Baker Hughes (NASDAQ:BKR) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lowered its position in Baker Hughes (NASDAQ:BKR) by 15.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,512 shares of the company’s stock after selling 6,326 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Baker Hughes were worth $1,416,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Geode Capital Management LLC increased 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 purchasing an additional 123,172 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of Baker Hughes by 34.7% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock valued at $394,775,000 after buying an additional 2,811,940 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Baker Hughes by 1.5% in 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 worth $348,233,000 after acquiring an additional 145,537 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Baker Hughes by 8.6% in the 2nd quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock worth $306,801,000 after purchasing an additional 692,859 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Baker Hughes by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,951,703 shares of the company’s stock worth $251,304,000 after buying an additional 22,383 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Price Performance

NASDAQ BKR opened at $45.66 on Friday. The firm’s 50 day moving average is $42.91 and its 200-day moving average is $38.61. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $45.18 billion, a PE ratio of 20.48, a price-to-earnings-growth ratio of 0.90 and a beta of 1.39. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $47.47.

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on BKR shares. Bank of America upped their target price on shares of Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Wells Fargo & Company lifted their target price on Baker Hughes from $42.00 to $49.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Stifel Nicolaus increased their price target on Baker Hughes from $45.00 to $48.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Morgan Stanley lifted their price objective on shares of Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. Finally, The Goldman Sachs Group raised their target price on shares of Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $48.06.

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.