASDAQ:BKR)

Trexquant Investment LP raised its holdings in shares of Baker Hughes (NASDAQ:BKR) by 110.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 441,147 shares of the company’s stock after purchasing an additional 231,091 shares during the quarter. Trexquant Investment LP’s holdings in Baker Hughes were worth $18,096,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Townsquare Capital LLC increased its stake in Baker Hughes by 41.0% during the third quarter. Townsquare Capital LLC now owns 21,551 shares of the company’s stock worth $779,000 after acquiring an additional 6,272 shares during the last quarter. Erste Asset Management GmbH purchased a new stake in Baker Hughes during the 3rd quarter valued at $1,004,000. Point72 Hong Kong Ltd bought a new stake in Baker Hughes in the third quarter worth $416,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Baker Hughes during the third quarter worth $386,000. Finally, Benjamin Edwards Inc. bought a new position in Baker Hughes during the third quarter valued at $283,000. 92.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $7,758,730.54. This trade represents a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is owned by insiders.

Baker Hughes Stock Up 1.9 %

Baker Hughes stock opened at $44.80 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The firm has a market cap of $44.36 billion, a P/E ratio of 15.03, a P/E/G ratio of 2.00 and a beta of 1.30. The business has a fifty day moving average of $44.71 and a two-hundred day moving average of $41.95. Baker Hughes has a twelve month low of $30.93 and a twelve month high of $49.40.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, beating 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%. On average, analysts forecast that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were given 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 was Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a yield of 2.05%. Baker Hughes’s dividend payout ratio is presently 30.87%.

Analysts Set New Price Targets

Several research firms have recently issued reports on BKR. Stifel Nicolaus raised their target price on shares of Baker Hughes from $48.00 to $54.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Piper Sandler boosted their target price on Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Atb Cap Markets cut Baker Hughes from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Royal Bank of Canada boosted their price objective on Baker Hughes from $49.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Finally, Susquehanna lifted their target price on Baker Hughes from $53.00 to $55.00 and gave the stock a “positive” rating in a research report on Monday, February 3rd. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $51.00.

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.