Angeles Wealth Management LLC Invests $209,000 in Baker Hughes (NASDAQ:BKR)

Angeles Wealth Management LLC purchased a new position in shares of Baker Hughes (NASDAQ:BKR) during the third quarter, HoldingsChannel reports. The firm purchased 5,787 shares of the company’s stock, valued at approximately $209,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its holdings in shares of Baker Hughes by 51.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,574 shares of the company’s stock worth $129,000 after purchasing an additional 1,208 shares in the last quarter. Affinity Investment Advisors LLC bought a new position in shares of Baker Hughes during the third quarter valued at about $246,000. Stephens Investment Management Group LLC boosted its holdings in Baker Hughes by 8.6% during the third quarter. Stephens Investment Management Group LLC now owns 400,603 shares of the company’s stock worth $14,482,000 after purchasing an additional 31,852 shares during the last quarter. Pinnacle Associates Ltd. boosted its holdings in Baker Hughes by 3.4% during the third quarter. Pinnacle Associates Ltd. now owns 174,889 shares of the company’s stock worth $5,978,000 after purchasing an additional 5,696 shares during the last quarter. Finally, First Trust Direct Indexing L.P. grew its position in Baker Hughes by 1.4% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 29,841 shares of the company’s stock worth $1,079,000 after purchasing an additional 398 shares in the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Stock Performance

Shares of BKR opened at $37.85 on Monday. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The stock has a 50-day moving average price of $35.98 and a 200-day moving average price of $34.56. The company has a market cap of $37.45 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 0.65 and a beta of 1.38. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $39.05.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. The company had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.21 billion. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.42 EPS. As a group, equities analysts forecast that Baker Hughes will post 2.28 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 4th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $0.84 annualized dividend and a dividend yield of 2.22%. Baker Hughes’s dividend payout ratio (DPR) is presently 37.67%.

Insider Buying and Selling

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of Baker Hughes stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $35.00, for a total transaction of $4,000,010.00. Following the transaction, the chief executive officer now directly owns 502,053 shares of the company’s stock, valued at approximately $17,571,855. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Stifel Nicolaus boosted their target price on Baker Hughes from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. UBS Group cut their price objective on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. The Goldman Sachs Group lifted their target price on Baker Hughes from $39.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Argus upgraded shares of Baker Hughes from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Finally, Evercore ISI boosted their target price on shares of Baker Hughes from $42.00 to $46.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $44.12.

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.