Envestnet Asset Management Inc. Purchases 17,035 Shares of Baker Hughes Company (NASDAQ:BKR)

Envestnet Asset Management Inc. boosted its position in shares of Baker Hughes Company (NASDAQ:BKR) by 2.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 621,468 shares of the company’s stock after purchasing an additional 17,035 shares during the quarter. Envestnet Asset Management Inc. owned about 0.06% of Baker Hughes worth $27,314,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Commerce Bank raised its stake in Baker Hughes by 1.0% during the 4th quarter. Commerce Bank now owns 31,075 shares of the company’s stock worth $1,275,000 after buying an additional 300 shares during the period. Grove Bank & Trust raised its position in shares of Baker Hughes by 76.2% during the first quarter. Grove Bank & Trust now owns 740 shares of the company’s stock worth $33,000 after purchasing an additional 320 shares during the period. Ritholtz Wealth Management lifted its holdings in shares of Baker Hughes by 1.0% during the 1st quarter. Ritholtz Wealth Management now owns 34,725 shares of the company’s stock valued at $1,526,000 after purchasing an additional 339 shares in the last quarter. Xponance Inc. grew its position in shares of Baker Hughes by 0.3% in the 4th quarter. Xponance Inc. now owns 143,421 shares of the company’s stock valued at $5,883,000 after purchasing an additional 367 shares during the period. Finally, Angeles Investment Advisors LLC raised its holdings in Baker Hughes by 2.5% during the 4th quarter. Angeles Investment Advisors LLC now owns 14,830 shares of the company’s stock worth $608,000 after buying an additional 368 shares during the period. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on BKR shares. TD Cowen cut their target price on shares of Baker Hughes from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. The Goldman Sachs Group reduced their target price on Baker Hughes from $42.00 to $41.00 and set a “buy” rating for the company in a research note on Wednesday, July 2nd. Royal Bank Of Canada dropped their price target on Baker Hughes from $50.00 to $46.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Barclays cut their price target on Baker Hughes from $54.00 to $48.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. Finally, Evercore ISI dropped their price objective on shares of Baker Hughes from $52.00 to $50.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, Baker Hughes currently has an average rating of “Moderate Buy” and a consensus price target of $48.50.

Baker Hughes Trading Down 2.0%

Shares of BKR stock opened at $39.87 on Tuesday. Baker Hughes Company has a twelve month low of $32.25 and a twelve month high of $49.40. The stock’s fifty day simple moving average is $38.12 and its 200 day simple moving average is $40.98. The company has a quick ratio of 0.93, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $39.50 billion, a P/E ratio of 13.61, a P/E/G ratio of 5.08 and a beta of 0.91.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.03. Baker Hughes had a return on equity of 14.70% and a net margin of 10.51%. The company had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.54 billion. As a group, sell-side analysts predict that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Tuesday, May 6th were issued a $0.23 dividend. The ex-dividend date was Tuesday, May 6th. This represents a $0.92 dividend on an annualized basis and a yield of 2.31%. Baker Hughes’s payout ratio is 31.40%.

Baker Hughes Profile

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.