Joule Financial LLC Acquires New Holdings in Baker Hughes Company $BKR

Joule Financial LLC purchased a new stake in Baker Hughes Company (NASDAQ:BKR) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 16,999 shares of the company’s stock, valued at approximately $828,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Activest Wealth Management grew its holdings in shares of Baker Hughes by 1,242.5% during the third quarter. Activest Wealth Management now owns 537 shares of the company’s stock worth $26,000 after buying an additional 497 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its stake in Baker Hughes by 104.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock valued at $32,000 after acquiring an additional 337 shares in the last quarter. Harbour Investments Inc. boosted its position in Baker Hughes by 61.7% during the 2nd quarter. Harbour Investments Inc. now owns 854 shares of the company’s stock worth $33,000 after acquiring an additional 326 shares during the last quarter. LFA Lugano Financial Advisors SA bought a new position in shares of Baker Hughes during the 2nd quarter worth approximately $36,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Baker Hughes in the second quarter valued at approximately $36,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Stock Performance

Shares of NASDAQ BKR opened at $56.63 on Thursday. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $55.88 billion, a P/E ratio of 21.78, a P/E/G ratio of 1.78 and a beta of 0.89. Baker Hughes Company has a 12 month low of $33.60 and a 12 month high of $57.58. The stock has a 50 day moving average of $48.96 and a 200-day moving average of $46.91.

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. Baker Hughes had a return on equity of 14.51% and a net margin of 9.33%.The business had revenue of $7.39 billion during the quarter, compared to the consensus estimate of $7.09 billion. During the same quarter last year, the firm posted $0.70 EPS. The company’s quarterly revenue was up .3% on a year-over-year basis. As a group, equities research analysts predict that Baker Hughes Company will post 2.59 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Citigroup raised their target price on shares of Baker Hughes from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday. UBS Group raised their price objective on Baker Hughes from $54.00 to $61.00 and gave the company a “neutral” rating in a report on Wednesday. Piper Sandler lifted their target price on Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Capital One Financial increased their price target on Baker Hughes from $53.00 to $59.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, BMO Capital Markets boosted their price target on Baker Hughes from $55.00 to $65.00 and gave the stock an “outperform” rating in a research report on Tuesday. Twenty-one research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.21.

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.