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

Park Avenue Securities LLC trimmed its holdings in shares of Baker Hughes (NASDAQ:BKR) by 14.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 22,957 shares of the company’s stock after selling 3,746 shares during the quarter. Park Avenue Securities LLC’s holdings in Baker Hughes were worth $942,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in shares of Baker Hughes in the third quarter worth approximately $30,000. True Wealth Design LLC boosted its position in shares of Baker Hughes by 2,181.6% in the third quarter. True Wealth Design LLC now owns 867 shares of the company’s stock worth $31,000 after purchasing an additional 829 shares during the period. Groupama Asset Managment boosted its position in shares of Baker Hughes by 1,045.1% in the third quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock worth $32,000 after purchasing an additional 811,711 shares during the period. Continuum Advisory LLC boosted its position in shares of Baker Hughes by 442.2% in the third quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock worth $35,000 after purchasing an additional 796 shares during the period. Finally, Quarry LP boosted its position in shares of Baker Hughes by 81.1% in the second quarter. Quarry LP now owns 1,594 shares of the company’s stock worth $56,000 after purchasing an additional 714 shares during the period. 92.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on BKR shares. Bank of America boosted their target price on shares of Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Susquehanna boosted their target price on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a “positive” rating in a report on Thursday, October 24th. Argus raised shares of Baker Hughes from a “hold” rating to a “buy” rating in a report on Friday, October 25th. BMO Capital Markets boosted their target price on shares of Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Finally, Atb Cap Markets downgraded shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $47.53.

Baker Hughes Trading Up 0.5 %

Shares of BKR opened at $46.54 on Tuesday. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $47.47. The company has a market cap of $46.05 billion, a P/E ratio of 20.87, a P/E/G ratio of 0.79 and a beta of 1.39. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The company’s fifty day simple moving average is $42.74 and its 200-day simple moving average is $38.38.

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

Baker Hughes Company 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.