SSgA Funds Management, Inc. has recently announced that it has increased stake in Baker Hughes Co (NASDAQ:BKR) by 1.81%. After grabbing 67.68 million shares, the institutional investor is now in possession of 1.2 million shares of the Energy Company. The new investment brought the stake of investor firm to 6.73% having worth around $2.28 billion. Moreover, BlackRock Fund Advisors increased its share by 1.1 million to have a control over 51.96 million shares. And Geode Capital Management LLC raised its holdings to 0.38 million shares by acquiring 22.59 million shares or 2.25% of the stake.
Baker Hughes Co (BKR) concluded trading on 12/28/23 at a closing price of $34.20, with 2.93 million shares of worth about $100.14 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 9.06% during that period and on Thursday the price saw a loss of about -0.84%. Currently the company’s common shares owned by public are about 1.01B shares, out of which, 1.00B shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 29 analysts are covering the BKR stock and their offered price forecasts bring an average price target of $41.58. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $47.00 and could fall to a lowest price of $35.00. The stock’s current price level is 17.75% above of average price target set by the analysts, while a rise to estimated low would result in gain of 2.29% for the stock. However, touching the estimated high of $47.00 would mean a gain of 27.23% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 68 times over the past 12 months. They bought 762,984 shares in 34 of the transactions. In 34 selling transactions, insiders dumped 589,976 shares.
American Funds Investment Company, Vanguard Total Stock Market ETF, and Dodge & Cox Stock Fund are the top 3 mutual funds which are holding stakes in Baker Hughes Co American Funds Investment Company is currently holding 36.36 million shares of worth totaling $1.23 billion. The company recently came selling -11.19 million shares which brought its stake up to 3.61% of the company’s outstanding shares. Vanguard Total Stock Market ETF bought 74800.0 shares, after which its hold over company’s outstanding shares expand to 3.15%, leaving 31.64 million shares with the mutual fund that have a worth of about $1.07 billion. Dodge & Cox Stock Fund, after buying 30.3 million shares, have now control over 3.01% of the stake in the company. It holds 0.16 million shares of worth $1.02 billion.
Baker Hughes Co (NASDAQ: BKR) started trading at $34.36, below -$0.13 from concluding price of the previous day. However, the stock later moved at a day high price of 34.43, or with a loss of -0.84%. Stock saw a price change of 0.50% in past 5 days and over the past one month there was a price change of 1.12%. Year-to-date (YTD), BKR shares are showing a performance of 15.81% which increased to 16.45% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $26.12 but also hit the highest price of $37.58 during that period. The average intraday trading volume for Baker Hughes Co shares is 6.90 million. The stock is currently trading 2.49% above its 20-day simple moving average (SMA20), while that difference is up 0.49% for SMA50 and it goes to 5.16% higher than SMA200.
SSgA Funds Management, Inc. acquired 67.68 million shares of Baker Hughes Co having value of about $2.28 billion. Data submitted at the U.S SEC by SSgA Funds Management, Inc. revealed that the firm now holds 1.2 million shares in the company valued at close to $41171670.0, or have control over 1.81% stake in the company. Baker Hughes Co (NASDAQ: BKR) currently have 1.01B outstanding shares and institutions hold larger chunk of about 92.47% of that. Holding of mutual funds in the company is about 66.56% while other institutional holders and individual stake holders have control over 7.79% and 27.69% of the stake respectively.
The stock has a current market capitalization of $34.41B and its 3Y-monthly beta is at 1.42. PE ratio of stock for trailing 12 months is 20.61, while it has posted earnings per share of $1.66 in the same period. Its PEG reads 0.47 and has Quick Ratio of 0.88 while making debt-to-equity ratio of 0.44. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for BKR, volatility over the week remained 1.21% while standing at 2.10% over the month.
Analysts are in expectations that Baker Hughes Co (BKR) stock would likely to be making an EPS of $0.48 in the current quarter, while forecast for next quarter EPS is $0.42 and it is $2.05 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.46 which is $0.53 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.38 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 76.09% while it is estimated to increase by 29.79% in next year. EPS is likely to grow at an annualized rate of 43.70% for next 5-years, compared to annual growth of -20.47% made by the stock over the past 5-years.
Analysts at 29 brokerage firms have issued recommendations for the Baker Hughes Co (BKR)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.55. Out of those 29 Wall Street analysts, 20 recommended a “Buy” rating, while 5 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by BofA Securities on July 12, 2023 offering a Buy rating for the stock and assigned a target price of $38 to it.
