Baker Hughes Company $BKR Shares Sold by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S decreased its stake in Baker Hughes Company (NASDAQ:BKR) by 12.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 172,225 shares of the company’s stock after selling 24,097 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Baker Hughes were worth $8,391,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of BKR. Woodline Partners LP lifted its stake in Baker Hughes by 40.8% in the 1st quarter. Woodline Partners LP now owns 83,650 shares of the company’s stock valued at $3,676,000 after buying an additional 24,225 shares in the last quarter. Focus Partners Wealth boosted its stake in shares of Baker Hughes by 5.6% in the first quarter. Focus Partners Wealth now owns 18,481 shares of the company’s stock worth $812,000 after acquiring an additional 986 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Baker Hughes during the second quarter worth approximately $97,000. Valeo Financial Advisors LLC acquired a new position in Baker Hughes in the 2nd quarter valued at $303,000. Finally, KLP Kapitalforvaltning AS lifted its holdings in Baker Hughes by 3.9% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 410,318 shares of the company’s stock valued at $15,732,000 after purchasing an additional 15,300 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Down 3.1%

Shares of BKR opened at $57.36 on Friday. The company’s 50-day moving average price is $49.94 and its 200 day moving average price is $47.60. Baker Hughes Company has a 12-month low of $33.60 and a 12-month high of $59.54. 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 has a market cap of $56.60 billion, a P/E ratio of 22.06, a price-to-earnings-growth ratio of 1.59 and a beta of 0.89.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Monday, January 26th. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.11. The business had revenue of $7.39 billion during the quarter, compared to analysts’ expectations of $7.09 billion. Baker Hughes had a net margin of 9.33% and a return on equity of 14.51%. The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same period last year, the business earned $0.70 earnings per share. On average, sell-side analysts forecast that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th will be given a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $0.92 dividend on an annualized basis and a yield of 1.6%. Baker Hughes’s payout ratio is presently 35.38%.

Insiders Place Their Bets

In other news, CAO Rebecca L. Charlton sold 1,985 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $55.77, for a total transaction of $110,703.45. Following the completion of the transaction, the chief accounting officer directly owned 12,052 shares in the company, valued at $672,140.04. This trade represents a 14.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William G. Beattie sold 18,023 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $57.29, for a total value of $1,032,537.67. The disclosure for this sale is available in the SEC filing. Insiders have sold 20,851 shares of company stock worth $1,190,736 over the last 90 days. 0.27% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

BKR has been the subject of a number of research reports. BMO Capital Markets upped their target price on shares of Baker Hughes from $55.00 to $65.00 and gave the stock an “outperform” rating in a report on Tuesday, January 27th. HSBC upped their price objective on shares of Baker Hughes from $54.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, October 27th. Zephirin Group raised their target price on shares of Baker Hughes from $40.00 to $45.00 and gave the stock a “hold” rating in a research note on Monday, January 26th. Susquehanna upped their price target on Baker Hughes from $58.00 to $65.00 and gave the company a “positive” rating in a research report on Tuesday, January 27th. Finally, Jefferies Financial Group boosted their price objective on Baker Hughes from $59.00 to $67.00 and gave the stock a “buy” rating in a research note on Saturday, January 31st. Twenty equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.30.

Baker Hughes Company Profile

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.