Arosa Capital Management LP Invests $2.87 Million in Baker Hughes (NASDAQ:BKR)

Arosa Capital Management LP purchased a new position in shares of Baker Hughes (NASDAQ:BKR - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 70,000 shares of the company's stock, valued at approximately $2,871,000. Baker Hughes makes up about 1.2% of Arosa Capital Management LP's portfolio, making the stock its 19th biggest holding.

Other large investors have also recently added to or reduced their stakes in the company. Prosperity Consulting Group LLC acquired a new position in shares of Baker Hughes in the fourth quarter valued at $421,000. Susquehanna Fundamental Investments LLC acquired a new position in Baker Hughes in the 4th quarter valued at about $2,372,000. Coldstream Capital Management Inc. raised its holdings in Baker Hughes by 7.6% in the 4th quarter. Coldstream Capital Management Inc. now owns 13,802 shares of the company's stock valued at $566,000 after acquiring an additional 978 shares during the period. Nebula Research & Development LLC acquired a new stake in Baker Hughes during the fourth quarter worth approximately $233,000. Finally, Integrated Wealth Concepts LLC boosted its holdings in shares of Baker Hughes by 42.1% during the fourth quarter. Integrated Wealth Concepts LLC now owns 23,003 shares of the company's stock worth $944,000 after acquiring an additional 6,815 shares during the period. Institutional investors and hedge funds own 92.06% of the company's stock.

Baker Hughes Price Performance

Shares of NASDAQ BKR traded up $0.80 during mid-day trading on Friday, hitting $36.99. 3,461,092 shares of the stock traded hands, compared to its average volume of 6,915,965. Baker Hughes has a twelve month low of $30.93 and a twelve month high of $49.40. The firm has a 50 day simple moving average of $40.58 and a two-hundred day simple moving average of $41.99. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. The company has a market cap of $36.62 billion, a PE ratio of 12.42, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. The business had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.54 billion. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. As a group, equities research analysts forecast that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Tuesday, May 6th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend is Tuesday, May 6th. Baker Hughes's dividend payout ratio is currently 31.40%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Benchmark reissued a "buy" rating and set a $57.00 price target on shares of Baker Hughes in a report on Tuesday, February 11th. TD Securities reduced their target price on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. TD Cowen lowered their price target on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Barclays dropped their price objective on shares of Baker Hughes from $54.00 to $48.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Finally, Susquehanna decreased their target price on shares of Baker Hughes from $48.00 to $46.00 and set a "positive" rating on the stock in a research report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $49.11.

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.