This appears to be Phytophthora Bleeding Canker which is common on thin-barked tree like beech trees. See the helpful management section in this article UMASS Amherst:

Landscape: Phytophthora Bleeding Canker | Center for Agriculture, Food, and the Environment at UMass Amherst 

The bark drench products recommended in the article above may require a licensed commercial pesticide applicator to purchase and apply. Many arboriculture companies can treat with these bark drenches. To find an arborist in your area click on 'ISA Certified Arborist CLICK HERE' and follow the prompts:

Resources - ISA Michigan (asm-isa.org) 

This article from Purdue has some additional info including some info on sending in a sample to lab to confirm.

Phytophthora Bleeding Canker (purduelandscapereport.org) 

If you would like to send in a sample to MSU's Plant Diagnostic Lab to confirm, here is the link to their page: 

Plant & Pest Diagnostics (msu.edu)