AlphaCrest Capital Management LLC Grows Position in Baker Hughes (NYSE:BKR)

AlphaCrest Capital Management LLC boosted its holdings in Baker Hughes (NYSE:BKRGet Rating) by 4.1% in the 4th quarter, HoldingsChannel reports. The fund owned 49,367 shares of the company’s stock after acquiring an additional 1,949 shares during the quarter. AlphaCrest Capital Management LLC’s holdings in Baker Hughes were worth $1,188,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Capital World Investors increased its position in shares of Baker Hughes by 17.4% in the third quarter. Capital World Investors now owns 101,199,348 shares of the company’s stock valued at $2,502,707,000 after buying an additional 15,012,092 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Baker Hughes in the fourth quarter valued at $140,730,000. FIL Ltd increased its position in shares of Baker Hughes by 1,386.1% in the third quarter. FIL Ltd now owns 4,455,952 shares of the company’s stock valued at $110,194,000 after buying an additional 4,156,114 shares in the last quarter. Capital Research Global Investors increased its position in shares of Baker Hughes by 7.3% in the third quarter. Capital Research Global Investors now owns 57,935,162 shares of the company’s stock valued at $1,432,740,000 after buying an additional 3,932,069 shares in the last quarter. Finally, Marathon Asset Mgmt Ltd purchased a new position in shares of Baker Hughes in the fourth quarter valued at $62,588,000. Hedge funds and other institutional investors own 92.83% of the company’s stock.

A number of brokerages have recently weighed in on BKR. HSBC upgraded Baker Hughes from a “hold” rating to a “buy” rating and set a $38.30 price target for the company in a research report on Tuesday, April 26th. Piper Sandler raised their price target on Baker Hughes from $36.00 to $37.50 and gave the company an “overweight” rating in a research report on Friday, January 21st. Royal Bank of Canada dropped their price target on Baker Hughes from $43.00 to $41.00 and set an “outperform” rating for the company in a research report on Thursday, April 21st. The Goldman Sachs Group cut Baker Hughes from a “conviction-buy” rating to a “buy” rating and set a $41.00 price objective for the company. in a research report on Tuesday, March 22nd. Finally, Bank of America reiterated a “buy” rating and set a $35.00 price objective (up previously from $33.00) on shares of Baker Hughes in a research report on Friday, January 21st. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Baker Hughes has a consensus rating of “Buy” and an average target price of $36.38.

BKR opened at $34.11 on Friday. The stock has a market capitalization of $35.05 billion, a price-to-earnings ratio of 103.37 and a beta of 1.52. Baker Hughes has a 12 month low of $19.23 and a 12 month high of $39.78. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.61 and a quick ratio of 1.15. The business has a 50-day moving average of $34.82 and a two-hundred day moving average of $29.12.

Baker Hughes (NYSE:BKRGet Rating) last released its quarterly earnings data on Wednesday, April 20th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.05). The firm had revenue of $4.84 billion during the quarter, compared to analyst estimates of $5.01 billion. Baker Hughes had a net margin of 1.49% and a return on equity of 3.51%. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.12 earnings per share. Equities research analysts anticipate that Baker Hughes will post 1.18 earnings per share for the current year.

In other news, SVP Kurt Camilleri sold 5,858 shares of Baker Hughes stock in a transaction dated Friday, April 22nd. The stock was sold at an average price of $33.52, for a total value of $196,360.16. Following the transaction, the senior vice president now directly owns 795 shares of the company’s stock, valued at approximately $26,648.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William G. Beattie sold 5,507 shares of the business’s stock in a transaction that occurred on Thursday, April 7th. The stock was sold at an average price of $35.69, for a total value of $196,544.83. Following the transaction, the director now directly owns 12,743 shares in the company, valued at $454,797.67. The disclosure for this sale can be found here. Insiders sold a total of 72,056,823 shares of company stock worth $2,482,348,921 over the last ninety days. Corporate insiders own 0.29% of the company’s stock.

Baker Hughes Company Profile (Get Rating)

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. It operates through four segments: Oilfield Services (OFS), Oilfield Equipment (OFE), Turbomachinery & Process Solutions (TPS), and Digital Solutions (DS). The OFS segment offers exploration, drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, wireline services, downhole completion tools and systems, wellbore intervention tools and services, pressure pumping systems, oilfield and industrial chemicals, and artificial lift technologies for oil and natural gas, and oilfield service companies.

See Also

Want to see what other hedge funds are holding BKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Baker Hughes (NYSE:BKRGet Rating).

Institutional Ownership by Quarter for Baker Hughes (NYSE:BKR)

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