BI Asset Management Fondsmaeglerselskab A S Grows Stake in Baker Hughes Company $BKR

BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 9.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 189,034 shares of the company’s stock after acquiring an additional 16,809 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Baker Hughes were worth $8,609,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Cullen Frost Bankers Inc. grew its holdings in Baker Hughes by 344.1% during the 4th quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company’s stock valued at $27,000 after buying an additional 468 shares in the last quarter. JFS Wealth Advisors LLC grew its holdings in Baker Hughes by 45.1% during the 4th quarter. JFS Wealth Advisors LLC now owns 811 shares of the company’s stock valued at $37,000 after buying an additional 252 shares in the last quarter. Wolff Wiese Magana LLC grew its holdings in Baker Hughes by 55.6% during the 4th quarter. Wolff Wiese Magana LLC now owns 840 shares of the company’s stock valued at $38,000 after buying an additional 300 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its holdings in Baker Hughes by 23.5% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 1,421 shares of the company’s stock valued at $69,000 after buying an additional 270 shares in the last quarter. Finally, Hilltop National Bank grew its holdings in Baker Hughes by 26.7% during the 4th quarter. Hilltop National Bank now owns 1,423 shares of the company’s stock valued at $65,000 after buying an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Insider Activity

In other news, CEO Lorenzo Simonelli sold 272,594 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $58.79, for a total value of $16,025,801.26. Following the completion of the sale, the chief executive officer directly owned 866,444 shares of the company’s stock, valued at $50,938,242.76. This trade represents a 23.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Rebecca L. Charlton sold 5,088 shares of the firm’s 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 completion of the sale, the chief accounting officer directly owned 15,997 shares of the company’s stock, valued at $1,027,327.34. The trade was a 24.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 282,745 shares of company stock valued at $16,651,472 in the last ninety days. Insiders own 0.19% of the company’s stock.

Baker Hughes Price Performance

NASDAQ:BKR opened at $62.59 on Friday. The firm has a market capitalization of $62.09 billion, a price-to-earnings ratio of 20.00, a PEG ratio of 2.23 and a beta of 0.93. Baker Hughes Company has a 1 year low of $37.38 and a 1 year high of $70.41. The business has a 50 day simple moving average of $63.91 and a 200-day simple moving average of $57.34. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.13 and a quick ratio of 1.77.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.09. The business had revenue of $6.59 billion during the quarter, compared to analyst estimates of $6.71 billion. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period last year, the company earned $0.51 EPS. Equities analysts forecast that Baker Hughes Company will post 2.31 EPS for the current year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th were paid 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 was Tuesday, May 5th. Baker Hughes’s dividend payout ratio (DPR) is presently 29.39%.

Analysts Set New Price Targets

BKR has been the subject of several research analyst reports. Susquehanna raised their price target on Baker Hughes from $70.00 to $80.00 and gave the company a “positive” rating in a report on Monday, April 27th. UBS Group raised their price target on Baker Hughes from $69.00 to $73.00 and gave the company a “neutral” rating in a report on Monday, April 27th. BMO Capital Markets raised their price target on Baker Hughes from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, April 27th. Capital One Financial raised their price target on Baker Hughes from $66.00 to $71.00 and gave the company an “overweight” rating in a report on Thursday, May 21st. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Baker Hughes in a report on Friday, April 24th. Eighteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $69.14.

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.