Vanguard Capital Wealth Advisors Buys Shares of 10,700 Baker Hughes Company $BKR

Vanguard Capital Wealth Advisors purchased a new stake in shares of Baker Hughes Company (NASDAQ:BKR) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 10,700 shares of the company’s stock, valued at approximately $521,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of BKR. Brandywine Global Investment Management LLC raised its position in shares of Baker Hughes by 8.2% in the second quarter. Brandywine Global Investment Management LLC now owns 648,149 shares of the company’s stock worth $24,850,000 after buying an additional 49,108 shares in the last quarter. Synergy Asset Management LLC purchased a new position in Baker Hughes during the third quarter worth about $1,920,000. Webster Bank N. A. bought a new position in Baker Hughes in the 3rd quarter worth about $3,434,000. Schroder Investment Management Group raised its holdings in shares of Baker Hughes by 0.6% in the 2nd quarter. Schroder Investment Management Group now owns 1,450,363 shares of the company’s stock valued at $55,607,000 after acquiring an additional 8,994 shares in the last quarter. Finally, California Public Employees Retirement System raised its holdings in shares of Baker Hughes by 8.7% in the 2nd quarter. California Public Employees Retirement System now owns 1,800,362 shares of the company’s stock valued at $69,026,000 after acquiring an additional 144,381 shares in the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BKR has been the topic of several research analyst reports. Bank of America upped their price objective on shares of Baker Hughes from $52.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. BMO Capital Markets increased their price target on shares of Baker Hughes from $53.00 to $55.00 in a report on Tuesday, November 11th. JPMorgan Chase & Co. raised their price objective on shares of Baker Hughes from $52.00 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday, September 30th. Zephirin Group lifted their price objective on shares of Baker Hughes from $37.00 to $40.00 and gave the stock a “hold” rating in a report on Thursday, October 2nd. Finally, Piper Sandler increased their target price on Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Twenty-one analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

Baker Hughes Price Performance

BKR opened at $54.46 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00. The stock’s 50 day simple moving average is $48.36 and its 200 day simple moving average is $46.41. The firm has a market cap of $53.74 billion, a price-to-earnings ratio of 18.78, a PEG ratio of 1.69 and a beta of 0.89. Baker Hughes Company has a 1 year low of $33.60 and a 1 year high of $54.59.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Thursday, October 23rd. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.06. Baker Hughes had a return on equity of 14.22% and a net margin of 10.43%.The firm had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $6.81 billion. During the same quarter in the previous year, the company posted $0.67 earnings per share. The business’s revenue was up 1.5% on a year-over-year basis. As a group, analysts predict that Baker Hughes Company will post 2.59 earnings per share for the current year.

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.