DnB Asset Management AS Raises Position in Baker Hughes (NASDAQ:BKR)

DnB Asset Management AS grew its position in shares of Baker Hughes (NASDAQ:BKR) by 1.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 187,832 shares of the company’s stock after acquiring an additional 3,103 shares during the period. DnB Asset Management AS’s holdings in Baker Hughes were worth $7,705,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. JFS Wealth Advisors LLC grew its holdings in Baker Hughes by 135.9% in the fourth quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock worth $27,000 after purchasing an additional 386 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Baker Hughes in the 4th quarter worth approximately $30,000. Larson Financial Group LLC grew its stake in shares of Baker Hughes by 41.2% in the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock worth $30,000 after buying an additional 216 shares during the last quarter. True Wealth Design LLC increased its position in Baker Hughes by 2,181.6% during the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company’s stock valued at $31,000 after buying an additional 829 shares in the last quarter. Finally, Groupama Asset Managment raised its stake in Baker Hughes by 1,045.1% during the third quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock valued at $32,000 after buying an additional 811,711 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Price Performance

NASDAQ BKR opened at $43.08 on Friday. The company has a 50-day moving average price of $44.81 and a 200-day moving average price of $41.73. Baker Hughes has a 52 week low of $30.93 and a 52 week high of $49.40. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $42.65 billion, a P/E ratio of 14.46, a PEG ratio of 2.00 and a beta of 1.30.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. Equities research analysts anticipate that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were issued a $0.23 dividend. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date was Tuesday, February 11th. Baker Hughes’s dividend payout ratio (DPR) is currently 30.87%.

Analyst Ratings Changes

A number of research firms have recently commented on BKR. Piper Sandler increased their target price on Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Stifel Nicolaus raised their price objective on shares of Baker Hughes from $48.00 to $54.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Barclays lifted their target price on shares of Baker Hughes from $51.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Jefferies Financial Group increased their price target on shares of Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, Baker Hughes currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.06.

Insider Activity at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $44.77, for a total transaction of $358,160.00. Following the sale, the executive vice president now owns 173,302 shares in the company, valued at approximately $7,758,730.54. This trade represents a 4.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is owned by company insiders.

Baker Hughes Profile

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.