Baker Hughes (NASDAQ:BKR) Stock Position Reduced by Angeles Investment Advisors LLC

Angeles Investment Advisors LLC trimmed its position in Baker Hughes (NASDAQ:BKR) by 3.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,462 shares of the company’s stock after selling 577 shares during the quarter. Angeles Investment Advisors LLC’s holdings in Baker Hughes were worth $509,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Twin Tree Management LP boosted its holdings in Baker Hughes by 183.0% in the first quarter. Twin Tree Management LP now owns 338,738 shares of the company’s stock worth $11,348,000 after purchasing an additional 219,060 shares during the period. Cibc World Markets Corp lifted its position in shares of Baker Hughes by 59.4% in the 4th quarter. Cibc World Markets Corp now owns 274,046 shares of the company’s stock worth $9,367,000 after buying an additional 102,174 shares during the last quarter. Caxton Associates LP acquired a new position in shares of Baker Hughes in the 4th quarter valued at about $13,672,000. KBC Group NV grew its position in shares of Baker Hughes by 207.1% during the 4th quarter. KBC Group NV now owns 237,356 shares of the company’s stock valued at $8,113,000 after buying an additional 160,056 shares during the last quarter. Finally, Corient Private Wealth LLC grew its holdings in shares of Baker Hughes by 255.9% during the fourth quarter. Corient Private Wealth LLC now owns 332,623 shares of the company’s stock valued at $11,369,000 after purchasing an additional 239,160 shares during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Trading Up 0.3 %

Shares of NASDAQ:BKR opened at $33.40 on Monday. The firm has a fifty day moving average of $35.09 and a two-hundred day moving average of $33.52. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $39.05. The firm has a market capitalization of $33.18 billion, a P/E ratio of 18.66, a price-to-earnings-growth ratio of 0.54 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.08. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The firm had revenue of $7.10 billion during the quarter, compared to analysts’ expectations of $6.81 billion. During the same quarter last year, the firm earned $0.39 earnings per share. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. On average, equities analysts expect that Baker Hughes will post 2.24 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Tuesday, August 6th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend was Tuesday, August 6th. Baker Hughes’s payout ratio is presently 46.93%.

Insider Buying and Selling at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 114,286 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $35.00, for a total transaction of $4,000,010.00. Following the completion of the sale, the chief executive officer now owns 502,053 shares in the company, valued at approximately $17,571,855. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on BKR shares. The Goldman Sachs Group lifted their price target on Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, July 29th. Wells Fargo & Company upped their price target on shares of Baker Hughes from $35.00 to $40.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Jefferies Financial Group increased their price objective on Baker Hughes from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Susquehanna lifted their price target on Baker Hughes from $40.00 to $46.00 and gave the stock a “positive” rating in a research note on Monday, July 29th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Baker Hughes from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Baker Hughes currently has an average rating of “Moderate Buy” and an average target price of $43.38.

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.