Lighthouse Investment Partners LLC Takes $1.55 Million Position in Baker Hughes (NASDAQ:BKR)

Lighthouse Investment Partners LLC purchased a new position in Baker Hughes (NASDAQ:BKR - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 37,678 shares of the company's stock, valued at approximately $1,546,000.

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Evercore ISI lowered their price objective on Baker Hughes from $52.00 to $50.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. TD Cowen lowered their price objective on Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. The Goldman Sachs Group boosted their price objective on Baker Hughes from $51.00 to $52.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. Benchmark restated a "buy" rating and issued a $57.00 price objective on shares of Baker Hughes in a research note on Tuesday, February 11th. Finally, TD Securities lowered their price objective on Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Two analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $49.11.

Baker Hughes Price Performance

Shares of NASDAQ BKR traded up $0.06 during midday trading on Friday, hitting $37.79. 6,155,847 shares of the company's stock were exchanged, compared to its average volume of 7,043,811. Baker Hughes has a 12-month low of $30.93 and a 12-month 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 company has a market cap of $37.44 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 2.00 and a beta of 0.96. The business's fifty day moving average price is $39.30 and its two-hundred day moving average price is $42.02.

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

Baker Hughes Announces Dividend

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

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.