Baker Hughes Company $BKR Stock Purchased by Apollon Wealth Management LLC

Key Points

• Apollon Wealth Management increased its Baker Hughes stake by 67.3% in the third quarter, purchasing 101,411 additional shares and bringing its holdings to 252,090 shares worth approximately $13.84 million.
• Institutional ownership remains high at 92.06%, with several major investors—including Amundi, Assenagon Asset Management and Baird Financial—also expanding their positions.
• Baker Hughes exceeded quarterly expectations with $0.64 EPS versus a $0.51 estimate and $6.74 billion in revenue. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $72.10, compared with the stock’s reported $55.86 price.

Apollon Wealth Management LLC boosted its position in Baker Hughes Company (NASDAQ:BKR - Free Report) by 67.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 252,090 shares of the company's stock after purchasing an additional 101,411 shares during the period. Apollon Wealth Management LLC's holdings in Baker Hughes were worth $13,840,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BKR. Amundi raised its position in Baker Hughes by 28.2% in the first quarter. Amundi now owns 10,946,464 shares of the company's stock worth $668,282,000 after acquiring an additional 2,409,978 shares in the last quarter. Advent International L.P. bought a new stake in Baker Hughes during the first quarter worth approximately $72,309,000. Assenagon Asset Management S.A. boosted its holdings in Baker Hughes by 1,289.3% during the third quarter. Assenagon Asset Management S.A. now owns 1,210,521 shares of the company's stock worth $72,630,000 after buying an additional 1,123,391 shares in the last quarter. Perpetual Ltd grew its position in Baker Hughes by 24.0% in the third quarter. Perpetual Ltd now owns 3,958,604 shares of the company's stock worth $217,327,000 after buying an additional 765,582 shares during the last quarter. Finally, Baird Financial Group Inc. grew its position in Baker Hughes by 341.0% in the second quarter. Baird Financial Group Inc. now owns 731,926 shares of the company's stock worth $40,622,000 after buying an additional 565,947 shares during the last quarter. 92.06% of the stock is owned by institutional investors.

Baker Hughes Stock Performance

NASDAQ BKR opened at $55.86 on Monday. Baker Hughes Company has a twelve month low of $44.26 and a twelve month high of $70.41. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.76 and a current ratio of 2.09. The stock has a market cap of $55.45 billion, a price-to-earnings ratio of 18.02, a PEG ratio of 2.66 and a beta of 1.04. The firm's 50 day moving average price is $58.94 and its two-hundred day moving average price is $60.61.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its earnings results on Monday, July 27th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.13. The company had revenue of $6.74 billion during the quarter, compared to analyst estimates of $6.54 billion. Baker Hughes had a return on equity of 13.85% and a net margin of 11.17%. The company's revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 earnings per share. Equities analysts anticipate that Baker Hughes Company will post 2.57 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BKR. Royal Bank Of Canada upped their price target on Baker Hughes from $71.00 to $76.00 and gave the company an "outperform" rating in a report on Tuesday, August 25th. Morgan Stanley began coverage on Baker Hughes in a research note on Friday, August 7th. They set an "overweight" rating and a $70.00 price objective for the company. Stifel Nicolaus lifted their target price on Baker Hughes from $74.00 to $75.00 and gave the stock a "buy" rating in a report on Tuesday, July 28th. Wall Street Zen lowered Baker Hughes from a "buy" rating to a "hold" rating in a research report on Wednesday, August 5th. Finally, Barclays cut their target price on Baker Hughes from $74.00 to $72.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $72.10.

About Baker Hughes

Baker Hughes Company NASDAQ: BKR is an energy technology company that provides products, services and digital solutions for the oil and gas industry and other energy-related markets. Its offerings support the exploration, drilling, completion, production and maintenance of energy assets across the lifecycle of a project.

The company's oilfield services and equipment business provides technologies such as drilling systems, well completions, artificial lift, subsea equipment, production chemicals and well intervention services.

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