Merit Financial Group LLC Acquires Shares of 10,259 Baker Hughes (NASDAQ:BKR)

Merit Financial Group LLC bought a new position in Baker Hughes (NASDAQ:BKR) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,259 shares of the company’s stock, valued at approximately $421,000.

A number of other institutional investors have also recently made changes to their positions in BKR. AE Wealth Management LLC bought a new position in Baker Hughes during the 2nd quarter valued at about $208,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Baker Hughes by 59.6% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 191,694 shares of the company’s stock valued at $6,742,000 after purchasing an additional 71,558 shares during the last quarter. AXA S.A. lifted its position in Baker Hughes by 7.5% during the second quarter. AXA S.A. now owns 106,245 shares of the company’s stock valued at $3,737,000 after purchasing an additional 7,394 shares during the period. AQR Capital Management LLC lifted its position in Baker Hughes by 7.6% during the second quarter. AQR Capital Management LLC now owns 6,424,915 shares of the company’s stock valued at $223,523,000 after purchasing an additional 455,307 shares during the period. Finally, APG Asset Management N.V. boosted its holdings in Baker Hughes by 121.4% in the second quarter. APG Asset Management N.V. now owns 250,172 shares of the company’s stock worth $8,210,000 after purchasing an additional 137,175 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Piper Sandler assumed coverage on shares of Baker Hughes in a research note on Thursday, December 19th. They set an “overweight” rating and a $53.00 target price for the company. Argus upgraded Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Stifel Nicolaus raised their target price on Baker Hughes from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. TD Cowen cut their price target on Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Finally, Benchmark reiterated a “buy” rating and issued a $42.00 price objective on shares of Baker Hughes in a research note on Thursday, October 24th. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $48.06.

Baker Hughes Trading Down 0.3 %

Shares of Baker Hughes stock opened at $45.66 on Friday. 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. The company has a market capitalization of $45.18 billion, a P/E ratio of 20.48, a P/E/G ratio of 0.90 and a beta of 1.39. The company has a fifty day moving average of $42.91 and a 200 day moving average of $38.61.

Baker Hughes (NASDAQ:BKR) last announced 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 business had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.21 billion. During the same period in the previous year, the business earned $0.42 earnings per share. The business’s revenue was up 4.0% on a year-over-year basis. On average, sell-side analysts anticipate that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

About Baker Hughes

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.