National Pension Service Grows Stock Position in Baker Hughes Company $BKR

National Pension Service boosted its position in Baker Hughes Company (NASDAQ:BKR) by 5.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,317,478 shares of the company’s stock after buying an additional 64,323 shares during the quarter. National Pension Service’s holdings in Baker Hughes were worth $59,998,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Pinion Investment Advisors LLC purchased a new stake in Baker Hughes in the fourth quarter worth $778,000. Nordea Investment Management AB increased its position in Baker Hughes by 12.7% in the fourth quarter. Nordea Investment Management AB now owns 2,755,743 shares of the company’s stock worth $125,813,000 after buying an additional 309,996 shares during the last quarter. Legal & General Group Plc increased its position in Baker Hughes by 5.4% in the third quarter. Legal & General Group Plc now owns 7,147,684 shares of the company’s stock worth $348,234,000 after buying an additional 367,728 shares during the last quarter. Cibc World Market Inc. increased its position in Baker Hughes by 13.6% in the third quarter. Cibc World Market Inc. now owns 829,816 shares of the company’s stock worth $40,429,000 after buying an additional 99,314 shares during the last quarter. Finally, Johnson Investment Counsel Inc. increased its position in Baker Hughes by 10,225.3% in the third quarter. Johnson Investment Counsel Inc. now owns 849,566 shares of the company’s stock worth $41,391,000 after buying an additional 841,338 shares during the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Price Performance

NASDAQ:BKR opened at $63.88 on Friday. The firm has a market capitalization of $63.37 billion, a price-to-earnings ratio of 20.41, a P/E/G ratio of 2.27 and a beta of 0.97. Baker Hughes Company has a 52-week low of $36.53 and a 52-week high of $70.41. The stock has a fifty day moving average of $63.69 and a 200 day moving average of $56.79. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.77 and a current ratio of 2.13.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.09. The company had revenue of $6.59 billion during the quarter, compared to analyst estimates of $6.71 billion. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the company earned $0.51 earnings per share. On average, research analysts expect that Baker Hughes Company will post 2.31 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Tuesday, May 5th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $0.92 annualized dividend and a yield of 1.4%. Baker Hughes’s dividend payout ratio (DPR) is currently 29.39%.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 272,594 shares of Baker Hughes stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $58.79, for a total transaction of $16,025,801.26. Following the completion of the sale, the chief executive officer owned 866,444 shares of the company’s stock, valued at $50,938,242.76. The trade was a 23.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Maria Georgia Magno sold 5,063 shares of Baker Hughes stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $59.04, for a total value of $298,919.52. Following the sale, the insider directly owned 15,555 shares of the company’s stock, valued at approximately $918,367.20. This trade represents a 24.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 550,250 shares of company stock valued at $32,988,331 in the last three months. 0.19% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

BKR has been the subject of several recent research reports. Capital One Financial lifted their price target on Baker Hughes from $66.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, May 21st. Royal Bank Of Canada lifted their price target on Baker Hughes from $68.00 to $71.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. Susquehanna lifted their price target on Baker Hughes from $70.00 to $80.00 and gave the company a “positive” rating in a research report on Monday, April 27th. Jefferies Financial Group reiterated a “buy” rating and issued a $80.00 price target on shares of Baker Hughes in a research report on Sunday, April 26th. Finally, UBS Group lifted their price target on Baker Hughes from $69.00 to $73.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. Eighteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Baker Hughes currently has a consensus rating of “Moderate Buy” and an average target price of $69.41.

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.