CX Institutional Purchases 1,155 Shares of Baker Hughes (NASDAQ:BKR)

CX Institutional lifted its position in Baker Hughes (NASDAQ:BKR) by 16.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,262 shares of the company’s stock after purchasing an additional 1,155 shares during the quarter. CX Institutional’s holdings in Baker Hughes were worth $339,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in BKR. AE Wealth Management LLC bought a new stake in Baker Hughes during the second quarter worth approximately $208,000. AXA S.A. increased its stake in Baker Hughes by 7.5% during the second quarter. AXA S.A. now owns 106,245 shares of the company’s stock worth $3,737,000 after acquiring an additional 7,394 shares during the last quarter. APG Asset Management N.V. increased its stake in Baker Hughes by 121.4% during the second quarter. APG Asset Management N.V. now owns 250,172 shares of the company’s stock worth $8,210,000 after acquiring an additional 137,175 shares during the last quarter. Dark Forest Capital Management LP bought a new stake in Baker Hughes during the second quarter worth approximately $257,000. Finally, MBB Public Markets I LLC bought a new stake in Baker Hughes during the second quarter worth approximately $2,477,000. 92.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BKR. The Goldman Sachs Group boosted their price objective on Baker Hughes from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday. Wells Fargo & Company boosted their target price on Baker Hughes from $42.00 to $49.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Morgan Stanley boosted their target price on Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. Royal Bank of Canada boosted their target price on Baker Hughes from $43.00 to $49.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Finally, Jefferies Financial Group boosted their target price on Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $48.06.

Baker Hughes Stock Performance

Shares of BKR stock opened at $45.55 on Monday. The business’s fifty day simple moving average is $43.01 and its 200-day simple moving average is $38.77. The company has a market cap of $45.07 billion, a PE ratio of 20.43, a PEG ratio of 0.88 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 12-month low of $28.32 and a 12-month high of $47.47.

Baker Hughes Company 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.