KLP Kapitalforvaltning AS Acquires Shares of 376,018 Baker Hughes (NASDAQ:BKR)

KLP Kapitalforvaltning AS acquired a new stake in shares of Baker Hughes (NASDAQ:BKR) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 376,018 shares of the company’s stock, valued at approximately $15,424,000.

Several other large investors have also bought and sold shares of BKR. Geode Capital Management LLC lifted its holdings in shares of Baker Hughes by 0.5% during the third quarter. Geode Capital Management LLC now owns 24,078,093 shares of the company’s stock valued at $867,514,000 after purchasing an additional 123,172 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Baker Hughes by 34.7% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock valued at $394,775,000 after purchasing an additional 2,811,940 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Baker Hughes by 1.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,633,006 shares of the company’s stock valued at $348,233,000 after purchasing an additional 145,537 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Baker Hughes during the fourth quarter valued at approximately $291,289,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Baker Hughes by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,086,903 shares of the company’s stock valued at $290,705,000 after purchasing an additional 135,200 shares during the last quarter. 92.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group lifted their target price on shares of Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Benchmark reiterated a “buy” rating and set a $57.00 target price on shares of Baker Hughes in a report on Tuesday, February 11th. JPMorgan Chase & Co. lifted their target price on shares of Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Bank of America boosted their price objective on shares of Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Finally, Jefferies Financial Group boosted their price objective on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $51.06.

Baker Hughes Trading Down 1.3 %

NASDAQ:BKR opened at $44.11 on Monday. 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 has a 12 month low of $30.93 and a 12 month high of $49.40. The company has a market cap of $43.67 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 2.00 and a beta of 1.30. The company has a 50 day simple moving average of $44.97 and a two-hundred day simple moving average of $41.42.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, topping 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%. Research analysts forecast that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were given a dividend of $0.23 per share. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.09%. Baker Hughes’s payout ratio is presently 30.87%.

Insider Activity

In other news, EVP Maria C. Borras sold 8,000 shares of the business’s stock in a transaction 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 completion of the sale, the executive vice president now owns 173,302 shares of the company’s stock, valued at $7,758,730.54. The trade was a 4.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.25% of the company’s stock.

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.