Sequoia Financial Advisors LLC Has $402,000 Stake in Baker Hughes (NASDAQ:BKR)

Sequoia Financial Advisors LLC grew its stake in shares of Baker Hughes (NASDAQ:BKR) by 106.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 11,755 shares of the company’s stock after acquiring an additional 6,062 shares during the period. Sequoia Financial Advisors LLC’s holdings in Baker Hughes were worth $402,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BKR. Norges Bank bought a new stake in shares of Baker Hughes during the fourth quarter worth $195,343,000. FMR LLC grew its stake in shares of Baker Hughes by 16.8% in the third quarter. FMR LLC now owns 16,078,162 shares of the company’s stock worth $567,881,000 after purchasing an additional 2,316,638 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Baker Hughes by 846.7% in the third quarter. AQR Capital Management LLC now owns 2,378,976 shares of the company’s stock worth $84,025,000 after purchasing an additional 2,127,675 shares during the last quarter. Morgan Stanley grew its stake in shares of Baker Hughes by 27.2% in the fourth quarter. Morgan Stanley now owns 8,986,722 shares of the company’s stock worth $265,378,000 after purchasing an additional 1,919,760 shares during the last quarter. Finally, Clearbridge Investments LLC bought a new stake in shares of Baker Hughes in the first quarter worth $69,329,000. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Price Performance

Shares of NASDAQ BKR opened at $32.02 on Thursday. The firm’s 50-day moving average price is $31.55 and its 200-day moving average price is $32.60. Baker Hughes has a 1-year low of $26.81 and a 1-year high of $37.58. The firm has a market capitalization of $32.05 billion, a P/E ratio of 16.76, a P/E/G ratio of 0.67 and a beta of 1.42. The company has a current ratio of 1.25, a quick ratio of 0.86 and a debt-to-equity ratio of 0.38.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Wednesday, January 24th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.04. Baker Hughes had a net margin of 7.62% and a return on equity of 10.63%. The firm had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same quarter in the prior year, the business earned $0.38 earnings per share. The business’s quarterly revenue was up 15.7% compared to the same quarter last year. Equities research analysts anticipate that Baker Hughes will post 2.07 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Tuesday, February 13th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, February 12th. This represents a $0.84 annualized dividend and a dividend yield of 2.62%. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.20. Baker Hughes’s dividend payout ratio is currently 43.98%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Susquehanna reissued a “positive” rating and issued a $40.00 price objective on shares of Baker Hughes in a research note on Monday, April 8th. Wolfe Research cut shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 29th. Barclays reduced their price objective on shares of Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a research note on Friday, January 26th. Citigroup reduced their price objective on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, January 26th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $39.00 target price on shares of Baker Hughes in a report on Thursday, February 1st. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.87.

Insider Activity

In other news, SVP James E. Apostolides sold 5,000 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $33.88, for a total transaction of $169,400.00. Following the transaction, the senior vice president now owns 14,998 shares in the company, valued at $508,132.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP James E. Apostolides sold 5,000 shares of the business’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $33.88, for a total transaction of $169,400.00. Following the completion of the sale, the senior vice president now directly owns 14,998 shares of the company’s stock, valued at $508,132.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP James E. Apostolides sold 10,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total transaction of $294,400.00. Following the sale, the senior vice president now directly owns 14,451 shares of the company’s stock, valued at $425,437.44. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

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.