PensionDanmark Pensionsforsikringsaktieselskab Has $6.43 Million Position in Baker Hughes Company $BKR

PensionDanmark Pensionsforsikringsaktieselskab cut its stake in Baker Hughes Company (NASDAQ:BKR) by 41.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 115,950 shares of the company’s stock after selling 81,097 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Baker Hughes were worth $6,435,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. State Street Corp lifted its position in Baker Hughes by 1.6% during the fourth quarter. State Street Corp now owns 61,409,438 shares of the company’s stock worth $2,796,586,000 after acquiring an additional 937,614 shares during the last quarter. Cardano Risk Management B.V. grew its position in shares of Baker Hughes by 1,005.1% in the fourth quarter. Cardano Risk Management B.V. now owns 49,353,310 shares of the company’s stock valued at $2,247,550,000 after purchasing an additional 44,887,481 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Baker Hughes by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 26,213,363 shares of the company’s stock worth $1,189,194,000 after purchasing an additional 204,534 shares during the period. Norges Bank bought a new position in shares of Baker Hughes during the fourth quarter worth approximately $1,022,491,000. Finally, Capital International Investors increased its stake in shares of Baker Hughes by 6.4% during the fourth quarter. Capital International Investors now owns 15,933,590 shares of the company’s stock worth $725,616,000 after purchasing an additional 956,808 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Stock Performance

BKR opened at $61.55 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.76 and a current ratio of 2.09. Baker Hughes Company has a 52-week low of $41.96 and a 52-week high of $70.41. The firm has a market cap of $61.10 billion, a P/E ratio of 19.85, a price-to-earnings-growth ratio of 1.95 and a beta of 0.97. The business’s fifty day moving average is $59.03 and its 200-day moving average is $60.65.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Sunday, July 26th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.13. The business had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $6.54 billion. Baker Hughes had a return on equity of 13.85% and a net margin of 11.17%.Baker Hughes’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.63 earnings per share. Sell-side analysts expect that Baker Hughes Company will post 2.46 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Friday, August 7th will be given a $0.23 dividend. The ex-dividend date is Friday, August 7th. This represents a $0.92 annualized dividend and a dividend yield of 1.5%. Baker Hughes’s payout ratio is presently 29.68%.

Insider Buying and Selling

In related news, CAO Rebecca L. Charlton sold 5,088 shares of Baker Hughes stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $64.22, for a total value of $326,751.36. Following the transaction, the chief accounting officer directly owned 15,997 shares of the company’s stock, valued at $1,027,327.34. This trade represents a 24.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lorenzo Simonelli sold 181,411 shares of the business’s 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 transaction, the chief executive officer owned 703,444 shares of the company’s stock, valued at approximately $41,102,232.92. This represents a 20.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 367,910 shares of company stock valued at $22,420,797. 0.19% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on BKR shares. Wolfe Research initiated coverage on Baker Hughes in a research note on Wednesday, July 8th. They issued an “outperform” rating and a $70.00 price target for the company. HSBC lifted their target price on Baker Hughes from $67.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, April 27th. JPMorgan Chase & Co. boosted their target price on shares of Baker Hughes from $60.00 to $74.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Susquehanna upped their price target on shares of Baker Hughes from $70.00 to $72.00 and gave the company a “positive” rating in a research note on Tuesday, July 28th. Finally, Evercore reaffirmed an “outperform” rating and set a $76.00 price target on shares of Baker Hughes in a research report on Monday, April 27th. Eighteen equities research 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 stock currently has a consensus rating of “Moderate Buy” and an average price target of $69.95.

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.