PFA Pension Forsikringsaktieselskab Buys Shares of 2,583,599 Baker Hughes Company $BKR

Key Points

• PFA Pension Forsikringsaktieselskab bought a new stake of 2,583,599 shares of Baker Hughes (NASDAQ: BKR) in Q4, valued at about $119.08 million and representing roughly 0.26% of the company.
• Company insiders sold a total of 590,251 shares worth about $35.31 million in the last quarter, including sales by Maria Georgia Magno (5,063 shares) and director William G. Beattie (18,023 shares).
• Baker Hughes reported quarterly EPS of $0.58, topping estimates, and declared a quarterly dividend of $0.23 (annualized $0.92, ~1.3% yield).

PFA Pension Forsikringsaktieselskab bought a new stake in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,583,599 shares of the company's stock, valued at approximately $119,078,000. PFA Pension Forsikringsaktieselskab owned 0.26% of Baker Hughes as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Krilogy Financial LLC increased its position in Baker Hughes by 3.2% during the 4th quarter. Krilogy Financial LLC now owns 5,722 shares of the company's stock valued at $261,000 after purchasing an additional 180 shares during the period. Formidable Asset Management LLC increased its position in Baker Hughes by 3.2% during the 4th quarter. Formidable Asset Management LLC now owns 7,341 shares of the company's stock valued at $358,000 after purchasing an additional 225 shares during the period. CoreCap Advisors LLC increased its position in Baker Hughes by 16.4% during the 4th quarter. CoreCap Advisors LLC now owns 1,619 shares of the company's stock valued at $74,000 after purchasing an additional 228 shares during the period. AMG National Trust Bank increased its position in Baker Hughes by 3.7% during the 3rd quarter. AMG National Trust Bank now owns 6,831 shares of the company's stock valued at $333,000 after purchasing an additional 246 shares during the period. Finally, JFS Wealth Advisors LLC increased its position in Baker Hughes by 45.1% during the 4th quarter. JFS Wealth Advisors LLC now owns 811 shares of the company's stock valued at $37,000 after purchasing an additional 252 shares during the period. Institutional investors and hedge funds own 92.06% of the company's stock.

Insider Buying and Selling at Baker Hughes

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

Baker Hughes Price Performance

BKR stock opened at $69.12 on Friday. The stock has a market capitalization of $68.57 billion, a PE ratio of 22.08, a price-to-earnings-growth ratio of 2.44 and a beta of 0.97. The company's 50-day moving average is $61.92 and its 200-day moving average is $54.29. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.13 and a quick ratio of 1.77. Baker Hughes Company has a 1 year low of $35.83 and a 1 year high of $70.41.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $6.71 billion. During the same quarter in the prior year, the firm earned $0.51 EPS. The business's revenue was up 2.5% on a year-over-year basis. Equities research analysts expect that Baker Hughes Company will post 2.32 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Investors 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 yield of 1.3%. Baker Hughes's dividend payout ratio (DPR) is presently 29.39%.

Analysts Set New Price Targets

BKR has been the subject of a number of recent analyst reports. Piper Sandler increased their target price on shares of Baker Hughes from $64.00 to $72.00 and gave the company an "overweight" rating in a research report on Tuesday. Wall Street Zen downgraded shares of Baker Hughes from a "buy" rating to a "hold" rating in a research report on Saturday, March 28th. Zephirin Group raised their price objective on shares of Baker Hughes from $40.00 to $45.00 and gave the stock a "hold" rating in a research report on Monday, January 26th. BMO Capital Markets raised 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, April 27th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Baker Hughes from $60.00 to $74.00 and gave the stock an "overweight" rating in a research report on Monday, April 27th. Nineteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $68.09.

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.

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