Valeo Financial Advisors LLC Invests $303,000 in Baker Hughes Company $BKR

Key Points

• Valeo Financial Advisors LLC purchased 7,891 shares of Baker Hughes, investing approximately $303,000 during the 2nd quarter.
• Insider transactions include CEO Lorenzo Simonelli selling 526,568 shares for over $23 million, reducing his ownership by 44.10%.
• Baker Hughes currently has a market cap of $47.21 billion and reported a quarterly earnings per share of $0.16 with a dividend yield of 1.9%.

Valeo Financial Advisors LLC bought a new stake in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 7,891 shares of the company's stock, valued at approximately $303,000.

Several other large investors have also recently bought and sold shares of the stock. LGT Fund Management Co Ltd. acquired a new position in Baker Hughes during the 2nd quarter valued at $310,000. QRG Capital Management Inc. raised its stake in Baker Hughes by 44.3% during the 2nd quarter. QRG Capital Management Inc. now owns 101,293 shares of the company's stock valued at $3,884,000 after purchasing an additional 31,088 shares during the last quarter. Fortis Capital Advisors LLC raised its stake in Baker Hughes by 4.2% during the 2nd quarter. Fortis Capital Advisors LLC now owns 16,764 shares of the company's stock valued at $643,000 after purchasing an additional 683 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in Baker Hughes during the 2nd quarter valued at $97,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in Baker Hughes by 6.8% during the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 99,592 shares of the company's stock valued at $3,818,000 after purchasing an additional 6,380 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 526,568 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $44.42, for a total value of $23,390,150.56. Following the sale, the chief executive officer owned 667,593 shares of the company's stock, valued at approximately $29,654,481.06. This represents a 44.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Rebecca L. Charlton sold 1,000 shares of the company's stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total transaction of $50,000.00. Following the completion of the sale, the chief accounting officer directly owned 11,772 shares in the company, valued at approximately $588,600. The trade was a 7.83% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 553,068 shares of company stock valued at $24,712,651. 0.27% of the stock is owned by insiders.

Baker Hughes Stock Up 0.1%

BKR opened at $47.89 on Friday. The firm's 50-day simple moving average is $45.90 and its 200-day simple moving average is $41.35. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41. Baker Hughes Company has a twelve month low of $33.60 and a twelve month high of $50.92. The firm has a market cap of $47.21 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 2.18 and a beta of 0.99.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its earnings results on Friday, November 18th. The company reported $0.16 earnings per share for the quarter. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. The business had revenue of $5.09 billion for the quarter. Equities research analysts anticipate that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were issued a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.9%. Baker Hughes's dividend payout ratio is presently 30.07%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on BKR shares. Melius Research started coverage on shares of Baker Hughes in a research note on Wednesday, August 20th. They set a "buy" rating and a $60.00 target price for the company. Citigroup boosted their price target on shares of Baker Hughes from $54.00 to $56.00 and gave the company a "buy" rating in a report on Wednesday. Seaport Res Ptn lowered shares of Baker Hughes from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 29th. Stifel Nicolaus lowered their price target on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a report on Wednesday, July 16th. Finally, Industrial Alliance Securities set a $53.00 price target on shares of Baker Hughes in a report on Wednesday, July 30th. Twenty-two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, Baker Hughes currently has an average rating of "Moderate Buy" and a consensus target price of $52.57.

About Baker Hughes

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.

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