Board of the Pension Protection Fund Invests $1.07 Million in Baker Hughes Company $BKR

Board of the Pension Protection Fund bought a new stake in Baker Hughes Company (NASDAQ:BKR) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 22,000 shares of the company’s stock, valued at approximately $1,072,000.

Other hedge funds have also added to or reduced their stakes in the company. Forum Financial Management LP increased its position in Baker Hughes by 1.4% during the 2nd quarter. Forum Financial Management LP now owns 17,255 shares of the company’s stock worth $662,000 after buying an additional 233 shares during the period. Steward Partners Investment Advisory LLC increased its position in Baker Hughes by 4.2% during the second quarter. Steward Partners Investment Advisory LLC now owns 6,790 shares of the company’s stock worth $260,000 after acquiring an additional 275 shares during the period. V Square Quantitative Management LLC raised its stake in Baker Hughes by 1.4% in the 2nd quarter. V Square Quantitative Management LLC now owns 21,758 shares of the company’s stock worth $834,000 after purchasing an additional 292 shares in the last quarter. Moody National Bank Trust Division boosted its holdings in Baker Hughes by 5.9% in the 2nd quarter. Moody National Bank Trust Division now owns 5,351 shares of the company’s stock valued at $205,000 after purchasing an additional 296 shares during the period. Finally, City Center Advisors LLC grew its position in shares of Baker Hughes by 3.6% during the 2nd quarter. City Center Advisors LLC now owns 8,486 shares of the company’s stock worth $325,000 after purchasing an additional 298 shares in the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Stock Performance

NASDAQ:BKR opened at $44.71 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $44.12 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 1.62 and a beta of 0.90. Baker Hughes Company has a twelve month low of $33.60 and a twelve month high of $51.12. The stock’s 50-day simple moving average is $47.65 and its 200 day simple moving average is $44.74.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Friday, November 18th. The company reported $0.16 EPS for the quarter. The firm had revenue of $5.09 billion during the quarter. Baker Hughes had a net margin of 10.43% and a return on equity of 14.22%. On average, analysts anticipate that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Tuesday, November 4th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Tuesday, November 4th. Baker Hughes’s payout ratio is presently 31.72%.

Insider Buying and Selling at Baker Hughes

In other news, CAO Rebecca L. Charlton sold 1,000 shares of the stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total value of $50,000.00. Following the completion of the transaction, the chief accounting officer directly owned 11,772 shares in the company, valued at approximately $588,600. This represents a 7.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Sreeganesh Ramaswamy sold 25,000 shares of the business’s stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total value of $1,250,000.00. Following the sale, the executive vice president owned 40,520 shares in the company, valued at $2,026,000. This represents a 38.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.27% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BKR. Evercore ISI set a $54.00 price target on shares of Baker Hughes in a research report on Monday, October 27th. Susquehanna upped their target price on Baker Hughes from $52.00 to $56.00 and gave the company a “positive” rating in a research report on Thursday, October 2nd. BMO Capital Markets raised their price target on Baker Hughes from $53.00 to $55.00 in a research report on Tuesday, November 11th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Baker Hughes in a research note on Monday. Finally, Piper Sandler increased their price objective on shares of Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Twenty-three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $53.92.

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.