Park Avenue Securities LLC Sells 3,746 Shares of Baker Hughes (NASDAQ:BKR)

Park Avenue Securities LLC cut its stake in Baker Hughes (NASDAQ:BKR) by 14.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,957 shares of the company’s stock after selling 3,746 shares during the period. Park Avenue Securities LLC’s holdings in Baker Hughes were worth $942,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Geode Capital Management LLC grew its position in shares of Baker Hughes by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 24,078,093 shares of the company’s stock worth $867,514,000 after buying an additional 123,172 shares during the period. Hotchkis & Wiley Capital Management LLC grew its holdings in Baker Hughes by 34.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock worth $394,775,000 after purchasing an additional 2,811,940 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Baker Hughes by 1.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,633,006 shares of the company’s stock valued at $348,233,000 after purchasing an additional 145,537 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Baker Hughes by 8.6% during the second quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock valued at $306,801,000 after purchasing an additional 692,859 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Baker Hughes by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,951,703 shares of the company’s stock valued at $251,304,000 after purchasing an additional 22,383 shares during the last quarter. 92.06% of the stock is owned by institutional investors.

Baker Hughes Stock Up 0.5 %

BKR stock opened at $46.54 on Tuesday. The business’s 50-day moving average is $42.74 and its two-hundred day moving average is $38.38. The company has a market cap of $46.05 billion, a price-to-earnings ratio of 20.87, a P/E/G ratio of 0.79 and a beta of 1.39. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $47.47. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. The company had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.21 billion. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.42 earnings per share. As a group, analysts forecast that Baker Hughes will post 2.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Stifel Nicolaus raised their price objective on Baker Hughes from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Barclays raised their price target on Baker Hughes from $46.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Benchmark reaffirmed a “buy” rating and issued a $42.00 price target on shares of Baker Hughes in a research report on Thursday, October 24th. Argus raised shares of Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Finally, TD Cowen decreased their target price on shares of Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, Baker Hughes has an average rating of “Moderate Buy” and a consensus price target of $47.53.

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.