Blume Capital Management Inc. Sells 475 Shares of Baker Hughes (NASDAQ:BKR)

Blume Capital Management Inc. cut its holdings in Baker Hughes (NASDAQ:BKR) by 0.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 169,800 shares of the company’s stock after selling 475 shares during the period. Baker Hughes makes up 1.5% of Blume Capital Management Inc.’s investment portfolio, making the stock its 28th biggest holding. Blume Capital Management Inc.’s holdings in Baker Hughes were worth $5,804,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Bruce G. Allen Investments LLC acquired a new position in Baker Hughes in the 4th quarter valued at $33,000. OFI Invest Asset Management acquired a new stake in shares of Baker Hughes in the third quarter valued at about $36,000. Rational Advisors LLC increased its stake in shares of Baker Hughes by 44.0% in the third 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. Clearstead Advisors LLC lifted its position in shares of Baker Hughes by 38.2% during the 3rd quarter. Clearstead Advisors LLC now owns 1,523 shares of the company’s stock worth $54,000 after purchasing an additional 421 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Baker Hughes during the 3rd quarter worth about $76,000. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Stock Up 2.0 %

NASDAQ BKR traded up $0.64 during trading hours on Thursday, hitting $32.54. 796,392 shares of the company traded hands, compared to its average volume of 8,406,571. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.25. The business’s 50-day moving average is $32.44 and its 200-day moving average is $32.36. The stock has a market capitalization of $32.47 billion, a price-to-earnings ratio of 17.82, a P/E/G ratio of 0.55 and a beta of 1.44. Baker Hughes has a twelve month low of $26.96 and a twelve month high of $37.58.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. The firm had revenue of $6.42 billion during the quarter, compared to analysts’ expectations of $6.37 billion. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.28 earnings per share. Sell-side analysts anticipate that Baker Hughes will post 2.08 earnings per share for the current year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.58%. The ex-dividend date is Friday, May 3rd. Baker Hughes’s payout ratio is presently 46.93%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Barclays lowered their price target on shares of Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a report on Friday, January 26th. Morgan Stanley upped their target price on shares of Baker Hughes from $40.00 to $43.00 in a research report on Tuesday, April 23rd. TD Cowen raised their price target on shares of Baker Hughes from $46.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Citigroup reduced their price objective on Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, January 26th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $39.00 target price on shares of Baker Hughes in a research note on Thursday, February 1st. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $40.94.

Insider Buying and Selling

In other news, SVP James E. Apostolides sold 10,000 shares of the 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 transaction, the senior vice president now owns 14,451 shares in the company, valued at $425,437.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, SVP James E. Apostolides sold 5,000 shares of Baker Hughes stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $33.88, for a total value of $169,400.00. Following the completion of the sale, the senior vice president now directly owns 14,998 shares in the company, valued at $508,132.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP James E. Apostolides sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total value of $294,400.00. Following the completion of the sale, the senior vice president now owns 14,451 shares of the company’s stock, valued at $425,437.44. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

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.