Baker Hughes Company $BKR Shares Sold by Board of the Pension Protection Fund

Board of the Pension Protection Fund reduced its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 96.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 700 shares of the company’s stock after selling 21,300 shares during the quarter. Board of the Pension Protection Fund’s holdings in Baker Hughes were worth $32,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Baker Hughes during the second quarter valued at about $862,722,000. Capital International Investors acquired a new position in shares of Baker Hughes in the third quarter worth about $729,670,000. First Trust Advisors LP boosted its holdings in Baker Hughes by 76.0% in the second quarter. First Trust Advisors LP now owns 7,419,033 shares of the company’s stock valued at $284,446,000 after purchasing an additional 3,203,942 shares during the last quarter. Capital World Investors boosted its holdings in Baker Hughes by 7.1% in the third quarter. Capital World Investors now owns 47,546,388 shares of the company’s stock valued at $2,316,462,000 after purchasing an additional 3,153,709 shares during the last quarter. Finally, Sei Investments Co. grew its stake in Baker Hughes by 247.5% during the 2nd quarter. Sei Investments Co. now owns 3,134,494 shares of the company’s stock valued at $120,177,000 after purchasing an additional 2,232,394 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Insider Activity at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 272,594 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $58.79, for a total value of $16,025,801.26. Following the transaction, the chief executive officer directly owned 866,444 shares of the company’s stock, valued at approximately $50,938,242.76. This trade represents a 23.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Maria Georgia Magno sold 5,063 shares of the firm’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $59.04, for a total value of $298,919.52. Following the completion of the transaction, the insider owned 15,555 shares in the company, valued at $918,367.20. This represents a 24.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 590,251 shares of company stock valued at $35,311,023 over the last three months. 0.27% of the stock is owned by company insiders.

Baker Hughes Trading Down 0.6%

Shares of BKR stock opened at $60.35 on Friday. The firm has a fifty day moving average of $58.17 and a 200-day moving average of $51.21. The stock has a market cap of $59.64 billion, a price-to-earnings ratio of 23.21, a P/E/G ratio of 1.64 and a beta of 0.83. Baker Hughes Company has a 52-week low of $33.60 and a 52-week high of $67.00. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.00 and a current ratio of 1.36.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Monday, January 26th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.67 by $0.11. Baker Hughes had a return on equity of 14.26% and a net margin of 9.33%.The business had revenue of $7.39 billion during the quarter, compared to the consensus estimate of $7.09 billion. Baker Hughes’s revenue was up .3% on a year-over-year basis. During the same quarter last year, the company earned $0.70 EPS. On average, equities research analysts forecast that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, February 17th. Baker Hughes’s dividend payout ratio is 35.38%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on BKR shares. BMO Capital Markets upped their price target on shares of Baker Hughes from $65.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday, March 3rd. JPMorgan Chase & Co. increased their target price on Baker Hughes from $53.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, January 27th. Capital One Financial lifted their target price on Baker Hughes from $53.00 to $59.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 27th. TD Cowen lifted their target price on Baker Hughes from $55.00 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, January 27th. Finally, Wall Street Zen raised Baker Hughes from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Twenty equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Baker Hughes currently has an average rating of “Moderate Buy” and an average target price of $59.61.

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.