AMF Tjanstepension AB Sells 289,856 Shares of Baker Hughes Company $BKR

AMF Tjanstepension AB decreased its holdings in Baker Hughes Company (NASDAQ:BKR) by 41.7% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 405,203 shares of the company’s stock after selling 289,856 shares during the period. AMF Tjanstepension AB’s holdings in Baker Hughes were worth $19,733,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of Baker Hughes by 104.0% during the third 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 during the last quarter. Harbour Investments Inc. raised its position in Baker Hughes by 61.7% in the 2nd quarter. Harbour Investments Inc. now owns 854 shares of the company’s stock worth $33,000 after buying an additional 326 shares during the last quarter. LFA Lugano Financial Advisors SA purchased a new position in shares of Baker Hughes in the 2nd quarter worth $36,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Baker Hughes in the second quarter worth approximately $36,000. Finally, LRI Investments LLC raised its stake in shares of Baker Hughes by 59.3% in the second quarter. LRI Investments LLC now owns 1,032 shares of the company’s stock worth $40,000 after buying an additional 384 shares during the period. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Trading Down 0.9%

Shares of Baker Hughes stock opened at $53.95 on Friday. 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 Company has a 1-year low of $33.60 and a 1-year high of $55.31. The stock’s 50 day simple moving average is $48.46 and its 200-day simple moving average is $46.56. The stock has a market cap of $53.23 billion, a P/E ratio of 18.60, a P/E/G ratio of 1.70 and a beta of 0.89.

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on BKR shares. Barclays upped 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. UBS Group lifted their target price on Baker Hughes from $48.00 to $54.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. BMO Capital Markets upped their price objective on shares of Baker Hughes from $53.00 to $55.00 in a research note on Tuesday, November 11th. TD Cowen reissued a “buy” rating on shares of Baker Hughes in a research report on Wednesday, January 7th. Finally, Piper Sandler lifted their target price on shares of Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Twenty-one equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.