Arosa Capital Management Lp decreased its stake in Baker Hughes Inc (NYSE:BHI) by 93.44% based on its latest Q4 2015 regulatory filing with the SEC. Arosa Capital Management Lp sold 1.07 million shares as the company’s stock declined 9.83% while stock markets rallied. The institutional investor held 75,000 shares of the metal fabrications company at the end of Q4, valued at $3.46M, down from 1.14 million at the end of the previous reported quarter. Arosa Capital Management Lp who had been investing in Baker Hughes Inc since many months, could be less bullish the $19.55 billion market cap company. The stock is up 1.38% or $0.6 hitting $43.97, despite the negative news. About 64,007 shares traded hands. Baker Hughes Incorporated (NYSE:BHI) has declined 5.22% since August 24, 2015 and is downtrending. It has underperformed by 14.24% the S&P500.
Arosa Capital Management Lp is a New York-based institutional investor with more than $456.37 million AUM in March, 2014. Taken from Arosa Capital Management latest Adv, the fund reported to have 10 full and part-time employees. Among which 6 performing investment advisory and research functions. The institutional investor had between 1-10 clients.
The institutional sentiment decreased to 0.72 in Q3 2015. Its down 0.14, from 0.86 in 2015Q2. The ratio fall, as 101 funds sold all BHI shares owned while 251 reduced positions. 36 funds bought stakes while 216 increased positions. They now own 393.05 million shares or 2.79% more from 382.37 million shares in 2015Q2.
Blackthorn Investment Group Llc holds 5.82% of its portfolio in BHI for 30,000 shares. Viking Fund Management Llc owns 540,000 shares or 4.93% of their US portfolio. Moreover, Zweig has 4.79% invested in the company for 2.12 million shares. The California-based Poplar Forest Capital Llc has invested 4.42% in the stock. P Schoenfeld Asset Management Lp, a New York-based fund reported 1.32 million shares.
Since March 5, 2015, the stock had 0 insider purchases, and 1 insider sale for $1.49 million net activity. Soucy Arthur L sold 26,676 shares worth $1.49M. Gargalli Claire W sold 3,000 shares worth $195,193. Ruscev Mario sold 27,294 shares worth $1.79M. Deskus Archana sold 915 shares worth $63,135. The insider Jungels Pierre H Dr sold 3,082 shares worth $209,739.
Out of 26 analysts covering Baker Hughes Incorporated (NYSE:BHI), 24 rate it “Buy”, 1 “Sell”, while 7 “Hold”. This means 75% are positive. $78 is the highest target while $41 is the lowest. The $57.58 average target is 36.32% above today’s ($43.97) stock price. Baker Hughes Incorporated was the topic in 32 analyst reports since July 22, 2015 according to StockzIntelligence Inc. Barclays Capital maintained the stock on March 28 with “Overweight” rating.
Baker Hughes Incorporated is engaged in the oilfield services industry. The company has a market cap of $19.55 billion. The Firm is a supplier of oilfield services, products, technology and systems to the around the world oil and natural gas industry. It currently has negative earnings. The Firm also provides industrial services and products to the downstream chemicals, and process and pipeline services.
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