Nykredit A S Takes Position in Baker Hughes Company $BKR

Key Points

• Nykredit A S acquired 413,780 Baker Hughes shares during the second quarter, valued at approximately $23.0 million. Institutional investors collectively own 92.06% of the company.
• Analysts maintain a generally positive outlook, with Baker Hughes receiving a consensus “Moderate Buy” rating and an average price target of $71.81; RBC and Stifel recently raised their targets to $76 and $75, respectively.
• Baker Hughes exceeded quarterly earnings and revenue expectations, reporting $0.64 in EPS and $6.74 billion in revenue. The company also pays a quarterly dividend of $0.23 per share, representing a 1.6% yield.

Nykredit A S acquired a new position in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 413,780 shares of the company's stock, valued at approximately $22,965,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Parkside Financial Bank & Trust boosted its holdings in Baker Hughes by 93.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 6,910 shares of the company's stock valued at $384,000 after purchasing an additional 3,335 shares during the period. Range Advisory LLC raised its position in shares of Baker Hughes by 9.5% in the second quarter. Range Advisory LLC now owns 4,927 shares of the company's stock valued at $273,000 after buying an additional 427 shares in the last quarter. Brown Lisle Cummings Inc. raised its position in shares of Baker Hughes by 23.1% in the second quarter. Brown Lisle Cummings Inc. now owns 2,758 shares of the company's stock valued at $154,000 after buying an additional 517 shares in the last quarter. Wedmont Private Capital boosted its stake in shares of Baker Hughes by 9.7% in the second quarter. Wedmont Private Capital now owns 23,978 shares of the company's stock valued at $1,380,000 after buying an additional 2,111 shares during the period. Finally, Saudi Central Bank grew its position in Baker Hughes by 90.6% during the second quarter. Saudi Central Bank now owns 69,423 shares of the company's stock worth $3,853,000 after buying an additional 33,000 shares in the last quarter. 92.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BKR has been the topic of a number of recent research reports. Weiss Ratings lowered Baker Hughes from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, July 13th. Royal Bank Of Canada upped their target price on Baker Hughes from $71.00 to $76.00 and gave the company an "outperform" rating in a research report on Tuesday, August 25th. Jefferies Financial Group reissued a "buy" rating on shares of Baker Hughes in a report on Thursday, July 9th. Stifel Nicolaus raised their price target on Baker Hughes from $74.00 to $75.00 and gave the stock a "buy" rating in a research report on Tuesday, July 28th. Finally, Wall Street Zen downgraded Baker Hughes from a "buy" rating to a "hold" rating in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Baker Hughes has an average rating of "Moderate Buy" and a consensus price target of $71.81.

Baker Hughes Stock Performance

Shares of NASDAQ:BKR opened at $57.25 on Friday. Baker Hughes Company has a 1 year low of $43.92 and a 1 year high of $70.41. The stock has a market capitalization of $56.83 billion, a price-to-earnings ratio of 18.47, a price-to-earnings-growth ratio of 2.55 and a beta of 0.96. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.09 and a quick ratio of 1.76. The company's 50 day simple moving average is $60.72 and its 200 day simple moving average is $61.30.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its earnings results on Monday, July 27th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.13. The firm had revenue of $6.74 billion during the quarter, compared to analysts' expectations of $6.54 billion. Baker Hughes had a return on equity of 13.85% and a net margin of 11.17%.The company's quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.63 earnings per share. As a group, research analysts predict that Baker Hughes Company will post 2.53 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, August 7th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Friday, August 7th. Baker Hughes's dividend payout ratio is currently 29.68%.

Insider Buying and Selling at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 181,411 shares of the firm's stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $58.43, for a total value of $10,599,844.73. Following the sale, 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 transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.19% of the stock is currently owned by corporate insiders.

Baker Hughes Company Profile

Baker Hughes Company NASDAQ: BKR is an energy technology company that provides products, services and digital solutions for the energy and industrial sectors. Its offerings support the exploration, development, production, transportation and processing of oil and natural gas, as well as broader energy and industrial operations.

The company's portfolio includes oilfield services and equipment, drilling and completion technologies, artificial lift systems, subsea production solutions, turbomachinery, compressors, gas technology and liquefied natural gas equipment.

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