Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group Invests $5.71 Million in Baker Hughes Company (NASDAQ:BKR)

Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group purchased a new position in Baker Hughes Company (NASDAQ:BKR) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 130,000 shares of the company’s stock, valued at approximately $5,714,000. Baker Hughes makes up approximately 3.1% of Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group’s portfolio, making the stock its 8th largest holding.

Several other large investors have also recently made changes to their positions in BKR. Norges Bank acquired a new position in Baker Hughes during the 4th quarter valued at about $829,092,000. Neuberger Berman Group LLC increased its position in Baker Hughes by 2,527.6% during the 4th quarter. Neuberger Berman Group LLC now owns 3,319,418 shares of the company’s stock valued at $136,158,000 after buying an additional 3,193,089 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Baker Hughes during the 4th quarter valued at about $128,542,000. FMR LLC grew its stake in Baker Hughes by 12.5% during the 4th quarter. FMR LLC now owns 15,702,057 shares of the company’s stock valued at $644,098,000 after purchasing an additional 1,744,225 shares during the last quarter. Finally, Northern Trust Corp grew its stake in Baker Hughes by 18.4% during the 4th quarter. Northern Trust Corp now owns 10,000,756 shares of the company’s stock valued at $410,231,000 after purchasing an additional 1,553,536 shares during the last quarter. 92.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BKR. TD Cowen lowered their target price on Baker Hughes from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Stifel Nicolaus lowered their target price on Baker Hughes from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Wednesday. The Goldman Sachs Group lowered their target price on Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a research note on Wednesday, July 2nd. Citigroup lowered their target price on Baker Hughes from $54.00 to $53.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Finally, Piper Sandler lowered their price target on Baker Hughes from $53.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.44.

Baker Hughes Price Performance

Shares of NASDAQ:BKR traded up $0.39 during midday trading on Friday, hitting $39.57. The company had a trading volume of 1,118,440 shares, compared to its average volume of 7,164,693. Baker Hughes Company has a twelve month low of $32.25 and a twelve month high of $49.40. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.93. The stock has a market cap of $39.20 billion, a price-to-earnings ratio of 13.53, a price-to-earnings-growth ratio of 4.83 and a beta of 0.91. The business’s 50-day simple moving average is $38.28 and its 200-day simple moving average is $40.94.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.03. The company had revenue of $6.43 billion during the quarter, compared to analysts’ expectations of $6.54 billion. Baker Hughes had a return on equity of 14.70% and a net margin of 10.51%. On average, research analysts predict that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Tuesday, May 6th were issued a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $0.92 dividend on an annualized basis and a yield of 2.33%. Baker Hughes’s dividend payout ratio (DPR) is presently 31.40%.

Baker Hughes Profile

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. 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.