Caxton Associates LP Acquires Shares of 400,000 Baker Hughes (NASDAQ:BKR)

Caxton Associates LP acquired a new stake in Baker Hughes (NASDAQ:BKRFree Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 400,000 shares of the company’s stock, valued at approximately $13,672,000.

Several other large investors also recently bought and sold shares of BKR. Louisiana State Employees Retirement System purchased a new position in shares of Baker Hughes during the 4th quarter valued at approximately $4,813,000. Nordea Investment Management AB boosted its stake in shares of Baker Hughes by 731.1% during the 4th quarter. Nordea Investment Management AB now owns 1,458,833 shares of the company’s stock valued at $49,732,000 after buying an additional 1,283,296 shares during the last quarter. Cibc World Markets Corp boosted its stake in shares of Baker Hughes by 59.4% during the 4th quarter. Cibc World Markets Corp now owns 274,046 shares of the company’s stock valued at $9,367,000 after buying an additional 102,174 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Baker Hughes by 12.0% during the 3rd quarter. Wellington Management Group LLP now owns 905,513 shares of the company’s stock valued at $31,983,000 after buying an additional 97,108 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of Baker Hughes by 101.4% during the 4th quarter. Russell Investments Group Ltd. now owns 2,383,918 shares of the company’s stock valued at $81,484,000 after buying an additional 1,200,407 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on BKR shares. UBS Group increased their target price on Baker Hughes from $35.00 to $36.00 in a research note on Tuesday, April 23rd. Susquehanna restated a “positive” rating and set a $40.00 price objective on shares of Baker Hughes in a research note on Monday, April 8th. Morgan Stanley raised their price objective on Baker Hughes from $40.00 to $43.00 in a research note on Tuesday, April 23rd. The Goldman Sachs Group raised their price objective on Baker Hughes from $36.00 to $38.00 in a research note on Tuesday, April 23rd. Finally, Benchmark restated a “buy” rating and set a $40.00 price objective on shares of Baker Hughes in a research note on Wednesday, April 24th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $41.13.

Get Our Latest Analysis on BKR

Baker Hughes Stock Performance

Shares of BKR traded down $0.27 during trading hours on Tuesday, reaching $32.17. 1,197,397 shares of the company’s stock traded hands, compared to its average volume of 7,955,562. The firm has a market capitalization of $32.11 billion, a price-to-earnings ratio of 17.96, a P/E/G ratio of 0.54 and a beta of 1.43. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.25 and a quick ratio of 0.84. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $37.58. The business’s fifty day simple moving average is $32.69 and its two-hundred day simple moving average is $32.04.

Baker Hughes (NASDAQ:BKRGet Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. The company 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 company’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 earnings per share. Analysts predict that Baker Hughes will post 2.08 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 6th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend was Friday, May 3rd. Baker Hughes’s payout ratio is currently 46.93%.

Insider Buying and Selling

In related news, SVP James E. Apostolides sold 5,000 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $33.88, for a total value of $169,400.00. Following the completion of the transaction, the senior vice president now owns 14,998 shares in the company, valued at approximately $508,132.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Baker Hughes news, SVP James E. Apostolides sold 5,000 shares of the firm’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $33.88, for a total transaction of $169,400.00. Following the completion of the sale, the senior vice president now directly owns 14,998 shares in the company, valued at approximately $508,132.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $1,791,360.00. Following the sale, the executive vice president now owns 92,035 shares of the company’s stock, valued at $2,945,120. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

Baker Hughes Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Baker Hughes (NASDAQ:BKR)

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