Baker Hughes Company $BKR Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lowered its stake in shares of Baker Hughes Company (NASDAQ:BKR) by 70.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,756 shares of the company’s stock after selling 127,059 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Baker Hughes were worth $2,611,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brandywine Global Investment Management LLC increased its holdings in Baker Hughes by 8.2% in the 2nd quarter. Brandywine Global Investment Management LLC now owns 648,149 shares of the company’s stock valued at $24,850,000 after purchasing an additional 49,108 shares in the last quarter. Synergy Asset Management LLC purchased a new stake in shares of Baker Hughes in the third quarter worth about $1,920,000. Webster Bank N. A. acquired a new stake in shares of Baker Hughes in the third quarter valued at about $3,434,000. Robeco Institutional Asset Management B.V. grew its stake in shares of Baker Hughes by 23.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 458,415 shares of the company’s stock valued at $22,334,000 after buying an additional 88,536 shares in the last quarter. Finally, Schroder Investment Management Group raised its holdings in shares of Baker Hughes by 0.6% during the 2nd quarter. Schroder Investment Management Group now owns 1,450,363 shares of the company’s stock valued at $55,607,000 after buying an additional 8,994 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $56.63 on Thursday. The firm’s 50 day moving average is $48.96 and its two-hundred day moving average is $46.91. The firm has a market capitalization of $55.88 billion, a P/E ratio of 21.78, a PEG ratio of 1.78 and a beta of 0.89. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. Baker Hughes Company has a 52 week low of $33.60 and a 52 week high of $57.58.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Sunday, January 25th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.67 by $0.11. The firm had revenue of $7.39 billion for the quarter, compared to analysts’ expectations of $7.09 billion. Baker Hughes had a return on equity of 14.51% and a net margin of 9.33%.The firm’s revenue was up .3% compared to the same quarter last year. During the same period last year, the firm earned $0.70 EPS. Analysts anticipate that Baker Hughes Company will post 2.59 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BKR has been the topic of a number of recent research reports. Stifel Nicolaus boosted their target price on shares of Baker Hughes from $57.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday. HSBC boosted their price objective on shares of Baker Hughes from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, October 27th. Susquehanna boosted their price target on Baker Hughes from $58.00 to $65.00 and gave the stock a “positive” rating in a research note on Tuesday. JPMorgan Chase & Co. raised their price objective on Baker Hughes from $53.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, BMO Capital Markets upped their target price on Baker Hughes from $55.00 to $65.00 and gave the company an “outperform” rating in a research report on Tuesday. Twenty-one analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $57.21.

Baker Hughes Profile

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm’s roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE’s oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.