Angeles Investment Advisors LLC Decreases Stake in Baker Hughes (NASDAQ:BKR)

Angeles Investment Advisors LLC decreased its holdings in Baker Hughes (NASDAQ:BKR) by 3.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BKR. Twin Tree Management LP grew its holdings in shares of Baker Hughes by 183.0% in the 1st quarter. Twin Tree Management LP now owns 338,738 shares of the company’s stock worth $11,348,000 after acquiring an additional 219,060 shares during the period. Cibc World Markets Corp increased its position in shares of Baker Hughes by 59.4% in the fourth quarter. Cibc World Markets Corp now owns 274,046 shares of the company’s stock valued at $9,367,000 after buying an additional 102,174 shares in the last quarter. Caxton Associates LP acquired a new position in shares of Baker Hughes during the 4th quarter worth $13,672,000. KBC Group NV raised its stake 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 worth $8,113,000 after buying an additional 160,056 shares during the last quarter. Finally, Corient Private Wealth LLC lifted its holdings in shares of Baker Hughes by 255.9% in 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 in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Wall Street Analyst Weigh In

BKR has been the topic of several analyst reports. Bank of America decreased their price target on shares of Baker Hughes from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Royal Bank of Canada lifted their price target on Baker Hughes from $39.00 to $43.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Evercore ISI increased their price objective on shares of Baker Hughes from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Stifel Nicolaus boosted their target price on shares of Baker Hughes from $40.00 to $45.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, The Goldman Sachs Group increased their price target on shares of Baker Hughes from $39.00 to $43.00 and gave the stock a “buy” 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, the company has an average rating of “Moderate Buy” and a consensus target price of $43.38.

Insider Buying and Selling

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of the firm’s stock in a transaction that occurred on 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.25% of the company’s stock.

Baker Hughes Stock Performance

Baker Hughes stock opened at $33.40 on Monday. The firm has a market capitalization of $33.18 billion, a PE ratio of 18.66, a price-to-earnings-growth ratio of 0.54 and a beta of 1.38. Baker Hughes has a one year low of $28.32 and a one year high of $39.05. The stock’s 50 day moving average price is $35.09 and its 200 day moving average price is $33.52. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.27.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Thursday, July 25th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.08. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The business had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $6.81 billion. During the same period in the prior year, the firm earned $0.39 earnings per share. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, sell-side analysts expect that Baker Hughes will post 2.24 EPS for the current fiscal year.

Baker Hughes Announces Dividend

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

Baker Hughes 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.