Cornercap Investment Counsel Inc. Has $850,000 Holdings in Baker Hughes (NASDAQ:BKR)

Cornercap Investment Counsel Inc. decreased its holdings in Baker Hughes (NASDAQ:BKR) by 57.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,712 shares of the company’s stock after selling 27,853 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Baker Hughes were worth $850,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of BKR. Transamerica Financial Advisors Inc. bought a new stake in shares of Baker Hughes during the 4th quarter valued at $4,129,000. Allstate Corp bought a new stake in Baker Hughes during the fourth quarter worth about $1,209,000. Brown Brothers Harriman & Co. increased its holdings in Baker Hughes by 326.2% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,824 shares of the company’s stock valued at $75,000 after buying an additional 1,396 shares during the period. DnB Asset Management AS raised its position in shares of Baker Hughes by 1.7% in the 4th quarter. DnB Asset Management AS now owns 187,832 shares of the company’s stock valued at $7,705,000 after buying an additional 3,103 shares in the last quarter. Finally, Level Four Advisory Services LLC raised its position in shares of Baker Hughes by 124.8% in the 4th quarter. Level Four Advisory Services LLC now owns 17,225 shares of the company’s stock valued at $707,000 after buying an additional 9,564 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Insider Transactions at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $44.77, for a total transaction of $358,160.00. Following the completion of the transaction, the executive vice president now directly owns 173,302 shares in the company, valued at $7,758,730.54. This trade represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on BKR. Atb Cap Markets downgraded shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. raised their price objective on Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Barclays boosted their target price on Baker Hughes from $51.00 to $55.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Jefferies Financial Group raised their price target on shares of Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Finally, TD Cowen lowered their price objective on shares of Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $51.06.

Baker Hughes Price Performance

Shares of BKR opened at $43.08 on Friday. The firm has a market cap of $42.65 billion, a PE ratio of 14.46, a price-to-earnings-growth ratio of 2.00 and a beta of 1.30. Baker Hughes has a 52-week low of $30.93 and a 52-week high of $49.40. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. The business’s 50 day moving average price is $44.81 and its two-hundred day moving average price is $41.67.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. On average, equities analysts anticipate that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date was Tuesday, February 11th. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s dividend payout ratio (DPR) is 30.87%.

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.