Varma Mutual Pension Insurance Co Buys 23,600 Shares of Baker Hughes Company $BKR

Varma Mutual Pension Insurance Co boosted its stake in shares of Baker Hughes Company (NASDAQ:BKR) by 8.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 297,829 shares of the company’s stock after purchasing an additional 23,600 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Baker Hughes were worth $14,510,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of BKR. Brandywine Global Investment Management LLC grew its position in Baker Hughes by 8.2% during the second quarter. Brandywine Global Investment Management LLC now owns 648,149 shares of the company’s stock valued at $24,850,000 after buying an additional 49,108 shares during the period. Synergy Asset Management LLC bought a new stake in shares of Baker Hughes during the 3rd quarter valued at $1,920,000. Cibc World Market Inc. increased its stake in shares of Baker Hughes by 13.6% in the 3rd quarter. Cibc World Market Inc. now owns 829,816 shares of the company’s stock worth $40,429,000 after purchasing an additional 99,314 shares in the last quarter. Webster Bank N. A. bought a new position in Baker Hughes in the 3rd quarter worth $3,434,000. Finally, Robeco Institutional Asset Management B.V. raised its holdings in Baker Hughes by 23.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 458,415 shares of the company’s stock worth $22,334,000 after purchasing an additional 88,536 shares during the period. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Price Performance

NASDAQ:BKR opened at $61.39 on Friday. The business’s 50-day moving average is $50.93 and its 200 day moving average is $48.19. Baker Hughes Company has a 12 month low of $33.60 and a 12 month high of $62.27. The company has a market capitalization of $60.58 billion, a P/E ratio of 23.61, a P/E/G ratio of 1.65 and a beta of 0.89. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 0.28.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Monday, January 26th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.11. The business had revenue of $7.39 billion for the quarter, compared to the consensus estimate of $7.09 billion. Baker Hughes had a return on equity of 14.26% and a net margin of 9.33%.The company’s revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.70 EPS. On average, equities research analysts forecast that Baker Hughes Company will post 2.59 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, February 27th. Shareholders of record on Tuesday, February 17th will be given a dividend of $0.23 per share. The ex-dividend date is Tuesday, February 17th. This represents a $0.92 annualized dividend and a yield of 1.5%. Baker Hughes’s dividend payout ratio (DPR) is 35.38%.

Insiders Place Their Bets

In other news, insider Maria Georgia Magno sold 19,150 shares of the business’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $59.11, for a total value of $1,131,956.50. Following the sale, the insider directly owned 14,588 shares in the company, valued at $862,296.68. The trade was a 56.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Rebecca L. Charlton sold 1,985 shares of Baker Hughes stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $55.77, for a total value of $110,703.45. Following the completion of the transaction, the chief accounting officer owned 12,052 shares of the company’s stock, valued at approximately $672,140.04. This represents a 14.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 40,001 shares of company stock valued at $2,322,692 in the last three months. Corporate insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

BKR has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price objective on Baker Hughes from $53.00 to $60.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 27th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $57.00 price target on shares of Baker Hughes in a report on Thursday, January 15th. Barclays increased their price objective on shares of Baker Hughes from $55.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 27th. BMO Capital Markets raised their price objective on shares of Baker Hughes from $55.00 to $65.00 and gave the company an “outperform” rating in a research report on Tuesday, January 27th. Finally, Evercore set a $54.00 price target on Baker Hughes in a research note on Monday, October 27th. Twenty research analysts have rated the stock with a Buy rating and two have given a Hold 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 $58.78.

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.