Varma Mutual Pension Insurance Co Purchases 23,600 Shares of Baker Hughes Company $BKR

Varma Mutual Pension Insurance Co boosted its position in shares of Baker Hughes Company (NASDAQ:BKR) by 8.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 297,829 shares of the company’s stock after purchasing an additional 23,600 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Baker Hughes were worth $14,510,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Activest Wealth Management raised its holdings in shares of Baker Hughes by 1,242.5% in the third quarter. Activest Wealth Management now owns 537 shares of the company’s stock worth $26,000 after buying an additional 497 shares during the period. E Fund Management Hong Kong Co. Ltd. boosted its stake in shares of Baker Hughes by 104.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock valued at $32,000 after purchasing an additional 337 shares during the period. Harbour Investments Inc. increased its stake in Baker Hughes by 61.7% in the 2nd quarter. Harbour Investments Inc. now owns 854 shares of the company’s stock worth $33,000 after buying an additional 326 shares during the period. LFA Lugano Financial Advisors SA bought a new stake in Baker Hughes during the 2nd quarter valued at about $36,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in Baker Hughes in the 2nd quarter valued at about $36,000. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Trading Up 0.2%

Baker Hughes stock opened at $61.39 on Friday. Baker Hughes Company has a one year low of $33.60 and a one year high of $62.27. The stock has a market cap of $60.58 billion, a PE ratio of 23.61, a price-to-earnings-growth ratio of 1.65 and a beta of 0.89. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.00 and a current ratio of 1.36. The stock has a 50-day moving average of $50.93 and a two-hundred day moving average of $48.19.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Monday, January 26th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.11. The firm had revenue of $7.39 billion for the quarter, compared to the consensus estimate of $7.09 billion. Baker Hughes had a net margin of 9.33% and a return on equity of 14.26%. The company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.70 earnings per share. On average, research analysts anticipate that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Tuesday, February 17th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, February 17th. Baker Hughes’s dividend payout ratio is presently 35.38%.

Analysts Set New Price Targets

A number of analysts recently issued reports on BKR shares. iA Financial set a $60.00 price target on Baker Hughes in a report on Tuesday, January 27th. UBS Group raised their price target on Baker Hughes from $54.00 to $61.00 and gave the company a “neutral” rating in a research note on Wednesday, January 28th. Susquehanna upped their price objective on shares of Baker Hughes from $58.00 to $65.00 and gave the stock a “positive” rating in a research note on Tuesday, January 27th. JPMorgan Chase & Co. boosted their price target on shares of Baker Hughes from $53.00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday, January 27th. Finally, TD Cowen lifted their price objective on shares of Baker Hughes from $55.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, January 27th. Twenty analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.78.

Insider Buying and Selling at Baker Hughes

In other news, Director William G. Beattie sold 18,023 shares of the stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $57.29, for a total value of $1,032,537.67. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Rebecca L. Charlton sold 843 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $56.34, for a total value of $47,494.62. Following the completion of the transaction, the chief accounting officer owned 14,019 shares of the company’s stock, valued at approximately $789,830.46. The trade was a 5.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 40,001 shares of company stock worth $2,322,692. 0.27% of the stock is currently owned by insiders.

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.