Livforsakringsbolaget Skandia Omsesidigt Purchases 1,639 Shares of Baker Hughes (NASDAQ:BKR)

Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Baker Hughes (NASDAQ:BKR) by 109.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,130 shares of the company’s stock after purchasing an additional 1,639 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Baker Hughes were worth $107,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BKR. Norges Bank bought a new position in shares of Baker Hughes during the fourth quarter worth $195,343,000. FMR LLC increased its holdings in Baker Hughes by 16.8% during the 3rd quarter. FMR LLC now owns 16,078,162 shares of the company’s stock worth $567,881,000 after purchasing an additional 2,316,638 shares in the last quarter. AQR Capital Management LLC increased its holdings in Baker Hughes by 846.7% during the 3rd quarter. AQR Capital Management LLC now owns 2,378,976 shares of the company’s stock worth $84,025,000 after purchasing an additional 2,127,675 shares in the last quarter. Morgan Stanley increased its holdings in Baker Hughes by 27.2% during the 4th quarter. Morgan Stanley now owns 8,986,722 shares of the company’s stock worth $265,378,000 after purchasing an additional 1,919,760 shares in the last quarter. Finally, Clearbridge Investments LLC bought a new position in Baker Hughes during the 1st quarter worth about $69,329,000. 92.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

BKR has been the subject of a number of research reports. Susquehanna reiterated a “positive” rating and set a $40.00 target price on shares of Baker Hughes in a report on Monday, April 8th. TD Cowen raised their price objective on Baker Hughes from $46.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Wolfe Research cut Baker Hughes from an “outperform” rating to a “peer perform” rating in a report on Monday, January 29th. Barclays decreased their price objective on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating for the company in a report on Friday, January 26th. Finally, Citigroup cut their target price on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, January 26th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Baker Hughes has an average rating of “Moderate Buy” and an average price target of $40.87.

Baker Hughes Stock Performance

Shares of NASDAQ:BKR opened at $32.20 on Friday. The company’s 50 day simple moving average is $31.61 and its 200 day simple moving average is $32.59. The stock has a market capitalization of $32.23 billion, a price-to-earnings ratio of 16.86, a price-to-earnings-growth ratio of 0.61 and a beta of 1.42. Baker Hughes has a 1 year low of $26.81 and a 1 year high of $37.58. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.25 and a quick ratio of 0.86.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Wednesday, January 24th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.04. The firm had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $6.93 billion. Baker Hughes had a net margin of 7.62% and a return on equity of 10.63%. The company’s revenue was up 15.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.38 earnings per share. As a group, research analysts predict that Baker Hughes will post 2.07 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Tuesday, February 13th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date was Monday, February 12th. This is a boost from Baker Hughes’s previous quarterly dividend of $0.20. Baker Hughes’s payout ratio is presently 43.98%.

Insider Transactions at Baker Hughes

In other news, SVP James E. Apostolides sold 10,000 shares of Baker Hughes stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total transaction of $294,400.00. Following the transaction, the senior vice president now owns 14,451 shares in the company, valued at $425,437.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, SVP James E. Apostolides sold 10,000 shares of Baker Hughes stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total transaction of $294,400.00. Following the transaction, the senior vice president now owns 14,451 shares in the company, valued at $425,437.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP James E. Apostolides sold 5,000 shares of Baker Hughes stock in a transaction on Friday, April 5th. The stock was sold at an average price of $33.88, for a total transaction of $169,400.00. Following the transaction, the senior vice president now owns 14,998 shares in the company, valued at approximately $508,132.24. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

About Baker Hughes

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.