Hennessy Advisors Inc. Makes New Investment in Baker Hughes (NASDAQ:BKR)

Hennessy Advisors Inc. bought a new position in Baker Hughes (NASDAQ:BKR) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 167,500 shares of the company’s stock, valued at approximately $5,611,000.

Other large investors have also bought and sold shares of the company. Louisiana State Employees Retirement System purchased a new position in Baker Hughes during the fourth quarter worth about $4,813,000. Nordea Investment Management AB grew its position in Baker Hughes by 731.1% during the fourth quarter. Nordea Investment Management AB now owns 1,458,833 shares of the company’s stock worth $49,732,000 after buying an additional 1,283,296 shares in the last quarter. Cibc World Markets Corp grew its position in Baker Hughes by 59.4% during the fourth quarter. Cibc World Markets Corp now owns 274,046 shares of the company’s stock worth $9,367,000 after buying an additional 102,174 shares in the last quarter. Wellington Management Group LLP grew its position in Baker Hughes by 12.0% during the third quarter. Wellington Management Group LLP now owns 905,513 shares of the company’s stock worth $31,983,000 after buying an additional 97,108 shares in the last quarter. Finally, Caxton Associates LP purchased a new position in Baker Hughes during the fourth quarter worth about $13,672,000. 92.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BKR has been the subject of a number of recent analyst reports. Morgan Stanley upped their price target on Baker Hughes from $40.00 to $43.00 in a research report on Tuesday, April 23rd. The Goldman Sachs Group upped their price target on Baker Hughes from $36.00 to $38.00 in a research report on Tuesday, April 23rd. Benchmark reaffirmed a “buy” rating and set a $40.00 price target on shares of Baker Hughes in a research report on Wednesday, April 24th. Susquehanna reaffirmed a “positive” rating and set a $40.00 price target on shares of Baker Hughes in a research report on Monday, April 8th. Finally, UBS Group upped their target price on Baker Hughes from $35.00 to $36.00 in a report on Tuesday, April 23rd. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $41.13.

Insiders Place Their Bets

In other news, SVP James E. Apostolides sold 5,000 shares of Baker Hughes stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $33.88, for a total transaction of $169,400.00. Following the completion of the sale, the senior vice president now owns 14,998 shares of the company’s stock, valued at $508,132.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Baker Hughes news, EVP Maria C. Borras sold 55,980 shares of Baker Hughes stock in a transaction on Friday, May 24th. The shares were sold at an average price of $32.00, for a total value of $1,791,360.00. Following the transaction, the executive vice president now directly owns 92,035 shares of the company’s stock, valued at $2,945,120. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP James E. Apostolides sold 5,000 shares of Baker Hughes stock in a transaction on Friday, April 5th. The stock was sold at an average price of $33.88, for a total transaction of $169,400.00. Following the completion of the transaction, the senior vice president now directly owns 14,998 shares in the company, valued at $508,132.24. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

Baker Hughes Trading Down 0.1 %

BKR traded down $0.05 on Thursday, hitting $34.42. The company had a trading volume of 5,117,592 shares, compared to its average volume of 7,885,419. The company has a market cap of $34.35 billion, a PE ratio of 19.23, a PEG ratio of 0.60 and a beta of 1.43. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $37.58. The company has a quick ratio of 0.84, a current ratio of 1.25 and a debt-to-equity ratio of 0.38. The business’s fifty day simple moving average is $32.52 and its 200 day simple moving average is $32.01.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.40 by $0.03. The company had revenue of $6.42 billion during the quarter, compared to analyst estimates of $6.37 billion. Baker Hughes had a return on equity of 11.42% and a net margin of 6.95%. The firm’s revenue was up 12.3% on a year-over-year basis. During the same quarter last year, the business posted $0.28 earnings per share. Equities research analysts expect that Baker Hughes will post 2.09 EPS for the current year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 6th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.44%. The ex-dividend date of this dividend was Friday, May 3rd. Baker Hughes’s payout ratio is currently 46.93%.

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.