Dogwood Wealth Management LLC Invests $612,000 in Baker Hughes Company (NASDAQ:BKR)

Dogwood Wealth Management LLC acquired a new position in Baker Hughes Company (NASDAQ:BKR - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 13,933 shares of the company's stock, valued at approximately $612,000.

Several other institutional investors also recently modified their holdings of the company. Jones Financial Companies Lllp lifted its holdings in shares of Baker Hughes by 144.6% during the fourth quarter. Jones Financial Companies Lllp now owns 9,069 shares of the company's stock valued at $372,000 after acquiring an additional 5,362 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Baker Hughes during the fourth quarter worth $30,000. Assetmark Inc. raised its stake in shares of Baker Hughes by 17.6% during the fourth quarter. Assetmark Inc. now owns 23,719 shares of the company's stock worth $973,000 after buying an additional 3,556 shares during the last quarter. Atria Investments Inc lifted its stake in shares of Baker Hughes by 172.6% in the 4th quarter. Atria Investments Inc now owns 40,407 shares of the company's stock valued at $1,657,000 after purchasing an additional 25,585 shares during the period. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Baker Hughes in the 4th quarter valued at approximately $4,410,000. Institutional investors and hedge funds own 92.06% of the company's stock.

Analyst Ratings Changes

BKR has been the topic of several research analyst reports. Evercore ISI dropped their price objective on Baker Hughes from $52.00 to $50.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Citigroup dropped their price target on Baker Hughes from $54.00 to $53.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Barclays decreased their price objective on Baker Hughes from $54.00 to $48.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. TD Cowen dropped their target price on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Finally, Morgan Stanley reduced their price target on shares of Baker Hughes from $55.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Two equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $48.50.

Baker Hughes Trading Up 2.5%

Shares of NASDAQ BKR traded up $0.99 during midday trading on Friday, reaching $40.70. The company had a trading volume of 5,832,208 shares, compared to its average volume of 7,191,900. The company has a quick ratio of 0.93, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. Baker Hughes Company has a one year low of $32.25 and a one year high of $49.40. The firm's fifty day moving average price is $37.99 and its 200-day moving average price is $40.99. The stock has a market cap of $40.32 billion, a PE ratio of 13.89, a price-to-earnings-growth ratio of 4.25 and a beta of 0.91.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.03. Baker Hughes had a net margin of 10.51% and a return on equity of 14.70%. The company had revenue of $6.43 billion for the quarter, compared to analysts' expectations of $6.54 billion. On average, equities research analysts anticipate that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend was Tuesday, May 6th. Baker Hughes's dividend payout ratio is presently 31.40%.

Baker Hughes 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.