Synovus Financial Corp Sells 1,434 Shares of Baker Hughes (NASDAQ:BKR)

Synovus Financial Corp decreased its holdings in shares of Baker Hughes (NASDAQ:BKR – Get Rating) by 10.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,008 shares of the company’s stock after selling 1,434 shares during the period. Synovus Financial Corp’s holdings in Baker Hughes were worth $355,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of BKR. Cambridge Investment Research Advisors Inc. bought a new position in Baker Hughes in the 1st quarter worth $321,000. D.A. Davidson & CO. bought a new position in Baker Hughes in the 1st quarter worth $230,000. Cibc World Market Inc. boosted its holdings in Baker Hughes by 197.9% in the 1st quarter. Cibc World Market Inc. now owns 36,783 shares of the company’s stock worth $1,339,000 after buying an additional 24,434 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Baker Hughes by 4.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,748,743 shares of the company’s stock worth $172,934,000 after buying an additional 204,220 shares during the period. Finally, Vontobel Holding Ltd. boosted its holdings in Baker Hughes by 64.5% in the 1st quarter. Vontobel Holding Ltd. now owns 14,869 shares of the company’s stock worth $555,000 after buying an additional 5,828 shares during the period. Institutional investors own 97.40% of the company’s stock.

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Baker Hughes Trading Down 1.2 %

Shares of BKR stock opened at $28.88 on Tuesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.91 and a current ratio of 1.32. The stock has a market capitalization of $29.24 billion, a P/E ratio of -262.55 and a beta of 1.46. The company has a 50 day moving average price of $29.23 and a 200 day moving average price of $29.38. Baker Hughes has a fifty-two week low of $20.42 and a fifty-two week high of $38.65.

Baker Hughes (NASDAQ:BKR – Get Rating) last announced its quarterly earnings data on Wednesday, April 19th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. Baker Hughes had a negative net margin of 0.44% and a positive return on equity of 7.13%. The firm had revenue of $5.72 billion during the quarter, compared to analysts’ expectations of $5.52 billion. During the same quarter in the previous year, the business posted $0.15 earnings per share. The business’s quarterly revenue was up 18.2% compared to the same quarter last year. Equities research analysts predict that Baker Hughes will post 1.52 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BKR has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised shares of Baker Hughes from a “neutral” rating to an “overweight” rating and set a $32.00 target price for the company in a report on Wednesday, March 15th. BMO Capital Markets boosted their price target on shares of Baker Hughes from $33.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, February 2nd. Benchmark assumed coverage on shares of Baker Hughes in a research note on Thursday, January 19th. They issued a “buy” rating and a $36.00 price target on the stock. Morgan Stanley boosted their price target on shares of Baker Hughes from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 4th. Finally, Piper Sandler upgraded shares of Baker Hughes from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $34.00 to $43.00 in a research note on Wednesday, February 15th. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $35.63.

Baker Hughes Profile

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Baker Hughes Co is a holding company, which engages in the provision of oilfield products, services, and digital solutions. It operates through the Oilfield Services and Equipment (OFSE) and industrial and Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides services for onshore and offshore oilfield operations.

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