Blume Capital Management Inc. Sells 475 Shares of Baker Hughes (NASDAQ:BKR)

Blume Capital Management Inc. lessened its stake in Baker Hughes (NASDAQ:BKR) by 0.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 169,800 shares of the company’s stock after selling 475 shares during the period. Baker Hughes comprises about 1.5% of Blume Capital Management Inc.’s holdings, making the stock its 28th largest holding. Blume Capital Management Inc.’s holdings in Baker Hughes were worth $5,804,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. FMR LLC lifted its holdings in Baker Hughes by 16.8% in the third quarter. FMR LLC now owns 16,078,162 shares of the company’s stock worth $567,881,000 after buying an additional 2,316,638 shares during the period. AQR Capital Management LLC boosted its stake in Baker Hughes by 846.7% during the third quarter. AQR Capital Management LLC now owns 2,378,976 shares of the company’s stock worth $84,025,000 after acquiring an additional 2,127,675 shares in the last quarter. Alphinity Investment Management Pty Ltd increased its stake in shares of Baker Hughes by 348.2% during the fourth quarter. Alphinity Investment Management Pty Ltd now owns 2,324,511 shares of the company’s stock valued at $79,452,000 after purchasing an additional 1,805,870 shares in the last quarter. Royal Bank of Canada increased its stake in shares of Baker Hughes by 165.9% during the third quarter. Royal Bank of Canada now owns 2,228,646 shares of the company’s stock valued at $78,716,000 after purchasing an additional 1,390,574 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in Baker Hughes by 731.1% in the fourth quarter. Nordea Investment Management AB now owns 1,458,833 shares of the company’s stock worth $49,732,000 after acquiring an additional 1,283,296 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors.

Insider Activity at Baker Hughes

In related news, SVP James E. Apostolides sold 10,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total value of $294,400.00. Following the sale, the senior vice president now owns 14,451 shares in the company, valued at $425,437.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Baker Hughes news, SVP James E. Apostolides sold 5,000 shares of Baker Hughes stock in a transaction on Friday, April 5th. The shares were sold at an average price of $33.88, for a total transaction of $169,400.00. Following the completion of the transaction, the senior vice president now directly owns 14,998 shares of the company’s stock, valued at $508,132.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP James E. Apostolides sold 10,000 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total transaction of $294,400.00. Following the completion of the sale, the senior vice president now directly owns 14,451 shares in the company, valued at $425,437.44. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have issued reports on BKR. Barclays decreased their target price on shares of Baker Hughes from $43.00 to $42.00 and set an “overweight” rating for the company in a report on Friday, January 26th. The Goldman Sachs Group increased their target price on Baker Hughes from $36.00 to $38.00 in a research note on Tuesday, April 23rd. TD Cowen upped their price target on Baker Hughes from $46.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Morgan Stanley boosted their target price on Baker Hughes from $40.00 to $43.00 in a research report on Tuesday, April 23rd. Finally, Wolfe Research downgraded shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a report on Monday, January 29th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $40.94.

Baker Hughes Stock Performance

Baker Hughes stock traded up $0.62 during midday trading on Thursday, hitting $32.52. The stock had a trading volume of 819,797 shares, compared to its average volume of 8,406,571. The company has a current ratio of 1.25, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38. Baker Hughes has a 52-week low of $26.96 and a 52-week high of $37.58. The company has a market capitalization of $32.45 billion, a PE ratio of 17.82, a P/E/G ratio of 0.55 and a beta of 1.44. The firm’s fifty day moving average is $32.44 and its two-hundred day moving average is $32.36.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. The company had revenue of $6.42 billion for the quarter, compared to analysts’ expectations of $6.37 billion. Baker Hughes had a return on equity of 11.42% and a net margin of 6.95%. The firm’s revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.28 EPS. On average, research analysts forecast that Baker Hughes will post 2.08 EPS for the current year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 6th will be given a $0.21 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.58%. Baker Hughes’s dividend payout ratio is currently 46.93%.

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.