DNB Asset Management AS Has $6.52 Million Stock Holdings in Baker Hughes (NASDAQ:BKR)

DNB Asset Management AS increased its position in shares of Baker Hughes (NASDAQ:BKR) by 1.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 185,420 shares of the company’s stock after purchasing an additional 3,198 shares during the quarter. DNB Asset Management AS’s holdings in Baker Hughes were worth $6,521,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in BKR. Price T Rowe Associates Inc. MD increased its holdings in shares of Baker Hughes by 32.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock worth $581,729,000 after buying an additional 4,207,973 shares in the last quarter. Norges Bank bought a new position in Baker Hughes in the 4th quarter valued at $551,555,000. Dimensional Fund Advisors LP raised its position in Baker Hughes by 19.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,669,307 shares of the company’s stock valued at $296,319,000 after purchasing an additional 1,395,083 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Baker Hughes by 3.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,658,242 shares of the company’s stock worth $227,579,000 after purchasing an additional 204,839 shares during the last quarter. Finally, Clearbridge Investments LLC increased its stake in shares of Baker Hughes by 10.2% in the first quarter. Clearbridge Investments LLC now owns 6,609,115 shares of the company’s stock valued at $221,405,000 after buying an additional 612,715 shares in the last quarter. 92.06% of the stock is owned by institutional investors.

Insider Activity

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $38.55, for a total transaction of $4,405,725.30. Following the completion of the transaction, the chief executive officer now owns 616,339 shares in the company, valued at approximately $23,759,868.45. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Maria C. Borras sold 55,980 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $32.00, for a total value of $1,791,360.00. Following the sale, the executive vice president now owns 92,035 shares of the company’s stock, valued at $2,945,120. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Lorenzo Simonelli sold 114,286 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $38.55, for a total transaction of $4,405,725.30. Following the completion of the transaction, the chief executive officer now directly owns 616,339 shares of the company’s stock, valued at approximately $23,759,868.45. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Baker Hughes Trading Down 0.9 %

Shares of BKR traded down $0.30 during trading hours on Tuesday, reaching $34.21. The stock had a trading volume of 7,081,352 shares, compared to its average volume of 7,632,964. The company has a market cap of $33.98 billion, a P/E ratio of 19.11, a P/E/G ratio of 0.61 and a beta of 1.41. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $39.05. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average of $34.21 and a 200 day moving average of $32.50.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.08. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The company had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $6.81 billion. During the same period in the prior year, the company earned $0.39 earnings per share. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, sell-side analysts expect that Baker Hughes will post 2.2 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Tuesday, August 6th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend is Tuesday, August 6th. Baker Hughes’s dividend payout ratio (DPR) is presently 46.93%.

Analysts Set New Price Targets

A number of brokerages have commented on BKR. Morgan Stanley increased their price objective on shares of Baker Hughes from $40.00 to $43.00 in a report on Tuesday, April 23rd. Royal Bank of Canada boosted their price objective on shares of Baker Hughes from $39.00 to $43.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Susquehanna upped their price objective on Baker Hughes from $40.00 to $46.00 and gave the stock a “positive” rating in a report on Monday, July 29th. UBS Group boosted their target price on Baker Hughes from $35.00 to $36.00 in a research report on Tuesday, April 23rd. Finally, Stifel Nicolaus upped their price target on Baker Hughes from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.00.

Baker Hughes Company 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.