Tredje AP fonden Takes Position in Baker Hughes Company $BKR

Tredje AP fonden acquired a new stake in shares of Baker Hughes Company (NASDAQ:BKR) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,118,446 shares of the company’s stock, valued at approximately $50,934,000.

Other institutional investors have also recently made changes to their positions in the company. Activest Wealth Management grew its position in shares of Baker Hughes by 1,242.5% during the third quarter. Activest Wealth Management now owns 537 shares of the company’s stock valued at $26,000 after purchasing an additional 497 shares in the last quarter. JFS Wealth Advisors LLC grew its position in shares of Baker Hughes by 45.1% during the fourth quarter. JFS Wealth Advisors LLC now owns 811 shares of the company’s stock valued at $37,000 after purchasing an additional 252 shares in the last quarter. Wolff Wiese Magana LLC grew its position in shares of Baker Hughes by 55.6% during the fourth quarter. Wolff Wiese Magana LLC now owns 840 shares of the company’s stock valued at $38,000 after purchasing an additional 300 shares in the last quarter. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Baker Hughes during the third quarter valued at about $65,000. Finally, Hilltop National Bank lifted its holdings in shares of Baker Hughes by 26.7% in the 4th quarter. Hilltop National Bank now owns 1,423 shares of the company’s stock valued at $65,000 after acquiring an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Up 3.3%

Shares of NASDAQ:BKR opened at $66.21 on Tuesday. The company has a current ratio of 2.13, a quick ratio of 1.77 and a debt-to-equity ratio of 0.79. The company has a market cap of $65.68 billion, a price-to-earnings ratio of 21.15, a PEG ratio of 2.33 and a beta of 0.97. Baker Hughes Company has a 12 month low of $35.83 and a 12 month high of $70.41. The company has a 50-day moving average price of $62.28 and a 200 day moving average price of $55.74.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.09. The business had revenue of $6.59 billion during the quarter, compared to the consensus estimate of $6.71 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.51 earnings per share. As a group, equities research analysts predict that Baker Hughes Company will post 2.32 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th were paid a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $0.92 annualized dividend and a yield of 1.4%. Baker Hughes’s dividend payout ratio (DPR) is presently 29.39%.

Analyst Upgrades and Downgrades

BKR has been the subject of a number of analyst reports. Royal Bank Of Canada increased their price target on shares of Baker Hughes from $68.00 to $71.00 and gave the company an “outperform” rating in a report on Monday, April 27th. Zacks Research downgraded shares of Baker Hughes from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 28th. Argus increased their price target on shares of Baker Hughes from $67.00 to $79.00 in a report on Friday, May 1st. Wall Street Zen downgraded shares of Baker Hughes from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Finally, Capital One Financial increased their price target on shares of Baker Hughes from $60.00 to $66.00 and gave the company an “overweight” rating in a report on Friday, April 10th. Eighteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $69.18.

Insider Activity

In other Baker Hughes news, insider Maria Georgia Magno sold 5,063 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $59.04, for a total value of $298,919.52. Following the completion of the sale, the insider owned 15,555 shares of the company’s stock, valued at $918,367.20. This trade represents a 24.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Lorenzo Simonelli sold 272,594 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $58.79, for a total transaction of $16,025,801.26. Following the completion of the sale, the chief executive officer directly owned 866,444 shares of the company’s stock, valued at approximately $50,938,242.76. The trade was a 23.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 550,250 shares of company stock valued at $32,988,331. 0.19% of the stock is owned by insiders.

About Baker Hughes

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm’s roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE’s oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.