MQS Management LLC purchased a new stake in Baker Hughes (NASDAQ:BKR – Free Report) 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.
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.
Check Out Our Latest Analysis on Baker Hughes
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.
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