Riverhead Capital Management LLC Increases Holdings in Baker Hughes A GE Co (NYSE:BHGE)

Riverhead Capital Management LLC grew its holdings in shares of Baker Hughes A GE Co (NYSE:BHGE) by 77.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,846 shares of the company’s stock after buying an additional 8,250 shares during the quarter. Riverhead Capital Management LLC’s holdings in Baker Hughes A GE were worth $464,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in BHGE. Centaurus Financial Inc. purchased a new stake in Baker Hughes A GE in the 1st quarter worth about $33,000. Bremer Bank National Association purchased a new stake in Baker Hughes A GE in the 1st quarter worth about $38,000. Perkins Coie Trust Co raised its position in Baker Hughes A GE by 38.3% in the 2nd quarter. Perkins Coie Trust Co now owns 1,637 shares of the company’s stock worth $40,000 after purchasing an additional 453 shares during the period. Quantamental Technologies LLC purchased a new stake in Baker Hughes A GE in the 1st quarter worth about $47,000. Finally, YorkBridge Wealth Partners LLC purchased a new stake in Baker Hughes A GE in the 1st quarter worth about $59,000. Hedge funds and other institutional investors own 48.39% of the company’s stock.

Shares of NYSE BHGE traded up $0.39 during midday trading on Thursday, reaching $22.68. 55,948,610 shares of the company’s stock traded hands, compared to its average volume of 4,562,791. The company has a market cap of $25.10 billion, a price-to-earnings ratio of 34.36, a P/E/G ratio of 3.08 and a beta of 0.96. Baker Hughes A GE Co has a one year low of $20.09 and a one year high of $34.49. The company has a quick ratio of 1.09, a current ratio of 1.60 and a debt-to-equity ratio of 0.18. The stock’s 50 day simple moving average is $22.90 and its 200-day simple moving average is $24.39.



Baker Hughes A GE (NYSE:BHGE) last announced its earnings results on Wednesday, July 31st. The company reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.01. The company had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.81 billion. Baker Hughes A GE had a net margin of 0.71% and a return on equity of 1.07%. Baker Hughes A GE’s revenue was up 8.0% compared to the same quarter last year. During the same period last year, the firm earned $0.10 earnings per share. Equities analysts predict that Baker Hughes A GE Co will post 0.98 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Tuesday, August 13th were issued a $0.18 dividend. The ex-dividend date was Monday, August 12th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.18%. Baker Hughes A GE’s dividend payout ratio is currently 109.09%.

In related news, insider Uwem Ukpong sold 16,686 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $23.62, for a total transaction of $394,123.32. Following the completion of the transaction, the insider now owns 271 shares of the company’s stock, valued at $6,401.02. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John G. Rice bought 10,000 shares of Baker Hughes A GE stock in a transaction that occurred on Friday, August 16th. The shares were acquired at an average cost of $20.75 per share, with a total value of $207,500.00. Following the acquisition, the director now owns 15,000 shares of the company’s stock, valued at $311,250. The disclosure for this purchase can be found here. Company insiders own 0.21% of the company’s stock.

A number of analysts recently weighed in on BHGE shares. Wells Fargo & Co reduced their price objective on shares of Baker Hughes A GE from $31.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday. AltaCorp Capital reissued an “outperform” rating on shares of Baker Hughes A GE in a research report on Thursday, June 20th. Jefferies Financial Group set a $32.00 price objective on shares of Baker Hughes A GE and gave the stock a “buy” rating in a research report on Thursday, June 6th. TheStreet raised shares of Baker Hughes A GE from a “d+” rating to a “c-” rating in a research report on Thursday, June 20th. Finally, Credit Suisse Group increased their price objective on shares of Baker Hughes A GE from $27.00 to $28.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $34.87.

About Baker Hughes A GE

Baker Hughes, a GE company provides integrated oilfield products, services, and digital solutions worldwide. Its Oilfield Services segment offers drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, completions tools and systems, wellbore intervention tools and services, artificial lift systems, pressure pumping systems, and oilfield and industrial chemicals for integrated oil and natural gas, and oilfield service companies.

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Institutional Ownership by Quarter for Baker Hughes A GE (NYSE:BHGE)

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