Lake Street Advisors Group LLC Has $211,000 Holdings in Baker Hughes (NASDAQ:BKR)

Lake Street Advisors Group LLC trimmed its holdings in shares of Baker Hughes (NASDAQ:BKR) by 13.3% in the second quarter, HoldingsChannel reports. The firm owned 5,987 shares of the company’s stock after selling 920 shares during the period. Lake Street Advisors Group LLC’s holdings in Baker Hughes were worth $211,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Savant Capital LLC raised its stake in shares of Baker Hughes by 9.9% in the second quarter. Savant Capital LLC now owns 95,908 shares of the company’s stock worth $3,373,000 after acquiring an additional 8,633 shares during the last quarter. Sustainable Insight Capital Management LLC acquired a new stake in shares of Baker Hughes in the second quarter valued at approximately $271,000. Candriam S.C.A. raised its position in Baker Hughes by 13.4% in the 2nd quarter. Candriam S.C.A. now owns 87,219 shares of the company’s stock worth $3,067,000 after purchasing an additional 10,294 shares during the last quarter. Hohimer Wealth Management LLC acquired a new position in Baker Hughes during the 2nd quarter worth $1,100,000. Finally, Impact Partnership Wealth LLC bought a new position in Baker Hughes in the 2nd quarter valued at $640,000. Institutional investors own 92.06% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on BKR shares. Bank of America dropped their target price on Baker Hughes from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Jefferies Financial Group boosted their price objective on Baker Hughes from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Evercore ISI raised 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. Susquehanna boosted their price target on shares of Baker Hughes from $40.00 to $46.00 and gave the stock a “positive” rating in a research note on Monday, July 29th. Finally, TD Cowen increased their price objective on shares of Baker Hughes from $46.00 to $50.00 and gave the company a “buy” rating in a report on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $43.38.

Insider Activity at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of the 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 transaction, 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 available through the SEC website. 0.25% of the stock is currently owned by insiders.

Baker Hughes Stock Performance

BKR stock opened at $33.69 on Tuesday. Baker Hughes has a 1-year low of $28.32 and a 1-year high of $39.05. The company has a current ratio of 1.27, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37. The firm has a market cap of $33.47 billion, a PE ratio of 18.82, a P/E/G ratio of 0.55 and a beta of 1.38. The business’s 50-day moving average price is $35.19 and its two-hundred day moving average price is $33.42.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data 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 return on equity of 12.45% and a net margin of 7.37%. The business had revenue of $7.10 billion for the quarter, compared to analysts’ expectations of $6.81 billion. During the same quarter in the previous year, the business posted $0.39 EPS. Baker Hughes’s revenue for the quarter was up 12.4% on a year-over-year basis. As a group, research analysts forecast that Baker Hughes will post 2.24 earnings per share for the current year.

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Tuesday, August 6th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.49%. Baker Hughes’s payout ratio is 46.93%.

Baker Hughes Company 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.