Venturi Wealth Management LLC Buys 1,190 Shares of Baker Hughes (NASDAQ:BKR)

Venturi Wealth Management LLC boosted its stake in Baker Hughes (NASDAQ:BKR) by 42.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,998 shares of the company’s stock after acquiring an additional 1,190 shares during the quarter. Venturi Wealth Management LLC’s holdings in Baker Hughes were worth $145,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Chartwell Investment Partners LLC raised its stake in shares of Baker Hughes by 27.1% in the 3rd quarter. Chartwell Investment Partners LLC now owns 299,804 shares of the company’s stock valued at $10,838,000 after purchasing an additional 63,840 shares during the period. Ashton Thomas Securities LLC bought a new position in shares of Baker Hughes during the third quarter worth about $30,000. Crossmark Global Holdings Inc. raised its position in Baker Hughes by 2.5% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 44,795 shares of the company’s stock valued at $1,620,000 after buying an additional 1,104 shares during the last quarter. Atria Investments Inc lifted its stake in Baker Hughes by 11.3% in the 3rd quarter. Atria Investments Inc now owns 14,822 shares of the company’s stock valued at $536,000 after acquiring an additional 1,505 shares in the last quarter. Finally, Bridges Investment Management Inc. boosted its position in Baker Hughes by 3.1% during the 3rd quarter. Bridges Investment Management Inc. now owns 9,203 shares of the company’s stock worth $333,000 after acquiring an additional 273 shares during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Stock Down 1.4 %

BKR opened at $43.07 on Thursday. 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’s fifty day simple moving average is $36.94 and its 200 day simple moving average is $35.01. Baker Hughes has a 1-year low of $28.32 and a 1-year high of $44.49. The stock has a market cap of $42.62 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 0.74 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.06. The company had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.21 billion. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The company’s revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.42 earnings per share. As a group, research analysts expect that Baker Hughes will post 2.29 earnings per share for the current year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders 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 yield of 1.95%. Baker Hughes’s dividend payout ratio (DPR) is presently 37.67%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on BKR shares. The Goldman Sachs Group lifted their price objective on shares of Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, July 29th. BMO Capital Markets lifted their price target on shares of Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. 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 research note on Monday, July 29th. TD Cowen lifted their target price on Baker Hughes from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, Jefferies Financial Group upped their target price on Baker Hughes from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $44.12.

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.