80,640 Shares in Baker Hughes (NASDAQ:BKR) Bought by Valicenti Advisory Services Inc.

Valicenti Advisory Services Inc. bought a new position in shares of Baker Hughes (NASDAQ:BKR) in the 4th quarter, HoldingsChannel.com reports. The firm bought 80,640 shares of the company’s stock, valued at approximately $3,308,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Ashton Thomas Securities LLC purchased a new position in shares of Baker Hughes during the third quarter worth about $30,000. True Wealth Design LLC raised its stake in Baker Hughes by 2,181.6% in the third quarter. True Wealth Design LLC now owns 867 shares of the company’s stock valued at $31,000 after purchasing an additional 829 shares in the last quarter. Groupama Asset Managment lifted its position in Baker Hughes by 1,045.1% during the third quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock valued at $32,000 after purchasing an additional 811,711 shares during the last quarter. Continuum Advisory LLC grew its stake in Baker Hughes by 442.2% in the 3rd quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock worth $35,000 after buying an additional 796 shares in the last quarter. Finally, Quarry LP increased its holdings in shares of Baker Hughes by 81.1% in the 2nd quarter. Quarry LP now owns 1,594 shares of the company’s stock worth $56,000 after buying an additional 714 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the business’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $44.77, for a total transaction of $358,160.00. Following the transaction, the executive vice president now directly owns 173,302 shares of the company’s stock, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BKR. Morgan Stanley lifted their price objective on shares of Baker Hughes from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, October 3rd. Citigroup upped their price objective on Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Barclays increased their price objective on Baker Hughes from $46.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Wells Fargo & Company boosted their target price on Baker Hughes from $42.00 to $49.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, Atb Cap Markets downgraded shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $48.06.

Baker Hughes Stock Performance

Baker Hughes stock opened at $43.65 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The firm has a market cap of $43.19 billion, a P/E ratio of 19.57, a P/E/G ratio of 0.88 and a beta of 1.39. Baker Hughes has a 1-year low of $28.32 and a 1-year high of $47.47. The firm has a 50-day moving average of $43.03 and a 200-day moving average of $38.94.

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.