27,998 Shares in Baker Hughes Company $BKR Acquired by Aureus Asset Management LLC

Aureus Asset Management LLC purchased a new stake in Baker Hughes Company (NASDAQ:BKR) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 27,998 shares of the company’s stock, valued at approximately $1,709,000.

Other hedge funds have also added to or reduced their stakes in the company. EFG International AG bought a new position in Baker Hughes during the fourth quarter worth $26,000. Cullen Frost Bankers Inc. raised its position in shares of Baker Hughes by 344.1% in the fourth quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company’s stock valued at $27,000 after purchasing an additional 468 shares during the period. Meeder Asset Management Inc. raised its position in shares of Baker Hughes by 49.0% in the first quarter. Meeder Asset Management Inc. now owns 651 shares of the company’s stock valued at $40,000 after purchasing an additional 214 shares during the period. Quarry LP acquired a new stake in shares of Baker Hughes during the 4th quarter worth about $31,000. Finally, MV Capital Management Inc. acquired a new stake in shares of Baker Hughes during the 4th quarter worth about $34,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Price Performance

Shares of Baker Hughes stock opened at $56.60 on Thursday. Baker Hughes Company has a twelve month low of $41.15 and a twelve month high of $70.41. The company has a quick ratio of 1.77, a current ratio of 2.13 and a debt-to-equity ratio of 0.79. The company has a 50-day simple moving average of $60.31 and a two-hundred day simple moving average of $59.85. The stock has a market capitalization of $56.15 billion, a price-to-earnings ratio of 18.08, a price-to-earnings-growth ratio of 2.35 and a beta of 0.96.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.09. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. The firm had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same quarter in the prior year, the business posted $0.51 EPS. The business’s revenue was up 2.5% compared to the same quarter last year. Analysts forecast that Baker Hughes Company will post 2.26 EPS for the current year.

Insider Buying and Selling

In related news, CEO Lorenzo Simonelli sold 181,411 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $58.43, for a total transaction of $10,599,844.73. Following the sale, the chief executive officer owned 703,444 shares of the company’s stock, valued at $41,102,232.92. This represents a 20.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Rebecca L. Charlton sold 5,088 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total value of $326,751.36. Following the transaction, the chief accounting officer owned 15,997 shares in the company, valued at approximately $1,027,327.34. This trade represents a 24.13% decrease in their position. 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. Over the last quarter, insiders sold 367,910 shares of company stock valued at $22,420,797. 0.19% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently commented on BKR shares. HSBC upped their price target on shares of Baker Hughes from $67.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Evercore restated an “outperform” rating and set a $76.00 price objective on shares of Baker Hughes in a research report on Monday, April 27th. TD Cowen boosted their price objective on Baker Hughes from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Capital One Financial upped their target price on Baker Hughes from $66.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, May 21st. Finally, BMO Capital Markets increased their target price on Baker Hughes from $70.00 to $80.00 and gave the stock an “outperform” rating in a research note on Monday, April 27th. Eighteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $70.00.

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.