Kingsman Wealth Management Inc. Buys Shares of 10,060 Baker Hughes Company (NASDAQ:BKR)

Kingsman Wealth Management Inc. bought a new position in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 10,060 shares of the company's stock, valued at approximately $442,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in BKR. Wayfinding Financial LLC acquired a new stake in Baker Hughes during the 1st quarter worth approximately $28,000. Golden State Wealth Management LLC raised its holdings in Baker Hughes by 678.7% in the 1st quarter. Golden State Wealth Management LLC now owns 693 shares of the company's stock valued at $30,000 after acquiring an additional 604 shares in the last quarter. Grove Bank & Trust raised its holdings in Baker Hughes by 76.2% in the 1st quarter. Grove Bank & Trust now owns 740 shares of the company's stock valued at $33,000 after acquiring an additional 320 shares in the last quarter. Spire Wealth Management raised its holdings in Baker Hughes by 132.9% in the 1st quarter. Spire Wealth Management now owns 815 shares of the company's stock valued at $36,000 after acquiring an additional 465 shares in the last quarter. Finally, Tsfg LLC raised its holdings in Baker Hughes by 278.8% in the 1st quarter. Tsfg LLC now owns 1,485 shares of the company's stock valued at $65,000 after acquiring an additional 1,093 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on BKR. The Goldman Sachs Group reduced their price target on Baker Hughes from $42.00 to $41.00 and set a "buy" rating on the stock in a research report on Wednesday, July 2nd. Citigroup lowered their price objective on Baker Hughes from $54.00 to $53.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Barclays reduced their target price on Baker Hughes from $54.00 to $48.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. TD Cowen reduced their price objective on Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Finally, Susquehanna dropped their target price on Baker Hughes from $48.00 to $46.00 and set a "positive" rating on the stock in a research report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $48.44.

Baker Hughes Stock Performance

NASDAQ:BKR traded up $0.13 during trading hours on Monday, reaching $39.85. The company had a trading volume of 9,310,237 shares, compared to its average volume of 7,234,502. The company has a current ratio of 1.34, a quick ratio of 0.93 and a debt-to-equity ratio of 0.35. Baker Hughes Company has a 52 week low of $32.25 and a 52 week high of $49.40. The firm has a market cap of $39.48 billion, a price-to-earnings ratio of 13.60, a PEG ratio of 4.96 and a beta of 0.91. The firm's 50 day moving average price is $38.35 and its 200-day moving average price is $40.93.

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

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.31%. The ex-dividend date was Tuesday, May 6th. Baker Hughes's dividend payout ratio is 31.40%.

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.