Fjarde AP Fonden Fourth Swedish National Pension Fund Acquires 84,500 Shares of Baker Hughes Company $BKR

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Baker Hughes Company (NASDAQ:BKR) by 7.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,159,303 shares of the company’s stock after acquiring an additional 84,500 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Baker Hughes were worth $70,775,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in BKR. EFG International AG bought a new stake in shares of Baker Hughes in the 4th quarter worth approximately $26,000. Cullen Frost Bankers Inc. boosted its stake in shares of Baker Hughes by 344.1% in the 4th quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company’s stock valued at $27,000 after purchasing an additional 468 shares in the last quarter. Quarry LP bought a new stake in Baker Hughes during the fourth quarter worth about $31,000. MV Capital Management Inc. acquired a new position in shares of Baker Hughes in the 4th quarter worth approximately $34,000. Finally, Acumen Wealth Advisors LLC bought a new stake in shares of Baker Hughes during the fourth quarter worth $35,000. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Price Performance

Shares of BKR opened at $52.78 on Friday. The stock has a 50 day simple moving average of $63.14 and a 200 day simple moving average of $58.79. 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 Company has a 52-week low of $38.37 and a 52-week high of $70.41. The firm has a market capitalization of $52.36 billion, a PE ratio of 16.86, a P/E/G ratio of 1.93 and a beta of 0.96.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.49 by $0.09. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. The business had revenue of $6.59 billion for the quarter, compared to analysts’ expectations of $6.71 billion. During the same period in the previous year, the firm posted $0.51 EPS. The firm’s revenue was up 2.5% compared to the same quarter last year. Sell-side analysts predict that Baker Hughes Company will post 2.29 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. Stockholders of record on Tuesday, May 5th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Tuesday, May 5th. Baker Hughes’s payout ratio is currently 29.39%.

Analyst Upgrades and Downgrades

BKR has been the topic of several research analyst reports. Argus increased their price target on shares of Baker Hughes from $67.00 to $79.00 in a research note on Friday, May 1st. BMO Capital Markets raised their target price on Baker Hughes from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, April 27th. Wall Street Zen lowered Baker Hughes from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. TD Cowen increased their price target on shares of Baker Hughes from $75.00 to $77.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Citigroup decreased their price objective on shares of Baker Hughes from $80.00 to $74.00 and set a “buy” rating for the company in a report on Wednesday, June 3rd. Seventeen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $70.57.

Insider Activity

In other news, CAO Rebecca L. Charlton sold 5,088 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $64.22, for a total transaction of $326,751.36. Following the completion of the transaction, the chief accounting officer directly owned 15,997 shares in the company, valued at $1,027,327.34. This represents a 24.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lorenzo Simonelli sold 181,411 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 703,444 shares of the company’s stock, valued at $41,102,232.92. This trade represents a 20.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 367,910 shares of company stock worth $22,420,797 over the last three months. Insiders own 0.19% of the company’s stock.

Baker Hughes Profile

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.