GAMMA Investing LLC Grows Stake in Baker Hughes (NASDAQ:BKR)

GAMMA Investing LLC grew its position in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 5,522.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 578,294 shares of the company's stock after purchasing an additional 568,008 shares during the period. GAMMA Investing LLC owned about 0.06% of Baker Hughes worth $25,416,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BKR. Moody National Bank Trust Division bought a new position in shares of Baker Hughes during the first quarter valued at about $222,000. Versant Capital Management Inc lifted its stake in shares of Baker Hughes by 52.1% in the 1st quarter. Versant Capital Management Inc now owns 2,726 shares of the company's stock valued at $120,000 after acquiring an additional 934 shares during the last quarter. First Hawaiian Bank boosted its holdings in Baker Hughes by 28.0% during the 1st quarter. First Hawaiian Bank now owns 120,567 shares of the company's stock valued at $5,299,000 after acquiring an additional 26,404 shares during the period. MassMutual Private Wealth & Trust FSB grew its position in Baker Hughes by 14.7% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 3,334 shares of the company's stock worth $147,000 after acquiring an additional 427 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in Baker Hughes by 11.6% during the 4th quarter. Wellington Management Group LLP now owns 455,714 shares of the company's stock worth $18,693,000 after acquiring an additional 47,404 shares during the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Baker Hughes Stock Up 2.0%

Shares of BKR traded up $0.75 on Friday, reaching $37.90. The stock had a trading volume of 4,268,175 shares, compared to its average volume of 7,087,500. Baker Hughes has a 12-month low of $30.93 and a 12-month high of $49.40. The firm has a market capitalization of $37.55 billion, a price-to-earnings ratio of 12.72, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. The company has a 50-day simple moving average of $37.44 and a 200-day simple moving average of $41.61.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.03. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. The company had revenue of $6.43 billion during the quarter, compared to analysts' expectations of $6.54 billion. Sell-side analysts predict that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $0.92 annualized dividend and a dividend yield of 2.43%. Baker Hughes's payout ratio is 31.40%.

Wall Street Analyst Weigh In

Several analysts have weighed in on BKR shares. TD Securities lowered their price objective on Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Morgan Stanley lowered their price target on shares of Baker Hughes from $55.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Barclays dropped their price target on shares of Baker Hughes from $54.00 to $48.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Susquehanna decreased their price objective 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. Finally, Stifel Nicolaus set a $50.00 target price on shares of Baker Hughes and gave the stock a "buy" rating in a 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. According to MarketBeat.com, Baker Hughes presently has a consensus rating of "Moderate Buy" and a consensus target price of $49.11.

Baker Hughes Company 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.