Cookson Peirce & Co. Inc. Acquires 263,280 Shares of Baker Hughes Company $BKR

Cookson Peirce & Co. Inc. grew its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 544.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 311,670 shares of the company’s stock after acquiring an additional 263,280 shares during the period. Cookson Peirce & Co. Inc.’s holdings in Baker Hughes were worth $14,193,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of BKR. Cullen Frost Bankers Inc. raised its stake in shares of Baker Hughes by 344.1% during the fourth quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company’s stock valued at $27,000 after acquiring an additional 468 shares during the last quarter. JFS Wealth Advisors LLC raised its stake in shares of Baker Hughes by 45.1% during the fourth quarter. JFS Wealth Advisors LLC now owns 811 shares of the company’s stock valued at $37,000 after acquiring an additional 252 shares during the last quarter. Wolff Wiese Magana LLC raised its stake in shares of Baker Hughes by 55.6% during the fourth quarter. Wolff Wiese Magana LLC now owns 840 shares of the company’s stock valued at $38,000 after acquiring an additional 300 shares during the last quarter. Hilltop National Bank raised its stake in Baker Hughes by 26.7% during the fourth quarter. Hilltop National Bank now owns 1,423 shares of the company’s stock worth $65,000 after buying an additional 300 shares during the last quarter. Finally, Harbour Investments Inc. lifted its holdings in Baker Hughes by 31.4% in the fourth quarter. Harbour Investments Inc. now owns 1,442 shares of the company’s stock valued at $66,000 after buying an additional 345 shares during the period. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Trading Down 5.3%

Shares of BKR stock opened at $62.59 on Friday. Baker Hughes Company has a 52-week low of $37.38 and a 52-week high of $70.41. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.77 and a current ratio of 2.13. The company has a 50-day simple moving average of $63.91 and a two-hundred day simple moving average of $57.34. The company has a market capitalization of $62.09 billion, a price-to-earnings ratio of 20.00, a PEG ratio of 2.23 and a beta of 0.93.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.09. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. The business had revenue of $6.59 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same period in the prior year, the firm posted $0.51 EPS. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. Research analysts anticipate that Baker Hughes Company will post 2.31 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, May 5th. Baker Hughes’s dividend payout ratio is presently 29.39%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Piper Sandler boosted their target price on shares of Baker Hughes from $64.00 to $72.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. Citigroup decreased their target price on shares of Baker Hughes from $80.00 to $74.00 and set a “buy” rating for the company in a research report on Wednesday. Argus boosted their target price on shares of Baker Hughes from $67.00 to $79.00 in a research report on Friday, May 1st. Wall Street Zen downgraded shares of Baker Hughes from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Finally, Johnson Rice assumed coverage on shares of Baker Hughes in a research report on Wednesday, February 25th. They set a “buy” rating and a $68.00 target price for the company. Eighteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Baker Hughes presently has an average rating of “Moderate Buy” and a consensus target price of $69.14.

Insiders Place Their Bets

In other Baker Hughes news, insider Maria Georgia Magno sold 5,063 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $59.04, for a total value of $298,919.52. Following the completion of the sale, the insider directly owned 15,555 shares of the company’s stock, valued at approximately $918,367.20. This represents a 24.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Rebecca L. Charlton sold 5,088 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total transaction of $326,751.36. Following the completion of the sale, the chief accounting officer directly owned 15,997 shares of the company’s stock, valued at $1,027,327.34. The trade was a 24.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 282,745 shares of company stock valued at $16,651,472. Corporate insiders own 0.19% of the company’s stock.

Baker Hughes Company Profile

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm’s roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE’s oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.