Danske Bank A S Purchases 1,555,283 Shares of Baker Hughes Company $BKR

Danske Bank A S increased its position in shares of Baker Hughes Company (NASDAQ:BKR) by 1,758.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,643,742 shares of the company’s stock after acquiring an additional 1,555,283 shares during the period. Danske Bank A S’s holdings in Baker Hughes were worth $74,856,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Krilogy Financial LLC increased its holdings in Baker Hughes by 3.2% during the 4th quarter. Krilogy Financial LLC now owns 5,722 shares of the company’s stock worth $261,000 after acquiring an additional 180 shares during the period. Formidable Asset Management LLC increased its holdings in Baker Hughes by 3.2% during the 4th quarter. Formidable Asset Management LLC now owns 7,341 shares of the company’s stock worth $358,000 after acquiring an additional 225 shares during the period. CoreCap Advisors LLC increased its holdings in Baker Hughes by 16.4% during the 4th quarter. CoreCap Advisors LLC now owns 1,619 shares of the company’s stock worth $74,000 after acquiring an additional 228 shares during the period. AMG National Trust Bank increased its holdings in Baker Hughes by 3.7% during the 3rd quarter. AMG National Trust Bank now owns 6,831 shares of the company’s stock worth $333,000 after acquiring an additional 246 shares during the period. Finally, JFS Wealth Advisors LLC increased 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 period. Institutional investors own 92.06% of the company’s stock.

Insider Buying and Selling at Baker Hughes

In other news, Director William G. Beattie sold 18,023 shares of the company’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $57.29, for a total value of $1,032,537.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Maria Georgia Magno sold 5,063 shares of the company’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $59.04, for a total transaction of $298,919.52. Following the completion of the sale, the insider directly owned 15,555 shares of the company’s stock, valued at $918,367.20. This trade represents a 24.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 590,251 shares of company stock worth $35,311,023 over the last 90 days. Company insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Zacks Research lowered shares of Baker Hughes from a “hold” rating to a “strong sell” rating in a report on Tuesday. Barclays increased their price target on shares of Baker Hughes from $57.00 to $62.00 and gave the stock an “overweight” rating in a report on Monday. Capital One Financial increased their price target on shares of Baker Hughes from $60.00 to $66.00 and gave the stock an “overweight” rating in a report on Friday, April 10th. Piper Sandler increased their price target on shares of Baker Hughes from $64.00 to $72.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, UBS Group increased their price target on shares of Baker Hughes from $69.00 to $73.00 and gave the stock a “neutral” rating in a report on Monday. Nineteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.09.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $69.67 on Friday. The company’s fifty day moving average price is $61.92 and its 200-day moving average price is $54.29. The firm has a market capitalization of $68.85 billion, a price-to-earnings ratio of 22.26, a PEG ratio of 2.41 and a beta of 0.90. Baker Hughes Company has a one year low of $35.10 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.

Baker Hughes (NASDAQ:BKR) last issued its quarterly 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 firm had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.71 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.51 EPS. On average, equities research analysts anticipate that Baker Hughes Company will post 2.32 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

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