The Vanguard Group, Inc. recently announced the acquisition of new stake in Baker Hughes Company (NYSE:BKR). The institutional investor has increased its shareholding in the Energy company by 21.41% to 72.88 million shares with purchase of 12.85 million shares. This fresh investment now brings its stake to 11.11% valued currently at $1.13 billion. In addition, Capital Research & Management Co.. raised its holdings by 3.85 million to 60.87 million shares. And SSgA Funds Management, Inc. has lifted its position by 9.76% or 3.36 million shares – to 37.76 million shares.
With over 8.49 million Baker Hughes Company (BKR) shares trading Monday and a closing price of $14.28 on the day, the dollar volume was approximately $121.22 million. The shares have shown a negative weekly performance of -10.25% and its price on 08/31/20 lost nearly -3.51%. Currently, there are 655.00M common shares owned by the public and among those 654.94M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 29 analysts who have offered their price forecasts for BKR have a consensus price objective of $20.62. The analysts have set the share’s price value over the next 12 months at a high of $26.00 and a low of $17.50 should the stock experience a downside. Incidentally, analysts’ outlook for the Baker Hughes Company stock is 1.90 for the next 12 months. The average price target is 30.95% above its last price level and an upside to the estimated low will see the stock gain 18.4% over that period. But an upside of 45.08% will see the stock hit the forecast high price target while mean target price for the stock is $20.00.
Insiders at the company have transacted a total of 78 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 42 of these insider trades were purchases, accounting for 160,680,016 shares. Insider sales of the common stock occurred on 36 occasions, with total insider shares sold totaling 160,387,338 shares.
The top 3 mutual fund holders in Baker Hughes Company are Dodge & Cox Funds – Stock Fund, American Funds Investment Company, and Vanguard Total Stock Market Index. Dodge & Cox Funds – Stock Fund owns 53.92 million shares of the company’s stock, all valued at over $835.21 million. The company bought an additional 1858.0 shares recently to bring their total holdings to about 8.22% of the shares outstanding. American Funds Investment Company bought 7.97 million shares to see its total holdings expand to 38.56 million shares valued at over $597.32 million and representing 5.88% of the shares outstanding. Vanguard Total Stock Market Index sold 11791.0 shares to bring its total holdings to over 18.64 million shares at a value of $288.78 million. Vanguard Total Stock Market Index now owns shares totaling to 2.84% of the shares outstanding.
Shares of Baker Hughes Company (NYSE: BKR) opened at $14.89, up $0.09 from a prior closing price of $14.80. However, the script later closed the day at $14.28, down -3.51%. The company’s stock has a 5-day price change of -10.25% and -16.54% over the past three months. BKR shares are trading -44.28% year to date (YTD), with the 12-month market performance down to -34.16% lower. It has a 12-month low price of $9.12 and touched a high of $25.99 over the same period. Currently, 8.49 million shares have been traded, compared to an average intraday trading volume of 6.45 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -12.13%, -9.50%, and -18.94% respectively.
Institutional ownership of Baker Hughes Company (NYSE: BKR) shares accounts for 96.60% of the company’s 655.00M shares outstanding. Mutual fund holders own 4.52%, while other institutional holders and individual stakeholders account for 70.03% and 26.03% respectively.
It has a market capitalization of $14.69B and a beta (3y monthly) value of 1.70. The earnings-per-share (ttm) stands at -$15.76. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.78% over the week and 3.61% over the month.
Analysts forecast that Baker Hughes Company (BKR) will achieve an EPS of $0.04 for the current quarter, $0.11 for the next quarter and $0.46 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.02 while analysts give the company a high EPS estimate of $0.07. Comparatively, EPS for the current quarter was $0.21 a year ago. Earnings per share for the fiscal year are expected to increase by 12.00%, and 209.50% over the next financial year. EPS should grow at an annualized rate of 2.47% over the next five years, compared to -43.30% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 29 brokerage firm advisors rate Baker Hughes Company (BKR) as a “Strong Buy” at a consensus score of 1.90. Specifically, 21 Wall Street analysts polled rate the stock as a buy, while 5 of the 29 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the BKR, a number of firms have released research notes about the stock. Scotiabank stated their Sector Perform rating for the stock in a research note on July 16, 2020, with the firm’s price target at. Cowen coverage for the Baker Hughes Company (BKR) stock in a research note released on June 19, 2020 offered a Outperform rating with a price target of $21. Northland Capital was of a view on May 29, 2020 that the stock is Market Perform, while Argus gave the stock Hold rating on March 31, 2020, issuing a price target of. Tudor Pickering on their part issued Buy rating on March 26, 2020.