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

Cookson Peirce & Co. Inc. increased its position in Baker Hughes (NASDAQ:BKR) by 7.2% in the 4th quarter, Holdings Channel reports. The firm owned 41,127 shares of the company’s stock after buying an additional 2,748 shares during the period. Cookson Peirce & Co. Inc.’s holdings in Baker Hughes were worth $1,406,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Hall Laurie J Trustee acquired a new position in Baker Hughes in the 3rd quarter valued at about $28,000. Bruce G. Allen Investments LLC acquired a new position in Baker Hughes during the 4th quarter worth approximately $33,000. OFI Invest Asset Management acquired a new position in Baker Hughes during the 3rd quarter worth approximately $36,000. Quarry LP increased its position in Baker Hughes by 41.3% during the 2nd quarter. Quarry LP now owns 1,132 shares of the company’s stock worth $36,000 after purchasing an additional 331 shares during the period. Finally, Rational Advisors LLC increased its position in Baker Hughes by 44.0% during the 3rd quarter. Rational Advisors LLC now owns 1,250 shares of the company’s stock worth $44,000 after purchasing an additional 382 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Price Performance

BKR stock opened at $32.10 on Wednesday. Baker Hughes has a 1 year low of $26.81 and a 1 year high of $37.58. The firm has a market cap of $32.13 billion, a P/E ratio of 16.81, a PEG ratio of 0.67 and a beta of 1.42. 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 debt-to-equity ratio of 0.38, a quick ratio of 0.86 and a current ratio of 1.25.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Wednesday, January 24th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.04. Baker Hughes had a return on equity of 10.63% and a net margin of 7.62%. The company had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same quarter in the prior year, the company posted $0.38 EPS. The business’s revenue for the quarter was up 15.7% compared to the same quarter last year. On average, sell-side analysts expect that Baker Hughes will post 2.07 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

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

Analyst Ratings Changes

Several research firms have issued reports on BKR. Royal Bank of Canada reiterated an “outperform” rating and set a $39.00 target price on shares of Baker Hughes in a research report on Thursday, February 1st. Citigroup lowered their price target on Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, January 26th. Wolfe Research cut 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 report on Thursday, January 25th. Finally, Barclays lowered their price target on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a report on Friday, January 26th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $40.87.

Insiders Place Their Bets

In other Baker Hughes news, SVP James E. Apostolides sold 10,000 shares of the stock in a transaction 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 transaction, the senior vice president now owns 14,451 shares of the company’s stock, valued at approximately $425,437.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, SVP James E. Apostolides sold 5,000 shares of the stock in a transaction 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 transaction, the senior vice president now directly owns 14,998 shares of the company’s stock, valued at approximately $508,132.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP James E. Apostolides sold 10,000 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total value of $294,400.00. Following the completion of the transaction, 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. Corporate insiders own 0.25% of the company’s stock.

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.