Robeco Institutional Asset Management B.V. Acquires 132,254 Shares of Baker Hughes Company $BKR

Key Points

• Robeco Institutional Asset Management increased its Baker Hughes stake by 6.8% in the third quarter, acquiring 132,254 shares and bringing its holdings to 2.07 million shares worth approximately $113.6 million.
• Institutional investors own 92.06% of Baker Hughes, while several other funds also increased their positions during the quarter.
• Analysts maintain a generally positive view, with the stock receiving a “Moderate Buy” consensus rating and an average price target of $72.10. Baker Hughes also exceeded quarterly earnings and revenue expectations.

Robeco Institutional Asset Management B.V. increased its stake in Baker Hughes Company (NASDAQ:BKR - Free Report) by 6.8% during the third quarter, according to its most recent filing with the SEC. The fund owned 2,069,093 shares of the company's stock after buying an additional 132,254 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.21% of Baker Hughes worth $113,593,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Net Worth Advisory Group raised its stake in shares of Baker Hughes by 58.7% in the third quarter. Net Worth Advisory Group now owns 8,994 shares of the company's stock valued at $500,000 after buying an additional 3,325 shares during the period. Columbia Asset Management lifted its position in shares of Baker Hughes by 24.1% during the 3rd quarter. Columbia Asset Management now owns 7,470 shares of the company's stock valued at $410,000 after buying an additional 1,450 shares during the last quarter. SteelPeak Wealth LLC bought a new position in shares of Baker Hughes during the 3rd quarter worth $288,000. IFP Advisors Inc grew its stake in shares of Baker Hughes by 6.3% during the 3rd quarter. IFP Advisors Inc now owns 17,858 shares of the company's stock worth $980,000 after acquiring an additional 1,056 shares during the period. Finally, Frank Rimerman Advisors LLC grew its stake in shares of Baker Hughes by 59.7% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 9,598 shares of the company's stock worth $527,000 after acquiring an additional 3,587 shares during the period. Institutional investors own 92.06% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. TD Cowen decreased their price objective on Baker Hughes from $78.00 to $76.00 and set a "buy" rating for the company in a report on Tuesday, September 29th. Zacks Research raised shares of Baker Hughes from a "hold" rating to a "strong-buy" rating in a report on Wednesday, September 16th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $71.00 price objective on shares of Baker Hughes in a report on Tuesday, September 29th. Wolfe Research initiated coverage on shares of Baker Hughes in a research report on Wednesday, July 8th. They set an "outperform" rating and a $70.00 target price for the company. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Baker Hughes in a research note on Friday, October 9th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, Baker Hughes has an average rating of "Moderate Buy" and a consensus target price of $72.10.

Baker Hughes Stock Performance

NASDAQ:BKR opened at $56.00 on Thursday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.76 and a current ratio of 2.09. Baker Hughes Company has a 52-week low of $44.26 and a 52-week high of $70.41. The firm has a market cap of $55.59 billion, a price-to-earnings ratio of 20.76, a PEG ratio of 2.65 and a beta of 1.04. The business's fifty day moving average is $59.32 and its 200 day moving average is $60.69.

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.