AlphaCrest Capital Management LLC Increases Stake in Baker Hughes (NYSE:BKR)

AlphaCrest Capital Management LLC boosted its holdings in shares of Baker Hughes (NYSE:BKR – Get Rating) by 4.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 49,367 shares of the company’s stock after buying an additional 1,949 shares during the quarter. AlphaCrest Capital Management LLC’s holdings in Baker Hughes were worth $1,188,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of BKR. Morgan Stanley raised its position in Baker Hughes by 102.8% during the 2nd quarter. Morgan Stanley now owns 3,191,128 shares of the company’s stock worth $72,982,000 after buying an additional 1,617,591 shares during the last quarter. Advisor Group Holdings Inc. grew its stake in Baker Hughes by 49.3% in the 3rd quarter. Advisor Group Holdings Inc. now owns 45,467 shares of the company’s stock valued at $1,124,000 after acquiring an additional 15,020 shares during the period. Ieq Capital LLC acquired a new stake in Baker Hughes in the 3rd quarter valued at $220,000. JustInvest LLC acquired a new stake in Baker Hughes in the 3rd quarter valued at $268,000. Finally, Boston Private Wealth LLC grew its stake in Baker Hughes by 10.1% in the 3rd quarter. Boston Private Wealth LLC now owns 14,547 shares of the company’s stock valued at $359,000 after acquiring an additional 1,329 shares during the period. 92.83% of the stock is owned by institutional investors.

In other Baker Hughes news, Director William G. Beattie sold 5,507 shares of Baker Hughes stock in a transaction dated Thursday, April 7th. The stock was sold at an average price of $35.69, for a total value of $196,544.83. Following the completion of the transaction, the director now directly owns 12,743 shares of the company’s stock, valued at approximately $454,797.67. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Maria C. Borras sold 19,632 shares of Baker Hughes stock in a transaction dated Thursday, March 10th. The shares were sold at an average price of $33.94, for a total value of $666,310.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 72,056,823 shares of company stock valued at $2,482,348,921. 0.29% of the stock is currently owned by corporate insiders.

A number of research firms recently issued reports on BKR. UBS Group lifted their price target on shares of Baker Hughes from $28.00 to $43.00 and gave the company a “buy” rating in a research note on Friday, March 18th. Bank of America reaffirmed a “buy” rating and set a $35.00 target price (up previously from $33.00) on shares of Baker Hughes in a research note on Friday, January 21st. Morgan Stanley lifted their target price on shares of Baker Hughes from $32.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, April 11th. Barclays lifted their target price on shares of Baker Hughes from $31.00 to $40.00 in a research note on Wednesday, April 27th. Finally, Wells Fargo & Company raised shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $28.00 to $43.00 in a research note on Thursday, March 31st. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Baker Hughes currently has a consensus rating of “Buy” and an average price target of $36.38.

Shares of BKR opened at $34.11 on Friday. The firm has a market cap of $35.05 billion, a P/E ratio of 103.37 and a beta of 1.52. Baker Hughes has a 12-month low of $19.23 and a 12-month high of $39.78. The company’s 50-day moving average price is $34.82 and its 200 day moving average price is $29.12. The company has a current ratio of 1.61, a quick ratio of 1.15 and a debt-to-equity ratio of 0.40.

Baker Hughes (NYSE:BKR – Get Rating) last issued its quarterly earnings data on Wednesday, April 20th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.05). The company had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $5.01 billion. Baker Hughes had a net margin of 1.49% and a return on equity of 3.51%. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.12 earnings per share. Equities research analysts forecast that Baker Hughes will post 1.18 earnings per share for the current year.

Baker Hughes Company Profile (Get Rating)

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. It operates through four segments: Oilfield Services (OFS), Oilfield Equipment (OFE), Turbomachinery & Process Solutions (TPS), and Digital Solutions (DS). The OFS segment offers exploration, drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, wireline services, downhole completion tools and systems, wellbore intervention tools and services, pressure pumping systems, oilfield and industrial chemicals, and artificial lift technologies for oil and natural gas, and oilfield service companies.

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