Baker Hughes Company $BKR Stake Reduced by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lowered its holdings in Baker Hughes Company (NASDAQ:BKR) by 70.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 53,756 shares of the company’s stock after selling 127,059 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Baker Hughes were worth $2,611,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BKR. Woodline Partners LP boosted its stake in shares of Baker Hughes by 40.8% during the 1st quarter. Woodline Partners LP now owns 83,650 shares of the company’s stock worth $3,676,000 after acquiring an additional 24,225 shares in the last quarter. Focus Partners Wealth lifted its holdings in shares of Baker Hughes by 5.6% during the first quarter. Focus Partners Wealth now owns 18,481 shares of the company’s stock valued at $812,000 after purchasing an additional 986 shares during the last quarter. Truist Financial Corp boosted its position in shares of Baker Hughes by 3.9% in the 2nd quarter. Truist Financial Corp now owns 386,710 shares of the company’s stock valued at $14,826,000 after purchasing an additional 14,621 shares during the period. Access Financial Services Inc. increased its stake in Baker Hughes by 8.3% in the 2nd quarter. Access Financial Services Inc. now owns 39,532 shares of the company’s stock worth $1,516,000 after purchasing an additional 3,019 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. raised its holdings in Baker Hughes by 15.7% during the 2nd quarter. ASR Vermogensbeheer N.V. now owns 452,569 shares of the company’s stock worth $17,350,000 after buying an additional 61,283 shares during the period. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Price Performance

BKR opened at $56.63 on Thursday. The stock has a fifty day moving average price of $48.96 and a 200 day moving average price of $46.91. 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 1 year low of $33.60 and a 1 year high of $57.58. The stock has a market cap of $55.88 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 1.78 and a beta of 0.89.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Sunday, January 25th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.11. The business had revenue of $7.39 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the company earned $0.70 EPS. Analysts forecast that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Bank of America lifted their target price 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. Barclays boosted their target price on shares of Baker Hughes from $55.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday. Piper Sandler lifted their price target on Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Zephirin Group upped their price target on Baker Hughes from $40.00 to $45.00 and gave the company a “hold” rating in a research report on Monday. Finally, Citigroup raised their price objective on Baker Hughes from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday. Twenty-one research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.