Picton Mahoney Asset Management Purchases 111,534 Shares of Baker Hughes Company $BKR

Picton Mahoney Asset Management grew its position in Baker Hughes Company (NASDAQ:BKR) by 328,041.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 111,568 shares of the company’s stock after purchasing an additional 111,534 shares during the quarter. Picton Mahoney Asset Management’s holdings in Baker Hughes were worth $5,437,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in BKR. Woodline Partners LP increased its position in Baker Hughes by 40.8% during the 1st quarter. Woodline Partners LP now owns 83,650 shares of the company’s stock worth $3,676,000 after buying an additional 24,225 shares during the period. Focus Partners Wealth boosted its position in shares of Baker Hughes by 5.6% in the first quarter. Focus Partners Wealth now owns 18,481 shares of the company’s stock valued at $812,000 after acquiring an additional 986 shares during the period. Assetmark Inc. grew its stake in shares of Baker Hughes by 16.4% in the second quarter. Assetmark Inc. now owns 31,275 shares of the company’s stock valued at $1,199,000 after acquiring an additional 4,395 shares in the last quarter. Sigma Planning Corp acquired a new position in shares of Baker Hughes in the second quarter valued at about $359,000. Finally, Moors & Cabot Inc. increased its position in Baker Hughes by 1.9% during the second quarter. Moors & Cabot Inc. now owns 56,320 shares of the company’s stock worth $2,159,000 after acquiring an additional 1,054 shares during the period. 92.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. iA Financial set a $60.00 target price on shares of Baker Hughes in a research report on Tuesday, January 27th. Argus boosted their price target on Baker Hughes from $55.00 to $67.00 in a research note on Tuesday, January 27th. Wall Street Zen raised Baker Hughes from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Citigroup lifted their price objective on Baker Hughes from $61.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, January 27th. Finally, UBS Group upped their target price on Baker Hughes from $54.00 to $61.00 and gave the company a “neutral” rating in a research report on Wednesday, January 28th. Twenty investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $59.61.

Baker Hughes Stock Down 2.7%

Shares of BKR opened at $60.88 on Thursday. The firm has a 50 day simple moving average of $55.55 and a two-hundred day simple moving average of $50.08. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.36 and a quick ratio of 1.00. Baker Hughes Company has a one year low of $33.60 and a one year high of $67.00. The company has a market cap of $60.16 billion, a P/E ratio of 23.42, a P/E/G ratio of 1.69 and a beta of 0.83.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Monday, January 26th. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.11. Baker Hughes had a return on equity of 14.26% and a net margin of 9.33%.The firm had revenue of $7.39 billion for the quarter, compared to the consensus estimate of $7.09 billion. During the same quarter last year, the business posted $0.70 EPS. The company’s revenue was up .3% compared to the same quarter last year. Research analysts forecast that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Tuesday, February 17th. Baker Hughes’s payout ratio is currently 35.38%.

Insiders Place Their Bets

In other news, Director William G. Beattie sold 18,023 shares of the stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $57.29, for a total value of $1,032,537.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Maria Georgia Magno sold 19,150 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $59.11, for a total transaction of $1,131,956.50. Following the completion of the sale, the insider owned 14,588 shares in the company, valued at approximately $862,296.68. The trade was a 56.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 40,001 shares of company stock valued at $2,322,692. 0.27% of the stock is currently owned by corporate insiders.

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.