MQS Management LLC Takes $345,000 Position in Baker Hughes (NASDAQ:BKR)

MQS Management LLC purchased a new stake in Baker Hughes (NASDAQ:BKR) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,313 shares of the company’s stock, valued at approximately $345,000.

Other large investors have also made changes to their positions in the company. Louisiana State Employees Retirement System purchased a new stake in shares of Baker Hughes in the fourth quarter valued at approximately $4,813,000. Twin Tree Management LP grew its position in shares of Baker Hughes by 183.0% in the first quarter. Twin Tree Management LP now owns 338,738 shares of the company’s stock valued at $11,348,000 after purchasing an additional 219,060 shares in the last quarter. Cibc World Markets Corp grew its position in shares of Baker Hughes by 59.4% in the fourth quarter. Cibc World Markets Corp now owns 274,046 shares of the company’s stock valued at $9,367,000 after purchasing an additional 102,174 shares in the last quarter. Caxton Associates LP purchased a new stake in shares of Baker Hughes in the fourth quarter valued at approximately $13,672,000. Finally, Russell Investments Group Ltd. grew its position in shares of Baker Hughes by 101.4% in the fourth quarter. Russell Investments Group Ltd. now owns 2,383,918 shares of the company’s stock valued at $81,484,000 after purchasing an additional 1,200,407 shares in the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Baker Hughes Stock Up 1.9 %

NASDAQ:BKR traded up $0.68 during trading hours on Thursday, hitting $35.58. The company’s stock had a trading volume of 7,019,875 shares, compared to its average volume of 7,542,250. The stock has a market capitalization of $35.51 billion, a P/E ratio of 19.88, a price-to-earnings-growth ratio of 0.61 and a beta of 1.41. The stock has a fifty day moving average of $33.55 and a 200-day moving average of $32.20. The company has a current ratio of 1.25, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $37.58.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.08. The company had revenue of $7.10 billion for the quarter, compared to analyst estimates of $6.81 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 12.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.39 earnings per share. On average, equities analysts forecast that Baker Hughes will post 2.09 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Morgan Stanley increased their price objective on Baker Hughes from $40.00 to $43.00 in a research report on Tuesday, April 23rd. The Goldman Sachs Group increased their price objective on Baker Hughes from $36.00 to $38.00 in a research report on Tuesday, April 23rd. Susquehanna reiterated a “positive” rating and issued a $40.00 price objective on shares of Baker Hughes in a research report on Monday, April 8th. Benchmark reiterated a “buy” rating and issued a $40.00 price objective on shares of Baker Hughes in a research report on Wednesday, April 24th. Finally, UBS Group increased their price objective on Baker Hughes from $35.00 to $36.00 in a research report on Tuesday, April 23rd. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $40.92.

Insider Buying and Selling

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

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.