Panagora Asset Management Inc. Has $109 Million Stake in Baker Hughes Company $BKR

Panagora Asset Management Inc. boosted its position in shares of Baker Hughes Company (NASDAQ:BKR) by 79.6% during the 4th quarter, HoldingsChannel reports. The firm owned 2,393,530 shares of the company’s stock after buying an additional 1,060,901 shares during the quarter. Panagora Asset Management Inc.’s holdings in Baker Hughes were worth $109,001,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Deseret Mutual Benefit Administrators boosted its position in shares of Baker Hughes by 10.5% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,884 shares of the company’s stock worth $86,000 after buying an additional 179 shares during the period. Krilogy Financial LLC raised its position in Baker Hughes by 3.2% during the fourth quarter. Krilogy Financial LLC now owns 5,722 shares of the company’s stock valued at $261,000 after buying an additional 180 shares during the period. 3Chopt Investment Partners LLC lifted its stake in Baker Hughes by 0.5% in the 4th quarter. 3Chopt Investment Partners LLC now owns 42,679 shares of the company’s stock worth $1,944,000 after acquiring an additional 203 shares in the last quarter. Formidable Asset Management LLC lifted its stake in Baker Hughes by 3.2% in the 4th quarter. Formidable Asset Management LLC now owns 7,341 shares of the company’s stock worth $358,000 after acquiring an additional 225 shares in the last quarter. Finally, CoreCap Advisors LLC boosted its position in Baker Hughes by 16.4% during the 4th quarter. CoreCap Advisors LLC now owns 1,619 shares of the company’s stock worth $74,000 after acquiring an additional 228 shares during the period. 92.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Baker Hughes

In other news, CAO Rebecca L. Charlton sold 5,088 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total transaction of $326,751.36. Following the completion of the sale, the chief accounting officer owned 15,997 shares in the company, valued at approximately $1,027,327.34. This represents a 24.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.19% of the stock is owned by corporate insiders.

Baker Hughes Stock Performance

Shares of BKR opened at $63.14 on Monday. The firm has a market cap of $62.64 billion, a price-to-earnings ratio of 20.17, a price-to-earnings-growth ratio of 2.25 and a beta of 0.93. The company’s fifty day moving average is $64.12 and its 200-day moving average is $57.94. The company has a quick ratio of 1.77, a current ratio of 2.13 and a debt-to-equity ratio of 0.79. Baker Hughes Company has a 12 month low of $37.38 and a 12 month high of $70.41.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.09. The business had revenue of $6.59 billion during the quarter, compared to analyst estimates of $6.71 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. Baker Hughes’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.51 EPS. Equities analysts expect that Baker Hughes Company will post 2.31 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th were given a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.5%. Baker Hughes’s payout ratio is currently 29.39%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on BKR shares. Zacks Research cut Baker Hughes from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 28th. Argus raised their price target on shares of Baker Hughes from $67.00 to $79.00 in a report on Friday, May 1st. Jefferies Financial Group reaffirmed a “buy” rating and set a $80.00 price objective on shares of Baker Hughes in a research report on Sunday, April 26th. Stifel Nicolaus upped their price objective on shares of Baker Hughes from $63.00 to $74.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Finally, Royal Bank Of Canada increased their target price on shares of Baker Hughes from $68.00 to $71.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. Eighteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $69.14.

Baker Hughes Company Profile

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm’s roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE’s oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.