Vest Financial LLC Has $51.70 Million Holdings in Baker Hughes Company $BKR

Vest Financial LLC raised its stake in Baker Hughes Company (NASDAQ:BKR) by 42.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,061,256 shares of the company’s stock after acquiring an additional 318,762 shares during the period. Vest Financial LLC owned about 0.11% of Baker Hughes worth $51,704,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of BKR. Woodline Partners LP lifted its holdings in 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 buying an additional 24,225 shares in the last quarter. Focus Partners Wealth boosted its stake in Baker Hughes by 5.6% during the 1st quarter. Focus Partners Wealth now owns 18,481 shares of the company’s stock worth $812,000 after acquiring an additional 986 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Baker Hughes by 144.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 180,815 shares of the company’s stock valued at $7,167,000 after buying an additional 106,968 shares during the period. Assenagon Asset Management S.A. raised its stake in Baker Hughes by 20.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 107,413 shares of the company’s stock worth $4,118,000 after buying an additional 18,291 shares during the period. Finally, CX Institutional lifted its holdings in Baker Hughes by 4.1% during the second quarter. CX Institutional now owns 8,742 shares of the company’s stock worth $335,000 after acquiring an additional 346 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on BKR. JPMorgan Chase & Co. boosted 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. BMO Capital Markets lifted their target price on Baker Hughes from $53.00 to $55.00 in a research report on Tuesday, November 11th. UBS Group raised their price target on Baker Hughes from $48.00 to $54.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. Evercore ISI set a $54.00 target price on shares of Baker Hughes in a report on Monday, October 27th. Finally, Bank of America upped their price objective on Baker Hughes from $52.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, October 14th. Twenty-three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $54.04.

Baker Hughes Trading Up 2.9%

Shares of BKR stock opened at $52.73 on Wednesday. Baker Hughes Company has a fifty-two week low of $33.60 and a fifty-two week high of $52.33. The stock’s fifty day moving average price is $48.10 and its two-hundred day moving average price is $46.30. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41. The company has a market cap of $52.04 billion, a PE ratio of 18.15, a P/E/G ratio of 1.64 and a beta of 0.89.

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, topping 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 business had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $6.81 billion. During the same period in the prior year, the company earned $0.67 EPS. Baker Hughes’s revenue for the quarter was up 1.5% on a year-over-year basis. Equities analysts predict that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

About Baker Hughes

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.