Baker Hughes (NASDAQ:BKR) Shares Acquired by Ballentine Partners LLC

Ballentine Partners LLC lifted its position in Baker Hughes (NASDAQ:BKR) by 3.6% in the fourth quarter, Holdings Channel reports. The firm owned 22,350 shares of the company’s stock after acquiring an additional 782 shares during the period. Ballentine Partners LLC’s holdings in Baker Hughes were worth $917,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in Baker Hughes in the 3rd quarter valued at about $30,000. True Wealth Design LLC increased its holdings in shares of Baker Hughes by 2,181.6% in the third quarter. True Wealth Design LLC now owns 867 shares of the company’s stock valued at $31,000 after purchasing an additional 829 shares during the period. Continuum Advisory LLC raised its stake in shares of Baker Hughes by 442.2% during the third quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock worth $35,000 after purchasing an additional 796 shares during the last quarter. Quarry LP lifted its holdings in shares of Baker Hughes by 81.1% during the second quarter. Quarry LP now owns 1,594 shares of the company’s stock worth $56,000 after purchasing an additional 714 shares during the period. Finally, Eastern Bank grew its position in Baker Hughes by 598.4% in the 4th quarter. Eastern Bank now owns 1,739 shares of the company’s stock valued at $71,000 after buying an additional 1,490 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on BKR shares. Royal Bank of Canada raised their target price on shares of Baker Hughes from $43.00 to $49.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Piper Sandler initiated coverage on shares of Baker Hughes in a research report on Thursday, December 19th. They issued an “overweight” rating and a $53.00 price objective for the company. BMO Capital Markets boosted their target price on Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Bank of America raised their price target on Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Finally, Barclays upped their price objective on Baker Hughes from $46.00 to $52.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $47.53.

Baker Hughes Trading Down 2.6 %

Shares of BKR opened at $45.81 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. Baker Hughes has a 1-year low of $28.32 and a 1-year high of $47.47. The stock has a market cap of $45.33 billion, a price-to-earnings ratio of 20.54, a price-to-earnings-growth ratio of 0.89 and a beta of 1.39. The firm has a 50 day simple moving average of $42.85 and a 200-day simple moving average of $38.56.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The firm had revenue of $6.91 billion for the quarter, compared to analysts’ expectations of $7.21 billion. During the same quarter in the prior year, the firm earned $0.42 EPS. Baker Hughes’s quarterly revenue was up 4.0% on a year-over-year basis. Equities analysts forecast that Baker Hughes will post 2.29 EPS for the current fiscal year.

About Baker Hughes

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.