Stephens Investment Management Group LLC Has $13.35 Million Stock Position in Baker Hughes Company $BKR

Stephens Investment Management Group LLC lowered its position in shares of Baker Hughes Company (NASDAQ:BKR) by 18.2% in the second quarter, Holdings Channel reports. The institutional investor owned 348,294 shares of the company’s stock after selling 77,241 shares during the period. Stephens Investment Management Group LLC’s holdings in Baker Hughes were worth $13,354,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Brookstone Capital Management raised its stake in Baker Hughes by 4.9% in the second quarter. Brookstone Capital Management now owns 48,399 shares of the company’s stock valued at $1,856,000 after purchasing an additional 2,245 shares in the last quarter. Retirement Planning Group LLC raised its stake in Baker Hughes by 9.9% in the second quarter. Retirement Planning Group LLC now owns 8,188 shares of the company’s stock valued at $314,000 after purchasing an additional 739 shares in the last quarter. D.A. Davidson & CO. raised its stake in Baker Hughes by 6.2% in the second quarter. D.A. Davidson & CO. now owns 54,839 shares of the company’s stock valued at $2,103,000 after purchasing an additional 3,201 shares in the last quarter. Blume Capital Management Inc. raised its stake in Baker Hughes by 0.3% in the second quarter. Blume Capital Management Inc. now owns 168,096 shares of the company’s stock valued at $6,445,000 after purchasing an additional 510 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in Baker Hughes by 2.5% in the second quarter. DekaBank Deutsche Girozentrale now owns 430,839 shares of the company’s stock valued at $16,379,000 after purchasing an additional 10,335 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Stock Performance

Shares of BKR stock opened at $47.30 on Thursday. The business’s 50 day simple moving average is $46.33 and its 200 day simple moving average is $41.51. Baker Hughes Company has a one year low of $33.60 and a one year high of $50.92. The stock has a market capitalization of $46.63 billion, a PE ratio of 15.46, a PEG ratio of 2.02 and a beta of 0.99. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Friday, November 18th. The company reported $0.16 EPS for the quarter. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%.The business had revenue of $5.09 billion for the quarter. As a group, research analysts forecast that Baker Hughes Company will post 2.59 earnings per share for the current year.

Insider Activity at Baker Hughes

In related news, CAO Rebecca L. Charlton sold 1,000 shares of the business’s stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total transaction of $50,000.00. Following the transaction, the chief accounting officer owned 11,772 shares in the company, valued at $588,600. The trade was a 7.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Sreeganesh Ramaswamy sold 25,000 shares of the business’s stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total transaction of $1,250,000.00. Following the transaction, the executive vice president owned 40,520 shares in the company, valued at $2,026,000. The trade was a 38.16% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. BMO Capital Markets reissued an “outperform” rating and set a $53.00 target price (up previously from $46.00) on shares of Baker Hughes in a research note on Wednesday, July 30th. Melius Research assumed coverage on Baker Hughes in a research note on Wednesday, August 20th. They set a “buy” rating and a $60.00 target price for the company. Evercore ISI boosted their target price on Baker Hughes from $53.00 to $55.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. TD Cowen boosted their target price on Baker Hughes from $52.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Finally, Industrial Alliance Securities set a $53.00 target price on Baker Hughes in a research note on Wednesday, July 30th. Twenty-two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Baker Hughes presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.91.

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.