Rakuten Investment Management Inc. Buys New Shares in Baker Hughes Company $BKR

Rakuten Investment Management Inc. bought a new position in shares of Baker Hughes Company (NASDAQ:BKR) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 16,791 shares of the company’s stock, valued at approximately $818,000.

Other large investors have also recently added to or reduced their stakes in the company. Woodline Partners LP increased its position in shares of Baker Hughes by 40.8% during the first quarter. Woodline Partners LP now owns 83,650 shares of the company’s stock valued at $3,676,000 after purchasing an additional 24,225 shares during the period. Focus Partners Wealth boosted its stake in Baker Hughes by 5.6% during the first quarter. Focus Partners Wealth now owns 18,481 shares of the company’s stock worth $812,000 after buying an additional 986 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Baker Hughes by 15.1% during the second quarter. Farther Finance Advisors LLC now owns 7,996 shares of the company’s stock worth $307,000 after buying an additional 1,051 shares in the last quarter. CX Institutional increased its holdings in Baker Hughes by 4.1% in the 2nd quarter. CX Institutional now owns 8,742 shares of the company’s stock valued at $335,000 after buying an additional 346 shares during the period. Finally, Patton Fund Management Inc. acquired a new position in shares of Baker Hughes in the 2nd quarter valued at $232,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Stock Down 0.9%

NASDAQ BKR opened at $53.95 on Friday. The stock’s 50 day simple moving average is $48.46 and its 200 day simple moving average is $46.56. Baker Hughes Company has a one year low of $33.60 and a one year high of $55.31. The firm has a market cap of $53.23 billion, a PE ratio of 18.60, a price-to-earnings-growth ratio of 1.70 and a beta of 0.89. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Thursday, October 23rd. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.06. The firm had revenue of $7.01 billion during 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 business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.67 EPS. As a group, sell-side analysts forecast that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Jefferies Financial Group upped their target price on shares of Baker Hughes from $58.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday, November 20th. UBS Group lifted their price objective on Baker Hughes from $48.00 to $54.00 and gave the company a “neutral” rating in a report on Friday, December 12th. Susquehanna increased their target price on Baker Hughes from $56.00 to $58.00 and gave the stock a “positive” rating in a report on Wednesday, January 7th. Zephirin Group raised their target price on Baker Hughes from $37.00 to $40.00 and gave the stock a “hold” rating in a research report on Thursday, October 2nd. Finally, Stifel Nicolaus upped their price target on Baker Hughes from $52.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday. Twenty-one analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.00.

Baker Hughes Company 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.