Biltmore Wealth Management LLC Has $252,000 Holdings in Baker Hughes (NYSE:BKR)

Biltmore Wealth Management LLC reduced its position in Baker Hughes (NYSE:BKR) by 4.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,393 shares of the company’s stock after selling 826 shares during the period. Biltmore Wealth Management LLC’s holdings in Baker Hughes were worth $252,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Avantax Advisory Services Inc. increased its position in Baker Hughes by 12.0% in the 3rd quarter. Avantax Advisory Services Inc. now owns 13,193 shares of the company’s stock worth $173,000 after purchasing an additional 1,417 shares during the last quarter. Boston Trust Walden Corp bought a new stake in shares of Baker Hughes during the 3rd quarter worth about $3,857,000. DNB Asset Management AS boosted its stake in Baker Hughes by 6.4% during the 3rd quarter. DNB Asset Management AS now owns 110,638 shares of the company’s stock valued at $1,470,000 after purchasing an additional 6,613 shares during the period. Signature Estate & Investment Advisors LLC boosted its stake in Baker Hughes by 11.2% during the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 86,537 shares of the company’s stock valued at $1,151,000 after purchasing an additional 8,703 shares during the period. Finally, Scout Investments Inc. boosted its stake in Baker Hughes by 12.8% during the 3rd quarter. Scout Investments Inc. now owns 2,253,834 shares of the company’s stock valued at $29,953,000 after purchasing an additional 256,227 shares during the period. 95.87% of the stock is currently owned by institutional investors.

In other news, CEO Lorenzo Simonelli purchased 71,275 shares of the company’s stock in a transaction on Wednesday, September 2nd. The shares were purchased at an average price of $14.12 per share, with a total value of $1,006,403.00. Following the purchase, the chief executive officer now directly owns 287,096 shares of the company’s stock, valued at approximately $4,053,795.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.21% of the company’s stock.

A number of research firms recently weighed in on BKR. BMO Capital Markets began coverage on Baker Hughes in a report on Thursday, October 1st. They set a “market perform” rating and a $16.00 price target for the company. 140166 raised their price target on Baker Hughes from $19.00 to $22.00 in a report on Thursday, July 23rd. Exane BNP Paribas began coverage on Baker Hughes in a report on Monday, October 12th. They set an “outperform” rating and a $18.00 price target for the company. Zacks Investment Research cut Baker Hughes from a “hold” rating to a “sell” rating and set a $14.00 price target for the company. in a report on Monday, October 5th. Finally, Morgan Stanley increased their price objective on Baker Hughes from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eighteen have issued a buy rating to the stock. Baker Hughes has a consensus rating of “Buy” and an average price target of $17.80.

BKR stock opened at $13.14 on Friday. The business’s 50-day moving average price is $13.86 and its two-hundred day moving average price is $14.73. The company has a current ratio of 1.47, a quick ratio of 1.03 and a debt-to-equity ratio of 0.39. The firm has a market cap of $13.58 billion, a PE ratio of -0.83, a P/E/G ratio of 5.16 and a beta of 1.67. Baker Hughes has a 1-year low of $9.12 and a 1-year high of $25.99.

Baker Hughes (NYSE:BKR) last posted its earnings results on Wednesday, July 22nd. The company reported ($0.05) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.04). Baker Hughes had a positive return on equity of 1.27% and a negative net margin of 46.03%. The business had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.69 billion. On average, analysts forecast that Baker Hughes will post 0.22 earnings per share for the current year.

Baker Hughes Profile

Baker Hughes Company provides a portfolio of technologies and services worldwide. The company operates through four segments: Oilfield Services (OFS), Oilfield Equipment (OFE), Turbomachinery & Process Solutions (TPS), and Digital Solutions (DS). The OFS 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 oil and natural gas, and oilfield service companies.

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

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