Voloridge Investment Management LLC Takes $6.90 Million Position in Baker Hughes (NASDAQ:BKR)

Voloridge Investment Management LLC acquired a new position in shares of Baker Hughes (NASDAQ:BKR - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 168,241 shares of the company's stock, valued at approximately $6,901,000.

Several other large investors have also recently made changes to their positions in BKR. Capital Research Global Investors increased its holdings in Baker Hughes by 0.6% in the fourth quarter. Capital Research Global Investors now owns 27,687,590 shares of the company's stock valued at $1,135,744,000 after buying an additional 177,232 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Baker Hughes by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company's stock valued at $1,004,212,000 after acquiring an additional 465,832 shares in the last quarter. Norges Bank acquired a new stake in shares of Baker Hughes in the fourth quarter valued at about $829,092,000. FMR LLC grew its position in Baker Hughes by 12.5% in the fourth quarter. FMR LLC now owns 15,702,057 shares of the company's stock valued at $644,098,000 after acquiring an additional 1,744,225 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Baker Hughes by 8.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 11,552,478 shares of the company's stock valued at $473,880,000 after purchasing an additional 874,297 shares during the period. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Baker Hughes Price Performance

BKR stock traded down $0.55 on Wednesday, hitting $36.68. 4,843,263 shares of the company's stock traded hands, compared to its average volume of 7,073,339. The stock has a market cap of $36.34 billion, a price-to-earnings ratio of 12.31, a P/E/G ratio of 2.00 and a beta of 0.96. Baker Hughes has a 1-year low of $30.93 and a 1-year high of $49.40. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. The stock has a fifty day moving average of $38.41 and a 200-day moving average of $41.90.

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

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend was Tuesday, May 6th. Baker Hughes's dividend payout ratio (DPR) is currently 31.40%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BKR. Citigroup dropped their target price on Baker Hughes from $54.00 to $53.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Royal Bank of Canada dropped their target price on shares of Baker Hughes from $50.00 to $46.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Benchmark reaffirmed a "buy" rating and set a $57.00 price target on shares of Baker Hughes in a research report on Tuesday, February 11th. Barclays decreased their price target on 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, Morgan Stanley cut their price objective on Baker Hughes from $55.00 to $45.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Two research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, Baker Hughes presently has an average rating of "Moderate Buy" and an average 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.