Healthcare of Ontario Pension Plan Trust Fund Raises Stock Holdings in Baker Hughes Company $BKR

Healthcare of Ontario Pension Plan Trust Fund increased its position in Baker Hughes Company (NASDAQ:BKR) by 34.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,356,199 shares of the company’s stock after purchasing an additional 344,787 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned 0.14% of Baker Hughes worth $61,761,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BKR. Cardano Risk Management B.V. grew its stake in 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 worth $2,247,550,000 after purchasing an additional 44,887,481 shares during the period. Norges Bank purchased a new stake in shares of Baker Hughes in the fourth quarter worth $1,022,491,000. Capital International Investors purchased a new stake in shares of Baker Hughes in the third quarter worth $729,670,000. Bessemer Group Inc. grew its stake in shares of Baker Hughes by 12,983.5% in the fourth quarter. Bessemer Group Inc. now owns 3,491,322 shares of the company’s stock worth $158,994,000 after acquiring an additional 3,464,637 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in shares of Baker Hughes in the fourth quarter worth $144,262,000. 92.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. increased their target price on Baker Hughes from $60.00 to $74.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Johnson Rice assumed coverage on Baker Hughes in a research note on Wednesday, February 25th. They issued a “buy” rating and a $68.00 target price on the stock. Zacks Research cut Baker Hughes from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 28th. Royal Bank Of Canada increased their target price on Baker Hughes from $68.00 to $71.00 and gave the stock an “outperform” rating in a research note on Monday, April 27th. Finally, Argus increased their target price on Baker Hughes from $67.00 to $79.00 in a research note on Friday, May 1st. Eighteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $69.14.

Baker Hughes Stock Performance

Shares of NASDAQ:BKR opened at $63.14 on Monday. The company has a market cap of $62.64 billion, a P/E ratio of 20.17, a PEG ratio of 2.25 and a beta of 0.93. 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 Company has a 1 year low of $37.38 and a 1 year high of $70.41. The stock’s fifty day moving average price is $64.12 and its 200-day moving average price is $57.94.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.09. The firm had revenue of $6.59 billion for 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 company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.51 earnings per share. Sell-side analysts expect that Baker Hughes Company will post 2.31 earnings per share for the current year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, May 5th. Baker Hughes’s dividend payout ratio is presently 29.39%.

Insider Activity

In other news, CAO Rebecca L. Charlton sold 5,088 shares of the company’s stock in a transaction 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through 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 insiders.

Baker Hughes 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.