Cookson Peirce & Co. Inc. Raises Stake in Baker Hughes (NASDAQ:BKR)

Cookson Peirce & Co. Inc. boosted its position in Baker Hughes (NASDAQ:BKR) by 7.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,127 shares of the company’s stock after buying an additional 2,748 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in Baker Hughes were worth $1,406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Louisiana State Employees Retirement System bought a new stake in Baker Hughes in the fourth quarter valued at approximately $4,813,000. Nordea Investment Management AB raised its holdings in shares of Baker Hughes by 731.1% during the fourth quarter. Nordea Investment Management AB now owns 1,458,833 shares of the company’s stock valued at $49,732,000 after acquiring an additional 1,283,296 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Baker Hughes by 12.0% during the third quarter. Wellington Management Group LLP now owns 905,513 shares of the company’s stock valued at $31,983,000 after acquiring an additional 97,108 shares in the last quarter. Artemis Investment Management LLP raised its holdings in shares of Baker Hughes by 8.7% during the fourth quarter. Artemis Investment Management LLP now owns 3,111,853 shares of the company’s stock valued at $106,365,000 after acquiring an additional 248,125 shares in the last quarter. Finally, DDD Partners LLC bought a new position in shares of Baker Hughes during the fourth quarter valued at approximately $11,054,000. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on BKR shares. Wolfe Research downgraded Baker Hughes from an “outperform” rating to a “peer perform” rating in a report on Monday, January 29th. TD Cowen upped their price target on Baker Hughes from $46.00 to $49.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Barclays reduced their price target on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a research note on Friday, January 26th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $39.00 price target on shares of Baker Hughes in a research note on Thursday, February 1st. Finally, Susquehanna reissued a “positive” rating and issued a $40.00 target price on shares of Baker Hughes in a research note on Monday, April 8th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $40.87.

Baker Hughes Stock Down 1.1 %

NASDAQ BKR opened at $32.10 on Wednesday. The stock’s 50-day moving average price is $31.49 and its 200-day moving average price is $32.60. The company has a quick ratio of 0.86, a current ratio of 1.25 and a debt-to-equity ratio of 0.38. Baker Hughes has a 52 week low of $26.81 and a 52 week high of $37.58. The company has a market capitalization of $32.13 billion, a P/E ratio of 16.81, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Wednesday, January 24th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.47 by $0.04. Baker Hughes had a return on equity of 10.63% and a net margin of 7.62%. The firm had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter last year, the company earned $0.38 earnings per share. The business’s revenue for the quarter was up 15.7% compared to the same quarter last year. On average, equities research analysts predict that Baker Hughes will post 2.07 earnings per share for the current year.

Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Tuesday, February 13th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.62%. The ex-dividend date was Monday, February 12th. This is an increase from Baker Hughes’s previous quarterly dividend of $0.20. Baker Hughes’s dividend payout ratio (DPR) is 43.98%.

Insider Activity at Baker Hughes

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

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.