DNB Asset Management AS Has $7.56 Million Holdings in Baker Hughes Company $BKR

DNB Asset Management AS raised its stake in shares of Baker Hughes Company (NASDAQ:BKR) by 7.6% in the second quarter, Holdings Channel.com reports. The firm owned 197,076 shares of the company’s stock after buying an additional 13,986 shares during the period. DNB Asset Management AS’s holdings in Baker Hughes were worth $7,556,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Nuveen LLC bought a new position in shares of Baker Hughes in the first quarter valued at approximately $404,385,000. 1832 Asset Management L.P. purchased a new stake in Baker Hughes in the 1st quarter valued at $70,685,000. Strs Ohio bought a new position in Baker Hughes during the 1st quarter valued at $60,490,000. AQR Capital Management LLC boosted its holdings in Baker Hughes by 27.8% during the 1st quarter. AQR Capital Management LLC now owns 5,457,164 shares of the company’s stock worth $234,958,000 after acquiring an additional 1,185,456 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Baker Hughes by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 123,291,916 shares of the company’s stock worth $4,727,012,000 after acquiring an additional 1,173,700 shares during the last quarter. 92.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on BKR. UBS Group raised their price target on shares of Baker Hughes from $46.00 to $48.00 and gave the company a “neutral” rating in a research report on Monday, October 6th. Citigroup dropped their target price on shares of Baker Hughes from $56.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, October 27th. Melius started coverage on Baker Hughes in a research note on Wednesday, August 20th. They issued a “buy” rating and a $60.00 target price on the stock. Stifel Nicolaus increased their price target on Baker Hughes from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, October 27th. Finally, HSBC boosted their price objective on Baker Hughes from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. Twenty-three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Baker Hughes has an average rating of “Moderate Buy” and an average price target of $53.42.

Insider Activity

In other news, CAO Rebecca L. Charlton sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total value of $50,000.00. Following the sale, the chief accounting officer owned 11,772 shares of the company’s stock, valued at $588,600. The trade was a 7.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Sreeganesh Ramaswamy sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total transaction of $1,250,000.00. Following the sale, the executive vice president owned 40,520 shares in the company, valued at $2,026,000. The trade was a 38.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.27% of the stock is owned by corporate insiders.

Baker Hughes Trading Up 1.7%

NASDAQ:BKR opened at $48.88 on Friday. Baker Hughes Company has a 12 month low of $33.60 and a 12 month high of $50.92. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. The firm’s 50 day moving average is $47.71 and its 200 day moving average is $43.26. The stock has a market capitalization of $48.23 billion, a PE ratio of 16.86, a price-to-earnings-growth ratio of 2.06 and a beta of 1.03.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Friday, November 18th. The company reported $0.16 earnings per share (EPS) for the quarter. The business had revenue of $5.09 billion during the quarter. Baker Hughes had a return on equity of 14.22% and a net margin of 10.43%. Sell-side analysts expect that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Tuesday, November 4th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Tuesday, November 4th. Baker Hughes’s payout ratio is currently 31.72%.

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.