Atomi Financial Group Inc. Acquires 2,147 Shares of Baker Hughes (NASDAQ:BKR)

Atomi Financial Group Inc. raised its stake in shares of Baker Hughes (NASDAQ:BKR) by 10.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 22,181 shares of the company’s stock after acquiring an additional 2,147 shares during the period. Atomi Financial Group Inc.’s holdings in Baker Hughes were worth $910,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in BKR. National Pension Service increased its position in Baker Hughes by 6.4% during the third quarter. National Pension Service now owns 1,362,973 shares of the company’s stock valued at $49,271,000 after acquiring an additional 81,625 shares during the last quarter. Burney Co. increased its position in shares of Baker Hughes by 315.0% during the 4th quarter. Burney Co. now owns 138,788 shares of the company’s stock valued at $5,693,000 after purchasing an additional 105,349 shares during the last quarter. Northstar Advisory Group LLC bought a new position in shares of Baker Hughes in the 4th quarter worth approximately $1,180,000. Artemis Investment Management LLP boosted its holdings in shares of Baker Hughes by 29.4% in the fourth quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company’s stock worth $43,233,000 after buying an additional 239,773 shares during the last quarter. Finally, Czech National Bank boosted its holdings in shares of Baker Hughes by 6.0% in the fourth quarter. Czech National Bank now owns 214,549 shares of the company’s stock worth $8,801,000 after buying an additional 12,178 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Piper Sandler initiated coverage on shares of Baker Hughes in a research report on Thursday, December 19th. They issued an “overweight” rating and a $53.00 price target on the stock. Stifel Nicolaus raised their target price on Baker Hughes from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Evercore ISI boosted their price target on Baker Hughes from $46.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, January 15th. TD Cowen decreased their price objective on Baker Hughes from $53.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Finally, Citigroup lifted their price objective on Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, Baker Hughes presently has an average rating of “Moderate Buy” and an average target price of $47.53.

Baker Hughes Stock Performance

BKR opened at $45.81 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30. The stock has a market capitalization of $45.33 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 0.89 and a beta of 1.39. The company has a fifty day moving average of $42.85 and a 200 day moving average of $38.56. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $47.47.

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 analysts’ consensus estimates of $0.61 by $0.06. The firm had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.21 billion. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.42 earnings per share. As a group, sell-side analysts forecast that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

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.