KLP Kapitalforvaltning AS Acquires New Holdings in Baker Hughes (NASDAQ:BKR)

KLP Kapitalforvaltning AS bought a new position in Baker Hughes (NASDAQ:BKR - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 376,018 shares of the company's stock, valued at approximately $15,424,000.

A number of other hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new position in Baker Hughes during the fourth quarter worth $291,289,000. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Baker Hughes by 34.7% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company's stock worth $394,775,000 after purchasing an additional 2,811,940 shares during the period. Congress Asset Management Co. acquired a new position in shares of Baker Hughes during the fourth quarter valued at about $107,155,000. Yaupon Capital Management LP acquired a new position in shares of Baker Hughes during the third quarter valued at about $47,296,000. Finally, Natixis Advisors LLC lifted its stake in shares of Baker Hughes by 217.5% in the fourth quarter. Natixis Advisors LLC now owns 1,728,450 shares of the company's stock valued at $70,901,000 after buying an additional 1,184,036 shares during the period. 92.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. The Goldman Sachs Group lifted their price objective on Baker Hughes from $51.00 to $52.00 and gave the stock a "buy" rating in a report on Thursday, January 23rd. Wells Fargo & Company lifted their price objective on Baker Hughes from $49.00 to $54.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Royal Bank of Canada raised their target price on Baker Hughes from $49.00 to $53.00 and gave the stock an "outperform" rating in a research report on Monday, February 3rd. Evercore ISI upped their price target on Baker Hughes from $46.00 to $52.00 and gave the company an "outperform" rating in a research report on Wednesday, January 15th. Finally, Piper Sandler upped their price objective on shares of Baker Hughes from $53.00 to $55.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $51.06.

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Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the company's stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $44.77, for a total value 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 approximately $7,758,730.54. This represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.25% of the company's stock.

Baker Hughes Trading Up 1.3 %

Shares of NASDAQ:BKR traded up $0.58 during trading on Tuesday, hitting $45.18. 7,541,276 shares of the company's stock were exchanged, compared to its average volume of 6,270,701. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. The firm has a market cap of $44.73 billion, a P/E ratio of 15.16, a PEG ratio of 2.00 and a beta of 1.30. The firm has a 50-day moving average price of $44.96 and a two-hundred day moving average price of $41.50. Baker Hughes has a 1-year low of $30.93 and a 1-year high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released 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%. Equities analysts predict that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend was Tuesday, February 11th. This is an increase from Baker Hughes's previous quarterly dividend of $0.21. Baker Hughes's dividend payout ratio is currently 30.87%.

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.