Baker Hughes Company $BKR Shares Bought by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in Baker Hughes Company (NASDAQ:BKR) by 7.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,159,303 shares of the company’s stock after acquiring an additional 84,500 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund owned about 0.12% of Baker Hughes worth $70,775,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Woodline Partners LP grew its stake in shares of Baker Hughes by 40.8% during 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 during the period. Focus Partners Wealth raised its holdings in Baker Hughes by 5.6% in the first quarter. Focus Partners Wealth now owns 18,481 shares of the company’s stock valued at $812,000 after acquiring an additional 986 shares in the last quarter. Jump Financial LLC bought a new position in shares of Baker Hughes during the second quarter worth about $2,301,000. NewEdge Advisors LLC lifted its holdings in Baker Hughes by 4.0% during the 2nd quarter. NewEdge Advisors LLC now owns 46,407 shares of the company’s stock worth $1,779,000 after buying an additional 1,768 shares during the last quarter. Finally, Nebula Research & Development LLC bought a new position in Baker Hughes during the second quarter worth $1,014,000. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 181,411 shares of Baker Hughes stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $58.43, for a total value of $10,599,844.73. Following the completion of the sale, the chief executive officer directly owned 703,444 shares in the company, valued at $41,102,232.92. The trade was a 20.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Rebecca L. Charlton sold 5,088 shares of the firm’s stock in a transaction dated 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 owned 15,997 shares in the company, valued at approximately $1,027,327.34. This trade represents a 24.13% 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. Over the last quarter, insiders have sold 367,910 shares of company stock valued at $22,420,797. 0.19% of the stock is owned by corporate insiders.

Baker Hughes Price Performance

BKR stock opened at $52.78 on Friday. The firm has a 50-day moving average of $63.14 and a two-hundred day moving average of $58.79. Baker Hughes Company has a one year low of $38.37 and a one year high of $70.41. The company has a current ratio of 2.13, a quick ratio of 1.77 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $52.36 billion, a PE ratio of 16.86, a P/E/G ratio of 1.93 and a beta of 0.96.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.09. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. The firm had revenue of $6.59 billion for the quarter, compared to analysts’ expectations of $6.71 billion. During the same period in the previous year, the company posted $0.51 EPS. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, analysts forecast that Baker Hughes Company will post 2.29 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 $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.7%. The ex-dividend date was Tuesday, May 5th. Baker Hughes’s dividend payout ratio is currently 29.39%.

Analyst Ratings Changes

A number of equities analysts have commented on BKR shares. Evercore restated an “outperform” rating and issued a $76.00 target price on shares of Baker Hughes in a research note on Monday, April 27th. Zacks Research raised shares of Baker Hughes from a “strong sell” rating to a “hold” rating in a research note on Monday, June 15th. Wall Street Zen lowered shares of Baker Hughes from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. HSBC raised their price target on Baker Hughes from $67.00 to $85.00 and gave the company a “buy” rating in a report on Monday, April 27th. Finally, Piper Sandler raised their price objective on shares of Baker Hughes from $64.00 to $72.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Seventeen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.57.

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.