Baker Hughes Company $BKR Shares Purchased by Erste Asset Management GmbH

Erste Asset Management GmbH increased its stake in shares of Baker Hughes Company (NASDAQ:BKR) by 32.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,100 shares of the company’s stock after purchasing an additional 9,800 shares during the quarter. Erste Asset Management GmbH’s holdings in Baker Hughes were worth $1,820,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BKR. Pinion Investment Advisors LLC purchased a new stake in Baker Hughes during the 4th quarter worth about $778,000. Nordea Investment Management AB lifted its holdings in Baker Hughes by 12.7% during the 4th quarter. Nordea Investment Management AB now owns 2,755,743 shares of the company’s stock worth $125,813,000 after buying an additional 309,996 shares during the last quarter. Legal & General Group Plc lifted its holdings in Baker Hughes by 5.4% during the 3rd quarter. Legal & General Group Plc now owns 7,147,684 shares of the company’s stock worth $348,234,000 after buying an additional 367,728 shares during the last quarter. Cibc World Market Inc. lifted its holdings in Baker Hughes by 13.6% during the 3rd quarter. Cibc World Market Inc. now owns 829,816 shares of the company’s stock worth $40,429,000 after buying an additional 99,314 shares during the last quarter. Finally, Johnson Investment Counsel Inc. lifted its holdings in Baker Hughes by 10,225.3% during the 3rd quarter. Johnson Investment Counsel Inc. now owns 849,566 shares of the company’s stock worth $41,391,000 after buying an additional 841,338 shares during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Stock Down 2.0%

Baker Hughes stock opened at $63.55 on Wednesday. Baker Hughes Company has a fifty-two week low of $37.38 and a fifty-two week high of $70.41. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.77 and a current ratio of 2.13. The company has a market capitalization of $63.05 billion, a P/E ratio of 20.30, a PEG ratio of 2.31 and a beta of 0.93. The stock has a 50-day simple moving average of $63.96 and a 200-day simple moving average of $57.63.

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

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $0.92 annualized dividend and a yield of 1.4%. Baker Hughes’s dividend payout ratio is currently 29.39%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Argus lifted their price target on Baker Hughes from $67.00 to $79.00 in a report on Friday, May 1st. TD Cowen boosted their target price on Baker Hughes from $64.00 to $75.00 and gave the company a “buy” rating in a report on Monday, April 27th. Wall Street Zen downgraded Baker Hughes from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Royal Bank Of Canada boosted their target price on Baker Hughes from $68.00 to $71.00 and gave the company an “outperform” rating in a report on Monday, April 27th. Finally, Zacks Research downgraded Baker Hughes from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 28th. Eighteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Baker Hughes has an average rating of “Moderate Buy” and an average target price of $69.14.

Insider Buying and Selling

In other Baker Hughes news, CAO Rebecca L. Charlton sold 5,088 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total transaction 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. This represents a 24.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 corporate 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.