PensionDanmark Pensionsforsikringsaktieselskab Has $6.43 Million Position in Baker Hughes Company $BKR

PensionDanmark Pensionsforsikringsaktieselskab cut its stake in shares of Baker Hughes Company (NASDAQ:BKR) by 41.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 115,950 shares of the company’s stock after selling 81,097 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Baker Hughes were worth $6,435,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in BKR. Cardano Risk Management B.V. grew its stake in shares of Baker Hughes by 1,005.1% during the fourth quarter. Cardano Risk Management B.V. now owns 49,353,310 shares of the company’s stock worth $2,247,550,000 after buying an additional 44,887,481 shares during the last quarter. Norges Bank bought a new position in shares of Baker Hughes in the 4th quarter valued at $1,022,491,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Baker Hughes by 58.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,635,780 shares of the company’s stock valued at $529,896,000 after acquiring an additional 4,278,573 shares in the last quarter. Bessemer Group Inc. boosted its holdings in shares of Baker Hughes by 12,983.5% during the 4th quarter. Bessemer Group Inc. now owns 3,491,322 shares of the company’s stock valued at $158,994,000 after acquiring an additional 3,464,637 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new stake in Baker Hughes during the 4th quarter worth $144,262,000. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on BKR shares. TD Cowen increased their target price on Baker Hughes from $77.00 to $78.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. BMO Capital Markets upped their price objective on Baker Hughes from $70.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, April 27th. Wolfe Research assumed coverage on shares of Baker Hughes in a report on Wednesday, July 8th. They issued an “outperform” rating and a $70.00 price objective for the company. JPMorgan Chase & Co. lifted their target price on shares of Baker Hughes from $60.00 to $74.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Finally, Stifel Nicolaus boosted their target price on shares of Baker Hughes from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Eighteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $69.95.

Baker Hughes Trading Down 1.9%

NASDAQ BKR opened at $61.55 on Friday. The business’s 50-day moving average price is $59.03 and its two-hundred day moving average price is $60.65. Baker Hughes Company has a 12 month low of $41.96 and a 12 month high of $70.41. The firm has a market capitalization of $61.10 billion, a PE ratio of 19.85, a price-to-earnings-growth ratio of 1.95 and a beta of 0.97. The company has a current ratio of 2.09, a quick ratio of 1.76 and a debt-to-equity ratio of 0.77.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Sunday, July 26th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.13. The company had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $6.54 billion. Baker Hughes had a return on equity of 13.85% and a net margin of 11.17%.The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 earnings per share. On average, analysts expect that Baker Hughes Company will post 2.46 EPS for the current year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Friday, August 7th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, August 7th. Baker Hughes’s dividend payout ratio is currently 29.68%.

Insider Activity at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 181,411 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $58.43, for a total value of $10,599,844.73. Following the sale, the chief executive officer directly owned 703,444 shares of the company’s stock, valued at approximately $41,102,232.92. This represents a 20.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Rebecca L. Charlton sold 5,088 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total transaction of $326,751.36. Following the sale, the chief accounting officer owned 15,997 shares of the company’s stock, valued at approximately $1,027,327.34. This trade represents a 24.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 367,910 shares of company stock valued at $22,420,797. Company insiders own 0.19% of the company’s stock.

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.