Retirement Systems of Alabama Has $8.06 Million Holdings in Baker Hughes (NASDAQ:BKR)

Retirement Systems of Alabama lessened its position in Baker Hughes (NASDAQ:BKRFree Report) by 0.8% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 228,292 shares of the company’s stock after selling 1,794 shares during the period. Retirement Systems of Alabama’s holdings in Baker Hughes were worth $8,063,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Versor Investments LP grew its stake in Baker Hughes by 193.5% in the third quarter. Versor Investments LP now owns 48,085 shares of the company’s stock valued at $1,698,000 after acquiring an additional 31,700 shares during the period. Los Angeles Capital Management LLC grew its stake in Baker Hughes by 42.8% in the third quarter. Los Angeles Capital Management LLC now owns 1,856,136 shares of the company’s stock valued at $65,559,000 after acquiring an additional 556,335 shares during the period. Victory Capital Management Inc. boosted its position in shares of Baker Hughes by 20.8% during the third quarter. Victory Capital Management Inc. now owns 935,590 shares of the company’s stock valued at $33,045,000 after buying an additional 161,031 shares during the last quarter. Ieq Capital LLC boosted its position in shares of Baker Hughes by 85.6% during the third quarter. Ieq Capital LLC now owns 30,716 shares of the company’s stock valued at $1,085,000 after buying an additional 14,167 shares during the last quarter. Finally, Empower Advisory Group LLC boosted its position in shares of Baker Hughes by 0.4% during the third quarter. Empower Advisory Group LLC now owns 1,915,953 shares of the company’s stock valued at $67,671,000 after buying an additional 8,136 shares during the last quarter. Institutional investors and hedge funds own 92.22% of the company’s stock.

Baker Hughes Stock Performance

Shares of BKR opened at $28.50 on Thursday. The firm has a market cap of $28.68 billion, a PE ratio of 14.92 and a beta of 1.43. The stock’s fifty day moving average price is $32.55 and its two-hundred day moving average price is $34.32. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.25 and a quick ratio of 0.86. Baker Hughes has a 1 year low of $26.12 and a 1 year high of $37.58.

Baker Hughes (NASDAQ:BKRGet Free Report) last issued its earnings results on Wednesday, January 24th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.04. The firm had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.93 billion. Baker Hughes had a return on equity of 10.63% and a net margin of 7.62%. The business’s revenue was up 15.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.38 earnings per share. On average, equities research analysts forecast that Baker Hughes will post 2.06 EPS for the current year.

Wall Street Analyst Weigh In

BKR has been the topic of several analyst reports. Barclays cut their target price on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a research report on Friday, January 26th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $39.00 target price on shares of Baker Hughes in a research report on Thursday, January 25th. Citigroup cut their target price on Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, January 26th. Wolfe Research cut Baker Hughes from an “outperform” rating to a “peer perform” rating in a research report on Monday. Finally, Morgan Stanley lifted their target price on Baker Hughes from $37.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, October 17th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Baker Hughes presently has a consensus rating of “Moderate Buy” and an average target price of $40.18.

Read Our Latest Stock Analysis on BKR

About Baker Hughes

(Free Report)

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. It operates through two segments: Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET). The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.

Further Reading

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Institutional Ownership by Quarter for Baker Hughes (NASDAQ:BKR)

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