Diversify Advisory Services LLC Takes Position in Baker Hughes (NASDAQ:BKR)

Diversify Advisory Services LLC bought a new stake in Baker Hughes (NASDAQ:BKR) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,794 shares of the company’s stock, valued at approximately $294,000.

Other institutional investors have also modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in Baker Hughes in the 3rd quarter valued at about $30,000. True Wealth Design LLC grew its holdings in shares of Baker Hughes by 2,181.6% during the 3rd 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 raised its holdings in Baker Hughes by 1,045.1% in the 3rd quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock valued at $32,000 after buying an additional 811,711 shares during the period. Continuum Advisory LLC boosted its stake in Baker Hughes by 442.2% during the third quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock worth $35,000 after buying an additional 796 shares during the period. Finally, Quarry LP raised its stake in shares of Baker Hughes by 81.1% in the 2nd quarter. Quarry LP now owns 1,594 shares of the company’s stock valued at $56,000 after acquiring an additional 714 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on BKR shares. Bank of America upped their price target on Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Benchmark reissued a “buy” rating and set a $42.00 price target on shares of Baker Hughes in a research report on Thursday, October 24th. Wells Fargo & Company raised their price objective on shares of Baker Hughes from $42.00 to $49.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Royal Bank of Canada upped their target price on shares of Baker Hughes from $43.00 to $49.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Finally, Susquehanna raised their price target on shares of Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $47.53.

Baker Hughes Stock Down 2.6 %

BKR stock opened at $45.81 on Thursday. The stock has a market cap of $45.33 billion, a P/E ratio of 20.54, a PEG ratio of 0.89 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. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $47.47. The company’s 50 day moving average is $42.85 and its two-hundred day moving average is $38.56.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. The firm had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $7.21 billion. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. Baker Hughes’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.42 earnings per share. Research analysts expect that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

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.