Baker Hughes Company $BKR Holdings Decreased by Universal Beteiligungs und Servicegesellschaft mbH

Universal Beteiligungs und Servicegesellschaft mbH cut its position in shares of Baker Hughes Company (NASDAQ:BKR) by 8.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,553,589 shares of the company’s stock after selling 233,547 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned 0.26% of Baker Hughes worth $124,411,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Baker Hughes during the second quarter worth about $862,722,000. First Trust Advisors LP increased its stake in shares of Baker Hughes by 76.0% during the second quarter. First Trust Advisors LP now owns 7,419,033 shares of the company’s stock valued at $284,446,000 after acquiring an additional 3,203,942 shares during the period. Sei Investments Co. boosted its stake in Baker Hughes by 247.5% during the 2nd quarter. Sei Investments Co. now owns 3,134,494 shares of the company’s stock valued at $120,177,000 after purchasing an additional 2,232,394 shares in the last quarter. American Century Companies Inc. increased its position in shares of Baker Hughes by 38.0% during the 2nd quarter. American Century Companies Inc. now owns 7,602,803 shares of the company’s stock valued at $291,492,000 after purchasing an additional 2,094,079 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Baker Hughes by 18.9% in the 2nd quarter. Invesco Ltd. now owns 12,834,534 shares of the company’s stock worth $492,076,000 after buying an additional 2,044,402 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Wall Street Analyst Weigh In

BKR has been the subject of several analyst reports. HSBC upped their target price on Baker Hughes from $54.00 to $56.00 and gave the company a “buy” rating in a report on Monday, October 27th. Jefferies Financial Group lifted their target price on shares of Baker Hughes from $58.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday, November 20th. UBS Group raised their price objective on shares of Baker Hughes from $48.00 to $54.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. Citigroup boosted their price target on Baker Hughes from $55.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Baker Hughes from $52.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, September 30th. Twenty-three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Baker Hughes currently has an average rating of “Moderate Buy” and a consensus price target of $54.04.

Baker Hughes Trading Down 0.9%

Shares of BKR opened at $51.26 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41. The company has a market cap of $50.58 billion, a price-to-earnings ratio of 17.68, a PEG ratio of 1.64 and a beta of 0.89. Baker Hughes Company has a 52-week low of $33.60 and a 52-week high of $52.33. The stock has a fifty day moving average price of $48.10 and a two-hundred day moving average price of $46.30.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Thursday, October 23rd. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.06. The firm had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $6.81 billion. Baker Hughes had a net margin of 10.43% and a return on equity of 14.22%. Baker Hughes’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.67 EPS. Analysts predict that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Company Profile

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm’s roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE’s oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.