Concurrent Investment Advisors LLC Invests $303,000 in Baker Hughes Company (NASDAQ:BKR)

Concurrent Investment Advisors LLC acquired a new position in Baker Hughes Company (NASDAQ:BKR - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 6,897 shares of the company's stock, valued at approximately $303,000.

Other institutional investors have also made changes to their positions in the company. Wayfinding Financial LLC bought a new position in shares of Baker Hughes in the first quarter worth about $28,000. Larson Financial Group LLC increased its stake in Baker Hughes by 41.2% during the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company's stock valued at $30,000 after acquiring an additional 216 shares during the period. Golden State Wealth Management LLC increased its stake in Baker Hughes by 678.7% during the first quarter. Golden State Wealth Management LLC now owns 693 shares of the company's stock valued at $30,000 after acquiring an additional 604 shares during the period. Grove Bank & Trust increased its stake in Baker Hughes by 76.2% during the first quarter. Grove Bank & Trust now owns 740 shares of the company's stock valued at $33,000 after acquiring an additional 320 shares during the period. Finally, Spire Wealth Management increased its stake in Baker Hughes by 132.9% during the first quarter. Spire Wealth Management now owns 815 shares of the company's stock valued at $36,000 after acquiring an additional 465 shares during the period. 92.06% of the stock is currently owned by institutional investors.

Baker Hughes Stock Performance

Shares of Baker Hughes stock opened at $40.70 on Friday. The firm has a fifty day moving average of $38.06 and a two-hundred day moving average of $40.99. The stock has a market capitalization of $40.32 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 4.96 and a beta of 0.91. Baker Hughes Company has a 52 week low of $32.25 and a 52 week high of $49.40. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.93 and a current ratio of 1.34.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. Baker Hughes had a net margin of 10.51% and a return on equity of 14.70%. The company had revenue of $6.43 billion during the quarter, compared to analysts' expectations of $6.54 billion. As a group, equities research analysts predict that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Tuesday, May 6th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend was Tuesday, May 6th. Baker Hughes's dividend payout ratio is currently 31.40%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Susquehanna lowered their price target on Baker Hughes from $48.00 to $46.00 and set a "positive" rating on the stock in a research note on Thursday, April 24th. Evercore ISI lowered their price target on Baker Hughes from $52.00 to $50.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Barclays lowered their price target on Baker Hughes from $54.00 to $48.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Stifel Nicolaus set a $50.00 price target on Baker Hughes and gave the company a "buy" rating in a research note on Thursday, April 24th. Finally, Royal Bank Of Canada decreased their price objective on Baker Hughes from $50.00 to $46.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, Baker Hughes has an average rating of "Moderate Buy" and a consensus price target of $48.50.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.