KBC Group NV Boosts Stake in Baker Hughes (NASDAQ:BKR)

KBC Group NV increased its position in shares of Baker Hughes (NASDAQ:BKR) by 255.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 253,279 shares of the company’s stock after buying an additional 182,099 shares during the quarter. KBC Group NV’s holdings in Baker Hughes were worth $10,390,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in BKR. Stonehage Fleming Financial Services Holdings Ltd increased its holdings in shares of Baker Hughes by 15.0% in the 4th quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 17,745 shares of the company’s stock valued at $728,000 after acquiring an additional 2,309 shares during the period. Vista Investment Partners LLC acquired a new position in Baker Hughes in the fourth quarter valued at $321,000. Geneos Wealth Management Inc. raised its holdings in shares of Baker Hughes by 3.6% in the fourth quarter. Geneos Wealth Management Inc. now owns 120,280 shares of the company’s stock valued at $4,934,000 after buying an additional 4,125 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of Baker Hughes by 3.2% during the fourth quarter. Fifth Third Bancorp now owns 42,899 shares of the company’s stock worth $1,760,000 after buying an additional 1,321 shares during the period. Finally, Gradient Investments LLC purchased a new position in shares of Baker Hughes during the fourth quarter worth about $13,316,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Insider Buying and Selling at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of the business’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the transaction, the executive vice president now directly owns 173,302 shares of the company’s stock, valued at $7,758,730.54. The trade was a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on BKR shares. Argus raised Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Bank of America increased their price target on Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Barclays boosted their price objective on shares of Baker Hughes from $46.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. BMO Capital Markets raised their target price on shares of Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Finally, Wells Fargo & Company boosted their price target on shares of Baker Hughes from $42.00 to $49.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, Baker Hughes presently has a consensus rating of “Moderate Buy” and an average price target of $48.06.

Baker Hughes Price Performance

Baker Hughes stock opened at $43.07 on Thursday. The firm has a market capitalization of $42.62 billion, a PE ratio of 19.31, a P/E/G ratio of 0.88 and a beta of 1.39. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $47.47. The firm’s 50-day simple moving average is $43.03 and its 200 day simple moving average is $38.94. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37.

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.