PKO Investment Management Joint Stock Co Invests $1.10 Million in Baker Hughes Company $BKR

PKO Investment Management Joint Stock Co acquired a new position in shares of Baker Hughes Company (NASDAQ:BKR) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 18,000 shares of the company’s stock, valued at approximately $1,099,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Cardano Risk Management B.V. boosted its stake in Baker Hughes by 1,005.1% in the 4th quarter. Cardano Risk Management B.V. now owns 49,353,310 shares of the company’s stock worth $2,247,550,000 after purchasing an additional 44,887,481 shares during the period. Norges Bank acquired a new stake in shares of Baker Hughes in the 4th quarter valued at about $1,022,491,000. Capital International Investors bought a new stake in shares of Baker Hughes in the third quarter valued at about $729,670,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Baker Hughes by 58.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,635,780 shares of the company’s stock valued at $529,896,000 after purchasing an additional 4,278,573 shares in the last quarter. Finally, Bessemer Group Inc. boosted its position in shares of Baker Hughes by 12,983.5% during the fourth quarter. Bessemer Group Inc. now owns 3,491,322 shares of the company’s stock worth $158,994,000 after buying an additional 3,464,637 shares during the period. 92.06% of the stock is owned by institutional investors.

Baker Hughes Stock Performance

Shares of NASDAQ BKR opened at $58.68 on Wednesday. The company has a current ratio of 2.13, a quick ratio of 1.77 and a debt-to-equity ratio of 0.79. Baker Hughes Company has a 12 month low of $37.38 and a 12 month high of $70.41. The stock has a 50 day moving average of $63.85 and a 200-day moving average of $58.43. The company has a market capitalization of $58.21 billion, a P/E ratio of 18.75, a P/E/G ratio of 2.13 and a beta of 0.93.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.09. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The business had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same period in the previous year, the firm earned $0.51 EPS. The firm’s revenue was up 2.5% compared to the same quarter last year. As a group, equities research analysts predict that Baker Hughes Company will post 2.28 EPS for the current year.

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Tuesday, May 5th. Baker Hughes’s payout ratio is currently 29.39%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on BKR shares. HSBC increased their price objective on Baker Hughes from $67.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Stifel Nicolaus raised their price target on shares of Baker Hughes from $63.00 to $74.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Citigroup lowered their price objective on shares of Baker Hughes from $80.00 to $74.00 and set a “buy” rating on the stock in a report on Wednesday, June 3rd. Evercore reissued an “outperform” rating and issued a $76.00 price objective on shares of Baker Hughes in a research report on Monday, April 27th. Finally, Capital One Financial raised their target price on shares of Baker Hughes from $66.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, May 21st. Eighteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $69.14.

Insider Activity

In related news, CAO Rebecca L. Charlton sold 5,088 shares of Baker Hughes stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $64.22, for a total transaction of $326,751.36. Following the completion of the sale, the chief accounting officer owned 15,997 shares of the company’s stock, valued at approximately $1,027,327.34. The trade was a 24.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lorenzo Simonelli sold 181,411 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $63.36, for a total transaction of $11,494,200.96. Following the completion of the transaction, the chief executive officer owned 784,944 shares in the company, valued at approximately $49,734,051.84. This trade represents a 18.77% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.19% of the stock is owned by corporate 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.