Baker Hughes (NASDAQ:BKR) Shares Acquired by Varma Mutual Pension Insurance Co

Varma Mutual Pension Insurance Co lifted its stake in shares of Baker Hughes (NASDAQ:BKR) by 17.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 439,029 shares of the company’s stock after purchasing an additional 64,629 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in Baker Hughes were worth $15,441,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in BKR. Spire Wealth Management increased its position in Baker Hughes by 256.7% in the 1st quarter. Spire Wealth Management now owns 767 shares of the company’s stock valued at $26,000 after acquiring an additional 552 shares during the period. Redmont Wealth Advisors LLC acquired a new stake in Baker Hughes in the 1st quarter valued at approximately $27,000. Montag A & Associates Inc. increased its position in Baker Hughes by 100.0% in the 4th quarter. Montag A & Associates Inc. now owns 1,000 shares of the company’s stock valued at $34,000 after acquiring an additional 500 shares during the period. New Covenant Trust Company N.A. acquired a new stake in Baker Hughes in the 1st quarter valued at approximately $34,000. Finally, UMB Bank n.a. increased its position in Baker Hughes by 281.2% in the 1st quarter. UMB Bank n.a. now owns 1,582 shares of the company’s stock valued at $53,000 after acquiring an additional 1,167 shares during the period. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Baker Hughes Stock Performance

BKR opened at $33.94 on Monday. The firm has a market cap of $33.87 billion, a PE ratio of 18.96, a P/E/G ratio of 0.57 and a beta of 1.38. The business has a fifty day simple moving average of $35.21 and a 200-day simple moving average of $33.39. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $39.05.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Thursday, July 25th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.49 by $0.08. The business had revenue of $7.10 billion during the quarter, compared to analysts’ expectations of $6.81 billion. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. Baker Hughes’s revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.39 earnings per share. As a group, equities analysts predict that Baker Hughes will post 2.24 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Tuesday, August 6th were given a $0.21 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $0.84 annualized dividend and a dividend yield of 2.47%. Baker Hughes’s dividend payout ratio (DPR) is presently 46.93%.

Insider Transactions at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 114,286 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $38.55, for a total value of $4,405,725.30. Following the completion of the sale, the chief executive officer now owns 616,339 shares of the company’s stock, valued at $23,759,868.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.25% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Jefferies Financial Group increased their price target on Baker Hughes from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Bank of America decreased their price target on Baker Hughes from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Wells Fargo & Company increased their price target on Baker Hughes from $35.00 to $40.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Evercore ISI increased their price target on Baker Hughes from $42.00 to $46.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Finally, Susquehanna increased their price target on Baker Hughes from $40.00 to $46.00 and gave the company a “positive” rating in a research note on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $43.38.

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.