Capital Research & Management Co has recently announced that it has increased stake in Baker Hughes Company (NASDAQ:BKR) by 3.12%. After grabbing 120.13 million shares, the institutional investor is now in possession of 3.64 million shares of the Energy Company. The new investment brought the stake of investor firm to 12.00% having worth around $3.32 billion. Moreover, Capital Research & Management Co increased its share by 14.73 million to have a control over 109.51 million shares. And The Vanguard Group, Inc. raised its holdings to 9.03 million shares by acquiring 109.17 million shares or 10.90% of the stake.
Baker Hughes Company (BKR) concluded trading on 11/16/22 at a closing price of $30.23, with 5.73 million shares of worth about $173.09 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -12.73% during that period and on Wednesday the price saw a loss of about -2.14%. Currently the company’s common shares owned by public are about 1.01B shares, out of which, 999.97M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 26 analysts are covering the BKR stock and their offered price forecasts bring an average price target of $33.06. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $38.00 and could fall to a lowest price of $29.00. The stock’s current price level is 8.06% above of average price target set by the analysts, while a rise to estimated low would result in loss of -4.24% for the stock. However, touching the estimated high of $38.00 would mean a gain of 20.45% 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 88 times over the past 12 months. They bought 77,218,828 shares in 48 of the transactions. In 40 selling transactions, insiders dumped 122,978,238 shares.
American Funds Investment Company, Washington Mutual Investors Fund, and Vanguard Total Stock Market Index are the top 3 mutual funds which are holding stakes in Baker Hughes Company American Funds Investment Company is currently holding 55.16 million shares of worth totaling $1.53 billion. The company recently came buying 0.0 shares which brought its stake up to 5.51% of the company’s outstanding shares. Washington Mutual Investors Fund sold -2.99 million shares, after which its hold over company’s outstanding shares shrunk to 4.69%, leaving 46.99 million shares with the mutual fund that have a worth of about $1.3 billion. Vanguard Total Stock Market Index, after buying 30.22 million shares, have now control over 3.02% of the stake in the company. It holds 1.02 million shares of worth $835.77 million.
Baker Hughes Company (NASDAQ: BKR) started trading at $30.82, below -$0.07 from concluding price of the previous day. However, the stock later moved at a day high price of 31.11, or with a loss of -2.14%. Stock saw a price change of 2.44% in past 5 days and over the past one month there was a price change of 25.02%. Year-to-date (YTD), BKR shares are showing a performance of 25.64% which increased to 19.87% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $20.42 but also hit the highest price of $39.78 during that period. The average intraday trading volume for Baker Hughes Company shares is 9.42 million. The stock is currently trading 6.79% above its 20-day simple moving average (SMA20), while that difference is up 19.90% for SMA50 and it goes to 2.62% higher than SMA200.
Capital Research & Management Co acquired 120.13 million shares of Baker Hughes Company having value of about $3.32 billion. Data submitted at the U.S SEC by Capital Research & Management Co revealed that the firm now holds 3.64 million shares in the company valued at close to $110007423.45, or have control over 3.12% stake in the company. Holding of mutual funds in the company is about 7.82% while other institutional holders and individual stake holders have control over 73.80% and 24.44% of the stake respectively.
The stock has a current market capitalization of $30.05B and its 3Y-monthly beta is at 1.53. It has posted earnings per share of -$0.45 in the same period. It has Quick Ratio of 1.10 while making debt-to-equity ratio of 0.47. 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 2.98% while standing at 3.47% over the month.
Analysts are in expectations that Baker Hughes Company (BKR) stock would likely to be making an EPS of $0.39 in the current quarter, while forecast for next quarter EPS is $0.31 and it is $1.66 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.32 which is $0.44 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 $0.25 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 98.20% while it is estimated to increase by 79.87% in next year. EPS is likely to grow at an annualized rate of 49.30% for next 5-years, compared to annual growth of 46.90% made by the stock over the past 5-years.
Analysts at 26 brokerage firms have issued recommendations for the Baker Hughes Company (BKR)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.00. Out of those 26 Wall Street analysts, 17 recommended a “Buy” rating, while 7 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 Wells Fargo on October 26, 2022 offering an Equal weight rating for the stock and assigned a target price of $29 to it. Coverage by Jefferies stated Baker Hughes Company (BKR) stock as a Buy in their note to investors on October 19, 2022, suggesting a price target of $35 for the stock. On April 26, 2022, HSBC Securities Upgrade their recommendations, while on March 31, 2022, Wells Fargo Upgrade their ratings for the stock with a price target of $43. Stock get a Positive rating from Susquehanna on January 21, 2022.