17,500 Shares in Baker Hughes Company $BKR Acquired by Birmingham Capital Management Co. Inc. AL

Birmingham Capital Management Co. Inc. AL acquired a new stake in Baker Hughes Company (NASDAQ:BKR) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 17,500 shares of the company’s stock, valued at approximately $971,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EFG International AG purchased a new stake in shares of Baker Hughes during the fourth quarter worth $26,000. Cullen Frost Bankers Inc. lifted its stake in shares of Baker Hughes by 344.1% in the fourth quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company’s stock worth $27,000 after buying an additional 468 shares in the last quarter. Quarry LP acquired a new position in Baker Hughes during the fourth quarter worth about $31,000. MV Capital Management Inc. acquired a new position in Baker Hughes during the fourth quarter worth about $34,000. Finally, Acumen Wealth Advisors LLC purchased a new stake in Baker Hughes during the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Insider Activity at Baker Hughes

In other news, CAO Rebecca L. Charlton sold 5,088 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total value of $326,751.36. Following the transaction, the chief accounting officer owned 15,997 shares of the company’s stock, valued at $1,027,327.34. This represents a 24.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lorenzo Simonelli sold 181,411 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $58.43, for a total value of $10,599,844.73. Following the transaction, the chief executive officer owned 703,444 shares of the company’s stock, valued at approximately $41,102,232.92. This represents a 20.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 367,910 shares of company stock valued at $22,420,797 over the last quarter. 0.19% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Capital One Financial raised their target price on shares of Baker Hughes from $66.00 to $71.00 and gave the stock an “overweight” rating in a research note on Thursday, May 21st. TD Cowen upped their price target on Baker Hughes from $77.00 to $78.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Argus increased their price target on Baker Hughes from $67.00 to $79.00 in a report on Friday, May 1st. Jefferies Financial Group reiterated a “buy” rating on shares of Baker Hughes in a research report on Thursday, July 9th. Finally, Susquehanna boosted their price objective on Baker Hughes from $70.00 to $72.00 and gave the stock a “positive” rating in a research note on Tuesday, July 28th. Seventeen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $70.67.

Baker Hughes Price Performance

Shares of BKR stock opened at $62.00 on Thursday. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.09 and a quick ratio of 1.76. The company has a market capitalization of $61.55 billion, a PE ratio of 20.00, a price-to-earnings-growth ratio of 1.92 and a beta of 0.97. The firm’s 50-day moving average is $59.11 and its two-hundred day moving average is $61.42. Baker Hughes Company has a 12 month low of $43.92 and a 12 month high of $70.41.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Sunday, July 26th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.13. The business had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $6.54 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 13.85%. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.63 EPS. Analysts predict that Baker Hughes Company will post 2.51 earnings per share for the current year.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, August 7th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.5%. The ex-dividend date was Friday, August 7th. Baker Hughes’s dividend payout ratio is presently 29.68%.

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.