418,227 Shares in Baker Hughes Company $BKR Purchased by Nykredit A S

Nykredit A S purchased a new stake in shares of Baker Hughes Company (NASDAQ:BKR) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 418,227 shares of the company’s stock, valued at approximately $23,212,000.

Several other hedge funds have also bought and sold shares of BKR. OP Asset Management Ltd bought a new stake in Baker Hughes in the first quarter worth $6,049,000. National Pension Service grew its stake in shares of Baker Hughes by 5.1% in the fourth quarter. National Pension Service now owns 1,317,478 shares of the company’s stock worth $59,998,000 after acquiring an additional 64,323 shares during the last quarter. Hsbc Holdings PLC increased its holdings in shares of Baker Hughes by 2.0% during the fourth quarter. Hsbc Holdings PLC now owns 1,892,101 shares of the company’s stock valued at $86,230,000 after acquiring an additional 37,473 shares in the last quarter. ABN AMRO Bank N.V. increased its holdings in shares of Baker Hughes by 6.5% during the first quarter. ABN AMRO Bank N.V. now owns 679,842 shares of the company’s stock valued at $41,625,000 after acquiring an additional 41,657 shares in the last quarter. Finally, Fifth Third Bancorp raised its position in shares of Baker Hughes by 367.1% in the 1st quarter. Fifth Third Bancorp now owns 199,621 shares of the company’s stock worth $12,187,000 after purchasing an additional 156,881 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Down 1.5%

BKR opened at $63.64 on Friday. The stock has a market cap of $63.17 billion, a price-to-earnings ratio of 20.53, a price-to-earnings-growth ratio of 2.89 and a beta of 0.96. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.76 and a current ratio of 2.09. The firm’s fifty day moving average is $59.75 and its 200 day moving average is $61.55. Baker Hughes Company has a fifty-two week low of $43.92 and a fifty-two week high of $70.41.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Sunday, July 26th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.13. Baker Hughes had a return on equity of 13.85% and a net margin of 11.17%.The firm had revenue of $6.74 billion during the quarter, compared to analyst estimates of $6.54 billion. During the same quarter in the prior year, the company posted $0.63 earnings per share. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, sell-side analysts forecast that Baker Hughes Company will post 2.51 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Friday, August 7th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.4%. The ex-dividend date was Friday, August 7th. Baker Hughes’s dividend payout ratio is presently 29.68%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BKR. Capital One Financial upped their price target on shares of Baker Hughes from $66.00 to $71.00 and gave the stock an “overweight” rating in a research note on Thursday, May 21st. Wall Street Zen cut shares of Baker Hughes from a “buy” rating to a “hold” rating in a report on Wednesday, August 5th. Barclays cut their price target on shares of Baker Hughes from $74.00 to $72.00 and set an “equal weight” rating on the stock in a report on Thursday, July 16th. Morgan Stanley began coverage on shares of Baker Hughes in a research report on Friday, August 7th. They set an “overweight” rating and a $70.00 price target for the company. Finally, Royal Bank Of Canada boosted their price objective on shares of Baker Hughes from $71.00 to $76.00 and gave the stock an “outperform” rating in a report on Tuesday, August 25th. Seventeen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $70.67.

Insider Transactions at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 181,411 shares of Baker Hughes stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $58.43, for a total transaction of $10,599,844.73. Following the sale, the chief executive officer owned 703,444 shares in the company, valued at $41,102,232.92. This trade represents a 20.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.19% of the stock is currently owned by company 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.