Birmingham Capital Management Co. Inc. AL Has $578,000 Position in Baker Hughes (NASDAQ:BKR)

Birmingham Capital Management Co. Inc. AL grew its holdings in Baker Hughes (NASDAQ:BKR) by 18.5% during the 3rd quarter, Holdings Channel reports. The firm owned 16,000 shares of the company’s stock after purchasing an additional 2,500 shares during the period. Birmingham Capital Management Co. Inc. AL’s holdings in Baker Hughes were worth $578,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in Baker Hughes during the third quarter worth $30,000. True Wealth Design LLC boosted its stake in shares of Baker Hughes by 2,181.6% during the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company’s stock worth $31,000 after buying an additional 829 shares during the last quarter. Groupama Asset Managment grew its holdings in shares of Baker Hughes by 1,045.1% in the 3rd quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock valued at $32,000 after acquiring an additional 811,711 shares in the last quarter. Continuum Advisory LLC increased its position in shares of Baker Hughes by 442.2% in the third quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock valued at $35,000 after acquiring an additional 796 shares during the last quarter. Finally, Alta Advisers Ltd bought a new stake in Baker Hughes during the second quarter worth about $42,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Stock Performance

BKR traded down $0.06 during midday trading on Friday, reaching $42.27. The company had a trading volume of 759,586 shares, compared to its average volume of 7,117,628. The business has a 50-day moving average price of $40.47 and a two-hundred day moving average price of $36.60. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $45.17. The stock has a market cap of $41.83 billion, a PE ratio of 18.98, a P/E/G ratio of 0.72 and a beta of 1.40.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The company had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.21 billion. During the same period in the previous year, the company posted $0.42 EPS. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, sell-side analysts expect that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were given a $0.21 dividend. The ex-dividend date was Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a yield of 1.99%. Baker Hughes’s payout ratio is 37.67%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BKR. Morgan Stanley increased their price objective on Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. BMO Capital Markets boosted their target price on shares of Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Benchmark reiterated a “buy” rating and set a $42.00 target price on shares of Baker Hughes in a research report on Thursday, October 24th. Royal Bank of Canada boosted their target price on Baker Hughes from $43.00 to $49.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Citigroup raised their price objective on Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $45.12.

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.