Edgestream Partners L.P. Buys 19,320 Shares of Baker Hughes (NASDAQ:BKR)

Edgestream Partners L.P. boosted its stake in Baker Hughes (NASDAQ:BKR) by 126.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,578 shares of the company’s stock after purchasing an additional 19,320 shares during the quarter. Edgestream Partners L.P.’s holdings in Baker Hughes were worth $1,158,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in BKR. Norges Bank purchased a new stake in shares of Baker Hughes in the 4th quarter valued at about $551,555,000. Cardano Risk Management B.V. purchased a new stake in shares of Baker Hughes in the 1st quarter valued at about $117,083,000. Goldman Sachs Group Inc. raised its holdings in shares of Baker Hughes by 47.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 5,635,875 shares of the company’s stock valued at $192,634,000 after acquiring an additional 1,822,487 shares in the last quarter. Alphinity Investment Management Pty Ltd raised its holdings in shares of Baker Hughes by 348.2% in the 4th quarter. Alphinity Investment Management Pty Ltd now owns 2,324,511 shares of the company’s stock valued at $79,452,000 after acquiring an additional 1,805,870 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Baker Hughes by 19.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,669,307 shares of the company’s stock valued at $296,319,000 after acquiring an additional 1,395,083 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Trading Up 0.4 %

BKR traded up $0.13 on Tuesday, hitting $35.79. 313,302 shares of the company were exchanged, compared to its average volume of 7,538,173. The firm has a fifty day simple moving average of $33.40 and a two-hundred day simple moving average of $32.14. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.25. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $37.58. The stock has a market capitalization of $35.72 billion, a PE ratio of 19.92, a price-to-earnings-growth ratio of 0.62 and a beta of 1.41.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. The firm had revenue of $6.42 billion for 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 business’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period last year, the company earned $0.28 EPS. Sell-side analysts expect that Baker Hughes will post 2.09 earnings per share for the current year.

Insider Transactions at Baker Hughes

In other news, EVP Maria C. Borras sold 55,980 shares of Baker Hughes stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $32.00, for a total value of $1,791,360.00. Following the sale, the executive vice president now directly owns 92,035 shares in the company, valued at approximately $2,945,120. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on BKR. The Goldman Sachs Group raised their price target on Baker Hughes from $36.00 to $38.00 in a report on Tuesday, April 23rd. Morgan Stanley raised their price objective on Baker Hughes from $40.00 to $43.00 in a report on Tuesday, April 23rd. UBS Group raised their price objective on Baker Hughes from $35.00 to $36.00 in a report on Tuesday, April 23rd. Susquehanna reissued a “positive” rating and set a $40.00 price objective on shares of Baker Hughes in a report on Monday, April 8th. Finally, Jefferies Financial Group raised their price objective on Baker Hughes from $45.00 to $46.00 and gave the company a “buy” rating in a report on Friday, June 28th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Baker Hughes currently has an average rating of “Moderate Buy” and a consensus target price of $40.92.

Baker Hughes Company Profile

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.