Stevens Capital Management LP Purchases New Holdings in Baker Hughes Company $BKR

Stevens Capital Management LP acquired a new position in Baker Hughes Company (NASDAQ:BKR) in the 3rd quarter, HoldingsChannel reports. The fund acquired 12,176 shares of the company’s stock, valued at approximately $593,000.

A number of other hedge funds have also recently modified their holdings of the business. Brandywine Global Investment Management LLC lifted its position in Baker Hughes by 8.2% during the second quarter. Brandywine Global Investment Management LLC now owns 648,149 shares of the company’s stock valued at $24,850,000 after acquiring an additional 49,108 shares during the last quarter. Synergy Asset Management LLC acquired a new position in shares of Baker Hughes during the third quarter worth $1,920,000. Cibc World Market Inc. increased its position in shares of Baker Hughes by 13.6% during the third quarter. Cibc World Market Inc. now owns 829,816 shares of the company’s stock worth $40,429,000 after purchasing an additional 99,314 shares in the last quarter. California Public Employees Retirement System lifted its holdings in shares of Baker Hughes by 8.7% during the 2nd quarter. California Public Employees Retirement System now owns 1,800,362 shares of the company’s stock valued at $69,026,000 after purchasing an additional 144,381 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of Baker Hughes by 23.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 458,415 shares of the company’s stock worth $22,334,000 after purchasing an additional 88,536 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on BKR. TD Cowen increased their price target on Baker Hughes from $55.00 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, January 27th. UBS Group boosted their target price on shares of Baker Hughes from $54.00 to $61.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 28th. Wall Street Zen upgraded shares of Baker Hughes from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Susquehanna raised their price objective on Baker Hughes from $58.00 to $65.00 and gave the stock a “positive” rating in a research note on Tuesday, January 27th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $57.00 price target on shares of Baker Hughes in a report on Thursday, January 15th. Nineteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $59.00.

Insider Transactions at Baker Hughes

In other news, Director William G. Beattie sold 18,023 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $57.29, for a total transaction of $1,032,537.67. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Rebecca L. Charlton sold 1,985 shares of the business’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $55.77, for a total transaction of $110,703.45. Following the completion of the sale, the chief accounting officer directly owned 12,052 shares of the company’s stock, valued at approximately $672,140.04. The trade was a 14.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 40,001 shares of company stock valued at $2,322,692 in the last three months. 0.27% of the stock is currently owned by company insiders.

Baker Hughes Stock Down 0.6%

Shares of BKR stock opened at $62.21 on Friday. The stock has a 50 day moving average of $52.57 and a 200 day moving average of $48.91. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 0.28. The stock has a market cap of $61.48 billion, a P/E ratio of 23.93, a P/E/G ratio of 1.67 and a beta of 0.89. Baker Hughes Company has a twelve month low of $33.60 and a twelve month high of $62.75.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Monday, January 26th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.11. The firm had revenue of $7.39 billion during the quarter, compared to analyst estimates of $7.09 billion. Baker Hughes had a net margin of 9.33% and a return on equity of 14.26%. The business’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.70 EPS. As a group, sell-side analysts expect that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Tuesday, February 17th. Baker Hughes’s dividend payout ratio (DPR) is presently 35.38%.

Baker Hughes Company Profile

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm’s roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE’s oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.