Aureus Asset Management LLC Makes New Investment in Baker Hughes Company $BKR

Aureus Asset Management LLC acquired a new stake in Baker Hughes Company (NASDAQ:BKR) during the first quarter, according to its most recent filing with the SEC. The firm acquired 27,998 shares of the company’s stock, valued at approximately $1,709,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in BKR. Pinion Investment Advisors LLC bought a new position in shares of Baker Hughes in the 4th quarter valued at about $778,000. OP Asset Management Ltd acquired a new position in Baker Hughes in the first quarter valued at approximately $6,049,000. USA Financial Formulas acquired a new position in Baker Hughes in the fourth quarter valued at approximately $830,000. Ninety One UK Ltd boosted its stake in Baker Hughes by 28.6% in the fourth quarter. Ninety One UK Ltd now owns 469,329 shares of the company’s stock valued at $21,373,000 after acquiring an additional 104,428 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Baker Hughes by 17.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 484,310 shares of the company’s stock worth $22,055,000 after acquiring an additional 72,714 shares during the period. Institutional investors own 92.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Stifel Nicolaus increased their price target on Baker Hughes from $63.00 to $74.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Royal Bank Of Canada upped their price objective on Baker Hughes from $68.00 to $71.00 and gave the company an “outperform” rating in a report on Monday, April 27th. Citigroup increased their target price on Baker Hughes from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. BMO Capital Markets raised their target price on Baker Hughes from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, April 27th. Finally, Barclays decreased their target price on Baker Hughes from $74.00 to $72.00 and set an “equal weight” rating for the company in a research report on Thursday, July 16th. Eighteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $70.00.

Baker Hughes Trading Up 0.4%

NASDAQ BKR opened at $56.60 on Thursday. Baker Hughes Company has a one year low of $41.15 and a one year high of $70.41. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.13 and a quick ratio of 1.77. The firm has a market cap of $56.15 billion, a P/E ratio of 18.08, a P/E/G ratio of 2.35 and a beta of 0.96. The stock’s 50-day moving average is $60.31 and its 200-day moving average is $59.85.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.49 by $0.09. The business had revenue of $6.59 billion for the quarter, compared to analysts’ expectations of $6.71 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.51 EPS. Sell-side analysts anticipate that Baker Hughes Company will post 2.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Lorenzo Simonelli sold 181,411 shares of the stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $58.43, for a total transaction of $10,599,844.73. Following the completion of the transaction, the chief executive officer owned 703,444 shares in the company, valued at approximately $41,102,232.92. This represents a 20.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Rebecca L. Charlton sold 5,088 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total transaction of $326,751.36. Following the transaction, the chief accounting officer owned 15,997 shares of the company’s stock, valued at approximately $1,027,327.34. This represents a 24.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 367,910 shares of company stock valued at $22,420,797. Insiders own 0.19% of the company’s stock.

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.