Birch Financial Group LLC Takes Position in Baker Hughes Company $BKR

Birch Financial Group LLC bought a new position in shares of Baker Hughes Company (NASDAQ:BKR) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 11,378 shares of the company’s stock, valued at approximately $554,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Woodline Partners LP grew its stake in shares of Baker Hughes by 40.8% in the 1st quarter. Woodline Partners LP now owns 83,650 shares of the company’s stock worth $3,676,000 after purchasing an additional 24,225 shares during the last quarter. Focus Partners Wealth boosted its holdings 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 grew its position in Baker Hughes by 15.1% in 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 during the last quarter. Ballentine Partners LLC increased its holdings in shares of Baker Hughes by 6.4% in the second quarter. Ballentine Partners LLC now owns 24,846 shares of the company’s stock valued at $953,000 after buying an additional 1,494 shares in the last quarter. Finally, CX Institutional lifted its position in shares of Baker Hughes by 4.1% during the 2nd quarter. CX Institutional now owns 8,742 shares of the company’s stock valued at $335,000 after acquiring an additional 346 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BKR. Stifel Nicolaus lifted their target price on Baker Hughes from $52.00 to $57.00 and gave the stock a “buy” rating in a report on Wednesday. Citigroup lifted their price target on Baker Hughes from $55.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Baker Hughes in a research note on Monday, December 29th. Barclays raised their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $57.00 price target on shares of Baker Hughes in a report on Thursday, January 15th. Twenty-one analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $54.00.

Baker Hughes Trading Down 0.9%

Baker Hughes stock opened at $53.95 on Friday. Baker Hughes Company has a 12 month low of $33.60 and a 12 month high of $55.31. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33. The stock has a market cap of $53.23 billion, a P/E ratio of 18.60, a P/E/G ratio of 1.72 and a beta of 0.89. The company’s fifty day simple moving average is $48.46 and its 200-day simple moving average is $46.51.

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