Danske Bank A S Grows Holdings in Baker Hughes Company $BKR

Danske Bank A S increased its position in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 1,758.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,643,742 shares of the company's stock after purchasing an additional 1,555,283 shares during the quarter. Danske Bank A S owned approximately 0.17% of Baker Hughes worth $74,856,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BKR. Woodline Partners LP boosted its holdings in Baker Hughes by 40.8% during the first quarter. Woodline Partners LP now owns 83,650 shares of the company's stock worth $3,676,000 after purchasing an additional 24,225 shares during the last quarter. Focus Partners Wealth raised its position in Baker Hughes by 5.6% in the first quarter. Focus Partners Wealth now owns 18,481 shares of the company's stock worth $812,000 after acquiring an additional 986 shares during the period. Jump Financial LLC bought a new stake in Baker Hughes in the second quarter worth about $2,301,000. NewEdge Advisors LLC raised its position in Baker Hughes by 4.0% in the second quarter. NewEdge Advisors LLC now owns 46,407 shares of the company's stock worth $1,779,000 after acquiring an additional 1,768 shares during the period. Finally, Nebula Research & Development LLC bought a new stake in Baker Hughes in the second quarter worth about $1,014,000. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Baker Hughes Stock Performance

NASDAQ BKR opened at $69.67 on Friday. The company's 50 day moving average is $61.92 and its 200-day moving average is $54.29. Baker Hughes Company has a 12-month low of $35.10 and a 12-month high of $70.41. The company has a quick ratio of 1.77, a current ratio of 2.13 and a debt-to-equity ratio of 0.79. The firm has a market cap of $68.85 billion, a P/E ratio of 22.26, a price-to-earnings-growth ratio of 2.41 and a beta of 0.90.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share (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 company had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same quarter in the previous year, the firm posted $0.51 earnings per share. The company's quarterly revenue was up 2.5% compared to the same quarter last year. Sell-side analysts predict that Baker Hughes Company will post 2.32 earnings per share for the current year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th will be given a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, May 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.3%. Baker Hughes's payout ratio is 29.39%.

Analysts Set New Price Targets

Several brokerages have commented on BKR. Capital One Financial lifted their price objective on shares of Baker Hughes from $60.00 to $66.00 and gave the stock an "overweight" rating in a research report on Friday, April 10th. BMO Capital Markets lifted their price objective on shares of Baker Hughes from $70.00 to $80.00 and gave the stock an "outperform" rating in a research report on Monday. Piper Sandler lifted their price objective on shares of Baker Hughes from $64.00 to $72.00 and gave the stock an "overweight" rating in a research report on Tuesday. Susquehanna lifted their price objective on shares of Baker Hughes from $70.00 to $80.00 and gave the stock a "positive" rating in a research report on Monday. Finally, Citigroup lifted their price objective on shares of Baker Hughes from $69.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday. Nineteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $68.09.

Insider Buying and Selling at Baker Hughes

In other news, Director William G. Beattie sold 18,023 shares of the business's stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $57.29, for a total value of $1,032,537.67. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Maria Georgia Magno sold 5,063 shares of the business's stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $59.04, for a total transaction of $298,919.52. Following the completion of the sale, the insider directly owned 15,555 shares in the company, valued at approximately $918,367.20. This trade represents a 24.56% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 590,251 shares of company stock worth $35,311,023. 0.19% of the stock is currently owned by company insiders.

Baker Hughes Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.