BI Asset Management Fondsmaeglerselskab A S Decreases Position in Baker Hughes Company $BKR

BI Asset Management Fondsmaeglerselskab A S decreased its holdings in Baker Hughes Company (NASDAQ:BKR) by 12.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 172,225 shares of the company’s stock after selling 24,097 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Baker Hughes were worth $8,391,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Activest Wealth Management increased its holdings in shares of Baker Hughes by 1,242.5% during the third quarter. Activest Wealth Management now owns 537 shares of the company’s stock valued at $26,000 after acquiring an additional 497 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. boosted its stake in Baker Hughes by 104.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock worth $32,000 after purchasing an additional 337 shares in the last quarter. Harbour Investments Inc. grew its position in Baker Hughes by 61.7% during the 2nd quarter. Harbour Investments Inc. now owns 854 shares of the company’s stock worth $33,000 after purchasing an additional 326 shares during the last quarter. LFA Lugano Financial Advisors SA acquired a new position in Baker Hughes during the 2nd quarter valued at approximately $36,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in Baker Hughes during the 2nd quarter valued at approximately $36,000. 92.06% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Rebecca L. Charlton sold 1,985 shares of the company’s 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William G. Beattie sold 18,023 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $57.29, for a total value of $1,032,537.67. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 20,851 shares of company stock valued at $1,190,736 in the last ninety days. 0.27% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. UBS Group lifted their price objective on shares of Baker Hughes from $54.00 to $61.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 28th. Bank of America raised their target price on Baker Hughes from $52.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, October 14th. Capital One Financial boosted their price target on Baker Hughes from $53.00 to $59.00 and gave the company an “overweight” rating in a research note on Tuesday, January 27th. Industrial Alliance Securities set a $60.00 price objective on Baker Hughes in a report on Tuesday, January 27th. Finally, HSBC raised their price objective on Baker Hughes from $54.00 to $56.00 and gave the stock a “buy” rating in a research note on Monday, October 27th. Twenty analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $58.30.

Baker Hughes Stock Down 3.1%

Shares of BKR opened at $57.36 on Friday. The company has a market capitalization of $56.60 billion, a price-to-earnings ratio of 22.06, a PEG ratio of 1.59 and a beta of 0.89. Baker Hughes Company has a 52 week low of $33.60 and a 52 week high of $59.54. The stock’s 50-day moving average price is $49.94 and its 200-day moving average price is $47.60. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Monday, January 26th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.11. The company had revenue of $7.39 billion during the quarter, compared to the consensus estimate of $7.09 billion. Baker Hughes had a return on equity of 14.51% and a net margin of 9.33%.Baker Hughes’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the previous year, the company posted $0.70 earnings per share. On average, sell-side analysts predict that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Tuesday, February 17th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.6%. The ex-dividend date is Tuesday, February 17th. Baker Hughes’s dividend payout ratio (DPR) is currently 35.38%.

About Baker Hughes

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.