KLP Kapitalforvaltning AS Makes New Investment in Baker Hughes (NASDAQ:BKR)

KLP Kapitalforvaltning AS bought a new position in shares of Baker Hughes (NASDAQ:BKR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 376,018 shares of the company’s stock, valued at approximately $15,424,000.

Several other institutional investors have also recently made changes to their positions in the stock. JFS Wealth Advisors LLC raised its position in shares of 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 buying an additional 386 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Baker Hughes in the fourth quarter worth $30,000. Larson Financial Group LLC raised its position in shares of Baker Hughes by 41.2% in the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock worth $30,000 after buying an additional 216 shares in the last quarter. True Wealth Design LLC raised its position in shares of Baker Hughes by 2,181.6% in the third quarter. True Wealth Design LLC now owns 867 shares of the company’s stock worth $31,000 after buying an additional 829 shares in the last quarter. Finally, Groupama Asset Managment raised its position in shares of Baker Hughes by 1,045.1% in the third quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock worth $32,000 after buying an additional 811,711 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Down 1.3 %

Shares of NASDAQ:BKR opened at $44.11 on Monday. The stock’s 50-day moving average price is $44.97 and its 200-day moving average price is $41.42. Baker Hughes has a 12-month low of $30.93 and a 12-month high of $49.40. The stock has a market capitalization of $43.67 billion, a P/E ratio of 14.80, a price-to-earnings-growth ratio of 2.00 and a beta of 1.30. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35.

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

Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were paid a $0.23 dividend. The ex-dividend date was Tuesday, February 11th. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a dividend yield of 2.09%. Baker Hughes’s dividend payout ratio (DPR) is presently 30.87%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on BKR shares. Wells Fargo & Company increased their price objective on Baker Hughes from $49.00 to $54.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Benchmark reiterated a “buy” rating and issued a $57.00 price objective on shares of Baker Hughes in a research report on Tuesday, February 11th. Bank of America increased their price objective on Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. JPMorgan Chase & Co. raised their price target on Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Piper Sandler raised their price target on Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, Baker Hughes presently has an average rating of “Moderate Buy” and an average target price of $51.06.

Insider Buying and Selling

In related news, EVP Maria C. Borras sold 8,000 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the sale, the executive vice president now directly owns 173,302 shares of the company’s stock, valued at $7,758,730.54. This trade represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is owned by insiders.

Baker Hughes Company 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.