Baker Hughes Company $BKR Stock: Vest Financial LLC Raises Stake

Vest Financial LLC lifted its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 5.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,197,972 shares of the company’s stock after buying an additional 66,357 shares during the period. Vest Financial LLC owned approximately 0.12% of Baker Hughes worth $65,769,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BKR. Bleakley Financial Group LLC raised its stake in Baker Hughes by 0.6% during the 1st quarter. Bleakley Financial Group LLC now owns 25,485 shares of the company’s stock valued at $1,556,000 after acquiring an additional 163 shares in the last quarter. Resolute Wealth Strategies LLC grew its stake in shares of Baker Hughes by 2.7% in the first quarter. Resolute Wealth Strategies LLC now owns 6,597 shares of the company’s stock worth $403,000 after purchasing an additional 172 shares in the last quarter. Evolve Private Wealth LLC grew its stake in shares of Baker Hughes by 2.4% in the first quarter. Evolve Private Wealth LLC now owns 8,663 shares of the company’s stock worth $529,000 after purchasing an additional 203 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in shares of Baker Hughes by 49.0% during the first quarter. Meeder Asset Management Inc. now owns 651 shares of the company’s stock valued at $40,000 after purchasing an additional 214 shares during the period. Finally, Anchor Investment Management LLC increased its holdings in shares of Baker Hughes by 36.3% during the second quarter. Anchor Investment Management LLC now owns 954 shares of the company’s stock valued at $53,000 after purchasing an additional 254 shares during the period. 92.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on BKR shares. Susquehanna lifted their price objective on shares of Baker Hughes from $72.00 to $75.00 and gave the company a “positive” rating in a research note on Thursday, September 10th. Stifel Nicolaus upped their price objective on shares of Baker Hughes from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Morgan Stanley began coverage on shares of Baker Hughes in a research report on Friday, August 7th. They issued an “overweight” rating and a $70.00 target price for the company. Wolfe Research began coverage on shares of Baker Hughes in a research report on Wednesday, July 8th. They issued an “outperform” rating and a $70.00 target price for the company. Finally, Royal Bank Of Canada raised their target price on shares of Baker Hughes from $71.00 to $76.00 and gave the company an “outperform” rating in a research note on Tuesday, August 25th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $72.10.

Baker Hughes Price Performance

NASDAQ:BKR opened at $56.00 on Thursday. The business’s 50-day moving average price is $59.32 and its 200 day moving average price is $60.69. The firm has a market cap of $55.59 billion, a P/E ratio of 18.06, a PEG ratio of 2.65 and a beta of 1.04. Baker Hughes Company has a 52-week low of $44.26 and a 52-week high of $70.41. The company has a quick ratio of 1.76, a current ratio of 2.09 and a debt-to-equity ratio of 0.77.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Monday, July 27th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.51 by $0.13. Baker Hughes had a net margin of 11.17% and a return on equity of 13.85%. The firm had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $6.54 billion. During the same period in the previous year, the business earned $0.63 earnings per share. Baker Hughes’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, sell-side analysts predict that Baker Hughes Company will post 2.57 earnings per share for the current fiscal year.

Baker Hughes Profile

Baker Hughes Company (NASDAQ: BKR) is an energy technology company that provides products, services and digital solutions for the oil and gas industry and other energy-related markets. Its offerings support the exploration, drilling, completion, production and maintenance of energy assets across the lifecycle of a project.

The company’s oilfield services and equipment business provides technologies such as drilling systems, well completions, artificial lift, subsea equipment, production chemicals and well intervention services.