PFA Pension Forsikringsaktieselskab Purchases New Stake in Baker Hughes Company $BKR

PFA Pension Forsikringsaktieselskab acquired a new position in shares of Baker Hughes Company (NASDAQ:BKR) during the fourth quarter, Holdings Channel reports. The fund acquired 2,583,599 shares of the company’s stock, valued at approximately $119,078,000.

Other hedge funds have also recently bought and sold shares of the company. Activest Wealth Management boosted its holdings in Baker Hughes by 1,242.5% during the 3rd quarter. Activest Wealth Management now owns 537 shares of the company’s stock worth $26,000 after acquiring an additional 497 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. boosted its holdings in Baker Hughes by 104.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock worth $32,000 after acquiring an additional 337 shares during the last quarter. JFS Wealth Advisors LLC boosted 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 worth $37,000 after acquiring an additional 252 shares during the last quarter. Wolff Wiese Magana LLC boosted 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 worth $38,000 after acquiring an additional 300 shares during the last quarter. Finally, Spire Wealth Management boosted its holdings in Baker Hughes by 357.8% during the 3rd quarter. Spire Wealth Management now owns 1,021 shares of the company’s stock worth $50,000 after acquiring an additional 798 shares during the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Baker Hughes

In related news, insider Maria Georgia Magno sold 5,063 shares of the business’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $59.04, for a total value of $298,919.52. Following the sale, the insider directly owned 15,555 shares in the company, valued at approximately $918,367.20. The trade was a 24.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William G. Beattie sold 18,023 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $57.29, for a total value of $1,032,537.67. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 590,251 shares of company stock valued at $35,311,023. 0.19% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on BKR shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Baker Hughes in a report on Friday, April 24th. Zephirin Group lifted their price objective on shares of Baker Hughes from $40.00 to $45.00 and gave the stock a “hold” rating in a report on Monday, January 26th. Stifel Nicolaus lifted their price objective on shares of Baker Hughes from $63.00 to $74.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Jefferies Financial Group reaffirmed a “buy” rating and set a $80.00 price objective on shares of Baker Hughes in a report on Sunday, April 26th. Finally, Barclays lifted their target price on Baker Hughes from $57.00 to $62.00 and gave the stock an “overweight” rating in a research note on Monday. Nineteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $68.09.

Baker Hughes Trading Down 0.8%

NASDAQ BKR opened at $69.12 on Friday. The stock has a market capitalization of $68.57 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 2.44 and a beta of 0.97. Baker Hughes Company has a one year low of $35.83 and a one year high of $70.41. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.13 and a quick ratio of 1.77. The business’s fifty day moving average is $61.92 and its 200-day moving average is $54.29.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Thursday, April 23rd. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.09. The company had revenue of $6.59 billion for the quarter, compared to analysts’ expectations of $6.71 billion. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.51 EPS. Equities research analysts predict that Baker Hughes Company will post 2.32 EPS for the current year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Tuesday, May 5th. Baker Hughes’s payout ratio is presently 29.39%.

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.