Dogwood Wealth Management LLC Acquires Shares of 13,933 Baker Hughes Company (NASDAQ:BKR)

Dogwood Wealth Management LLC bought a new position in shares of Baker Hughes Company (NASDAQ:BKR) during the first quarter, HoldingsChannel reports. The fund bought 13,933 shares of the company’s stock, valued at approximately $612,000.

A number of other institutional investors have also modified their holdings of the business. Larson Financial Group LLC raised its stake in shares of Baker Hughes by 41.2% during the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock worth $30,000 after buying an additional 216 shares in the last quarter. Alpine Woods Capital Investors LLC raised its position in Baker Hughes by 0.7% during the fourth quarter. Alpine Woods Capital Investors LLC now owns 40,467 shares of the company’s stock worth $1,660,000 after acquiring an additional 267 shares during the last quarter. Greenleaf Trust lifted its stake in Baker Hughes by 2.2% in the 1st quarter. Greenleaf Trust now owns 13,852 shares of the company’s stock valued at $609,000 after buying an additional 293 shares in the last quarter. Commerce Bank increased its position in Baker Hughes by 1.0% during the 4th quarter. Commerce Bank now owns 31,075 shares of the company’s stock worth $1,275,000 after purchasing an additional 300 shares in the last quarter. Finally, Grove Bank & Trust boosted its position in Baker Hughes by 76.2% during the first quarter. Grove Bank & Trust now owns 740 shares of the company’s stock worth $33,000 after acquiring an additional 320 shares during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BKR has been the subject of several research analyst reports. Morgan Stanley dropped their price target on shares of Baker Hughes from $55.00 to $45.00 and set an “overweight” rating for the company in a research report on Friday, May 16th. Citigroup cut their price target on Baker Hughes from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Royal Bank Of Canada dropped their price target on shares of Baker Hughes from $50.00 to $46.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. TD Securities lowered their target price on shares of Baker Hughes from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Finally, Barclays decreased their price target on Baker Hughes from $54.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $48.50.

Baker Hughes Trading Up 2.6%

NASDAQ BKR opened at $40.11 on Wednesday. The firm’s 50 day moving average price is $37.84 and its two-hundred day moving average price is $41.00. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.93 and a current ratio of 1.34. Baker Hughes Company has a twelve month low of $32.25 and a twelve month high of $49.40. The stock has a market cap of $39.74 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 4.21 and a beta of 0.91.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.03. The business had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.54 billion. Baker Hughes had a return on equity of 14.70% and a net margin of 10.51%. Equities analysts anticipate that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date was Tuesday, May 6th. Baker Hughes’s dividend payout ratio (DPR) 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.