3,495,028 Shares in Baker Hughes (NASDAQ:BKR) Acquired by Cardano Risk Management B.V.

Cardano Risk Management B.V. purchased a new position in shares of Baker Hughes (NASDAQ:BKR) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,495,028 shares of the company’s stock, valued at approximately $117,083,000. Baker Hughes accounts for approximately 3.6% of Cardano Risk Management B.V.’s investment portfolio, making the stock its 10th biggest holding. Cardano Risk Management B.V. owned approximately 0.35% of Baker Hughes as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new stake in Baker Hughes in the fourth quarter valued at approximately $551,555,000. Northern Trust Corp lifted its stake in Baker Hughes by 4.0% in the third quarter. Northern Trust Corp now owns 9,816,785 shares of the company’s stock valued at $346,729,000 after acquiring an additional 379,385 shares during the last quarter. Morgan Stanley lifted its stake in Baker Hughes by 8.6% in the third quarter. Morgan Stanley now owns 9,445,847 shares of the company’s stock valued at $333,627,000 after acquiring an additional 745,511 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Baker Hughes by 19.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,669,307 shares of the company’s stock valued at $296,319,000 after acquiring an additional 1,395,083 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Baker Hughes by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,658,242 shares of the company’s stock valued at $227,579,000 after acquiring an additional 204,839 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on BKR shares. The Goldman Sachs Group boosted their price objective on shares of Baker Hughes from $36.00 to $38.00 in a research note on Tuesday, April 23rd. Morgan Stanley boosted their price objective on shares of Baker Hughes from $40.00 to $43.00 in a research note on Tuesday, April 23rd. UBS Group boosted their price objective on shares of Baker Hughes from $35.00 to $36.00 in a research note on Tuesday, April 23rd. Benchmark restated a “buy” rating and issued a $40.00 price objective on shares of Baker Hughes in a research note on Wednesday, April 24th. Finally, Susquehanna restated a “positive” rating and issued a $40.00 price objective on shares of Baker Hughes in a research note on Monday, April 8th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Baker Hughes currently has an average rating of “Moderate Buy” and a consensus target price of $41.13.

Baker Hughes Stock Performance

Baker Hughes stock traded down $0.04 on Friday, hitting $32.93. The company’s stock had a trading volume of 14,462,825 shares, compared to its average volume of 5,844,649. The firm has a market cap of $32.86 billion, a P/E ratio of 18.40, a price-to-earnings-growth ratio of 0.56 and a beta of 1.43. The company has a quick ratio of 0.84, a current ratio of 1.25 and a debt-to-equity ratio of 0.38. The company has a fifty day moving average price of $32.37 and a 200-day moving average price of $31.96. Baker Hughes has a one year low of $28.32 and a one year high of $37.58.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.03. The firm had revenue of $6.42 billion for the quarter, compared to analyst estimates of $6.37 billion. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.28 EPS. On average, equities analysts anticipate that Baker Hughes will post 2.09 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 6th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $0.84 annualized dividend and a dividend yield of 2.55%. Baker Hughes’s dividend payout ratio is presently 46.93%.

Insider Activity

In other news, SVP James E. Apostolides sold 5,000 shares of the business’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $33.88, for a total value of $169,400.00. Following the sale, the senior vice president now owns 14,998 shares in the company, valued at approximately $508,132.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP James E. Apostolides sold 5,000 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $33.88, for a total transaction of $169,400.00. Following the transaction, the senior vice president now owns 14,998 shares in the company, valued at approximately $508,132.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Maria C. Borras sold 55,980 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $32.00, for a total transaction of $1,791,360.00. Following the transaction, the executive vice president now owns 92,035 shares in the company, valued at approximately $2,945,120. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

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.