After this afternoon's -1.4% drop to $44.25 per share, Baker Hughes might just keep moving past its target price of $44.1. With an average analyst rating of buy, and target prices from $34.0 to $53.0, the stock's next move is anyone's guess.
The stock has an average amount of shares sold short at 2.1%, and a short ratio of 2.88. The company's insiders own 0.12% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that a significant number of institutional investors are invested in the stock, with 98.0% of Baker Hughes's shares being owned by this investor type.
Institutions Invested in Baker Hughes
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2024-09-30 | Vanguard Group Inc | 15% | 121,540,862 | $5,378,183,143 |
| 2024-09-30 | Blackrock Inc. | 12% | 97,048,806 | $4,294,409,665 |
| 2024-09-30 | JP Morgan Chase & Company | 9% | 72,422,422 | $3,204,692,173 |
| 2024-09-30 | State Street Corporation | 8% | 67,011,981 | $2,965,280,159 |
| 2024-09-30 | Dodge & Cox Inc | 6% | 45,830,238 | $2,027,988,031 |
| 2024-09-30 | Capital World Investors | 4% | 32,482,309 | $1,437,342,173 |
| 2024-09-30 | Capital Research Global Investors | 3% | 27,510,358 | $1,217,333,341 |
| 2024-09-30 | Geode Capital Management, LLC | 3% | 24,078,093 | $1,065,455,615 |
| 2024-09-30 | FIL LTD | 2% | 19,508,434 | $863,248,204 |
| 2024-06-30 | Norges Bank Investment Management | 2% | 18,325,740 | $810,913,995 |
Besides an analyst consensus of little upside potential, other market factors point to there being mixed market sentiment on Baker Hughes.
