Baker Hughes Company $BKR Holdings Trimmed by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. reduced its position in shares of Baker Hughes Company (NASDAQ:BKR) by 20.6% during the third quarter, Holdings Channel.com reports. The fund owned 101,316 shares of the company’s stock after selling 26,330 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Baker Hughes were worth $4,936,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of BKR. Forum Financial Management LP boosted its position in shares of Baker Hughes by 1.4% during the 2nd quarter. Forum Financial Management LP now owns 17,255 shares of the company’s stock valued at $662,000 after purchasing an additional 233 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its stake in Baker Hughes by 4.2% during the second quarter. Steward Partners Investment Advisory LLC now owns 6,790 shares of the company’s stock valued at $260,000 after purchasing an additional 275 shares during the last quarter. CWM LLC boosted its holdings in Baker Hughes by 0.6% during the third quarter. CWM LLC now owns 44,731 shares of the company’s stock worth $2,179,000 after buying an additional 287 shares in the last quarter. V Square Quantitative Management LLC grew its position in Baker Hughes by 1.4% in the second quarter. V Square Quantitative Management LLC now owns 21,758 shares of the company’s stock worth $834,000 after buying an additional 292 shares during the last quarter. Finally, STF Management LP increased its holdings in shares of Baker Hughes by 2.2% in the second quarter. STF Management LP now owns 14,987 shares of the company’s stock valued at $575,000 after buying an additional 322 shares in the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on BKR shares. Weiss Ratings reissued a “buy (b)” rating on shares of Baker Hughes in a research note on Monday, December 29th. Zephirin Group upped their target price on Baker Hughes from $37.00 to $40.00 and gave the company a “hold” rating in a report on Thursday, October 2nd. Barclays lifted their price target on Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Stifel Nicolaus upped their price objective on shares of Baker Hughes from $52.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. lifted their target price on shares of Baker Hughes from $52.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 30th. Twenty-one investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $54.00.

Baker Hughes Trading Down 0.9%

Shares of NASDAQ BKR opened at $53.95 on Friday. 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 one year low of $33.60 and a one year high of $55.31. The business has a 50-day moving average price of $48.46 and a two-hundred day moving average price of $46.56. The firm has a market capitalization of $53.23 billion, a PE ratio of 18.60, a PEG ratio of 1.70 and a beta of 0.89.

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