418,227 Shares in Baker Hughes Company $BKR Purchased by Nykredit A S

Nykredit A S purchased a new stake in shares of Baker Hughes Company (NASDAQ:BKR) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 418,227 shares of the company’s stock, valued at approximately $23,212,000.

Several other institutional investors have also added to or reduced their stakes in the company. B. Metzler seel. Sohn & Co. AG raised its stake in shares of Baker Hughes by 22.5% in the second quarter. B. Metzler seel. Sohn & Co. AG now owns 232,646 shares of the company’s stock valued at $12,912,000 after acquiring an additional 42,723 shares during the period. Tsfg LLC boosted its holdings in shares of Baker Hughes by 96.6% in the second quarter. Tsfg LLC now owns 2,919 shares of the company’s stock valued at $162,000 after purchasing an additional 1,434 shares during the period. Aubrey Capital Management Ltd purchased a new stake in shares of Baker Hughes in the 2nd quarter worth $2,735,000. Proficio Capital Partners LLC purchased a new position in shares of Baker Hughes during the second quarter valued at $226,000. Finally, Quantitative Investment Management LLC raised its holdings in shares of Baker Hughes by 621.0% in the second quarter. Quantitative Investment Management LLC now owns 35,474 shares of the company’s stock valued at $1,968,000 after acquiring an additional 30,554 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 181,411 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $58.43, for a total transaction of $10,599,844.73. Following the completion of the sale, the chief executive officer owned 703,444 shares in the company, valued at approximately $41,102,232.92. This represents a 20.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BKR. TD Cowen increased their target price on shares of Baker Hughes from $77.00 to $78.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Weiss Ratings downgraded shares of Baker Hughes from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, July 13th. Jefferies Financial Group reissued a “buy” rating on shares of Baker Hughes in a report on Thursday, July 9th. Stifel Nicolaus boosted their price objective on shares of Baker Hughes from $74.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Finally, UBS Group set a $51.00 target price on Baker Hughes in a report on Tuesday, July 28th. Seventeen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.67.

Baker Hughes Stock Down 1.5%

NASDAQ:BKR opened at $63.64 on Friday. The company’s 50-day simple moving average is $59.75 and its 200-day simple moving average is $61.55. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.76 and a current ratio of 2.09. Baker Hughes Company has a fifty-two week low of $43.92 and a fifty-two week high of $70.41. The stock has a market capitalization of $63.17 billion, a P/E ratio of 20.53, a P/E/G ratio of 2.89 and a beta of 0.96.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Sunday, July 26th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.51 by $0.13. Baker Hughes had a net margin of 11.17% and a return on equity of 13.85%. The firm had revenue of $6.74 billion during the quarter, compared to analyst estimates of $6.54 billion. During the same quarter in the previous year, the business posted $0.63 EPS. Baker Hughes’s revenue was up 2.4% on a year-over-year basis. On average, equities analysts anticipate that Baker Hughes Company will post 2.51 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Friday, August 7th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Friday, August 7th. Baker Hughes’s payout ratio is currently 29.68%.

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.