13,933 Shares in Baker Hughes Company (NASDAQ:BKR) Acquired by Dogwood Wealth Management LLC

Dogwood Wealth Management LLC acquired a new stake in Baker Hughes Company (NASDAQ:BKR - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 13,933 shares of the company's stock, valued at approximately $612,000.

Other institutional investors have also bought and sold shares of the company. Wayfinding Financial LLC bought a new position in shares of Baker Hughes in the first quarter worth $28,000. Larson Financial Group LLC boosted its position in Baker Hughes by 41.2% during the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company's stock valued at $30,000 after buying an additional 216 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Baker Hughes during the fourth quarter valued at about $30,000. Golden State Wealth Management LLC boosted its position in Baker Hughes by 678.7% during the first quarter. Golden State Wealth Management LLC now owns 693 shares of the company's stock valued at $30,000 after buying an additional 604 shares during the period. Finally, Grove Bank & Trust boosted its position in Baker Hughes by 76.2% during the first quarter. Grove Bank & Trust now owns 740 shares of the company's stock valued at $33,000 after buying an additional 320 shares during the period. Hedge funds and other institutional investors own 92.06% of the company's stock.

Baker Hughes Trading Down 1.9%

Shares of BKR stock traded down $0.78 during trading hours on Wednesday, reaching $39.33. 7,624,825 shares of the stock were exchanged, compared to its average volume of 7,173,169. Baker Hughes Company has a 12-month low of $32.25 and a 12-month high of $49.40. The company has a current ratio of 1.34, a quick ratio of 0.93 and a debt-to-equity ratio of 0.35. The company's 50-day moving average price is $37.84 and its 200-day moving average price is $41.00. The firm has a market capitalization of $38.97 billion, a price-to-earnings ratio of 13.42, a price-to-earnings-growth ratio of 4.21 and a beta of 0.91.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $6.43 billion during the quarter, compared to analysts' expectations of $6.54 billion. Baker Hughes had a net margin of 10.51% and a return on equity of 14.70%. As a group, equities analysts anticipate that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th were issued a $0.23 dividend. The ex-dividend date was Tuesday, May 6th. This represents a $0.92 annualized dividend and a dividend yield of 2.34%. Baker Hughes's dividend payout ratio is currently 31.40%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on BKR shares. Piper Sandler dropped their target price on shares of Baker Hughes from $53.00 to $50.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. TD Securities decreased their target price on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Susquehanna cut their price target on shares of Baker Hughes from $48.00 to $46.00 and set a "positive" rating on the stock in a report on Thursday, April 24th. Morgan Stanley dropped their target price on shares of Baker Hughes from $55.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Finally, Evercore ISI dropped their price target on shares of Baker Hughes from $52.00 to $50.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $48.50.

About Baker Hughes

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.