Bourgeon Capital Management LLC Lowers Holdings in Baker Hughes (NASDAQ:BKR)

Bourgeon Capital Management LLC reduced its stake in shares of Baker Hughes (NASDAQ:BKR) by 0.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 129,037 shares of the company’s stock after selling 459 shares during the period. Bourgeon Capital Management LLC’s holdings in Baker Hughes were worth $5,293,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of BKR. Ashton Thomas Securities LLC purchased a new stake in shares of Baker Hughes during the 3rd quarter worth about $30,000. True Wealth Design LLC grew its stake in Baker Hughes by 2,181.6% during the third quarter. True Wealth Design LLC now owns 867 shares of the company’s stock worth $31,000 after buying an additional 829 shares during the period. Groupama Asset Managment increased 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 acquiring an additional 811,711 shares in the last quarter. Continuum Advisory LLC raised its stake in shares of Baker Hughes by 442.2% in the 3rd quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock valued at $35,000 after acquiring an additional 796 shares during the period. Finally, Quarry LP lifted its holdings in shares of Baker Hughes by 81.1% during 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 in the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $47.04 on Wednesday. The firm has a market cap of $46.55 billion, a price-to-earnings ratio of 21.09, a P/E/G ratio of 0.89 and a beta of 1.39. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $47.47. 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 business has a fifty day simple moving average of $42.78 and a 200 day simple moving average of $38.47.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data 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. The firm had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.21 billion. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.42 earnings per share. As a group, sell-side analysts predict that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on BKR shares. Benchmark reaffirmed a “buy” rating and set a $42.00 price target on shares of Baker Hughes in a research note on Thursday, October 24th. Barclays increased their price target on Baker Hughes from $46.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Evercore ISI boosted their price objective on Baker Hughes from $46.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, January 15th. Wells Fargo & Company increased their target price on shares of Baker Hughes from $42.00 to $49.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, BMO Capital Markets boosted their price objective on Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Three research 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 has an average rating of “Moderate Buy” and an average target price of $47.53.

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.