Baker Hughes (NASDAQ:BKR) Stake Lowered by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. reduced its stake in shares of Baker Hughes (NASDAQ:BKR) by 1.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,278 shares of the company’s stock after selling 517 shares during the period. Crossmark Global Holdings Inc.’s holdings in Baker Hughes were worth $1,816,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of BKR. Ashton Thomas Securities LLC purchased a new position in shares of Baker Hughes during the 3rd quarter valued at $30,000. True Wealth Design LLC boosted its holdings in 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 in the last quarter. Groupama Asset Managment boosted its holdings in 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 in the last quarter. Continuum Advisory LLC boosted its holdings in 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 in the last quarter. Finally, Quarry LP boosted its holdings in 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 in the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BKR. The Goldman Sachs Group upped their price objective on shares of Baker Hughes from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday. Jefferies Financial Group upped their price objective on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Evercore ISI upped their price objective on shares of Baker Hughes from $46.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, January 15th. Piper Sandler began coverage on shares of Baker Hughes in a report on Thursday, December 19th. They issued an “overweight” rating and a $53.00 price objective for the company. Finally, Argus raised shares of Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, Baker Hughes has an average rating of “Moderate Buy” and an average target price of $48.06.

Baker Hughes Stock Performance

NASDAQ BKR opened at $45.66 on Friday. The stock has a market cap of $45.18 billion, a P/E ratio of 20.48, a PEG ratio of 0.90 and a beta of 1.39. The company’s 50-day simple moving average is $42.91 and its 200 day simple moving average is $38.61. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $47.47. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37.

Baker Hughes (NASDAQ:BKR) last posted its 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 business had revenue of $6.91 billion for 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%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 earnings per share. As a group, research analysts forecast 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.