Sequoia Financial Advisors LLC Sells 5,361 Shares of Baker Hughes (NASDAQ:BKR)

Sequoia Financial Advisors LLC lessened its holdings in Baker Hughes (NASDAQ:BKRFree Report) by 45.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,394 shares of the company’s stock after selling 5,361 shares during the period. Sequoia Financial Advisors LLC’s holdings in Baker Hughes were worth $214,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Blue Trust Inc. increased its position in Baker Hughes by 15.5% during the fourth quarter. Blue Trust Inc. now owns 2,432 shares of the company’s stock valued at $85,000 after acquiring an additional 327 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its position in Baker Hughes by 6.6% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 6,400 shares of the company’s stock valued at $219,000 after acquiring an additional 398 shares during the last quarter. Aspire Private Capital LLC increased its position in Baker Hughes by 9.3% during the fourth quarter. Aspire Private Capital LLC now owns 5,733 shares of the company’s stock valued at $196,000 after acquiring an additional 486 shares during the last quarter. Checchi Capital Advisers LLC increased its position in Baker Hughes by 6.4% during the first quarter. Checchi Capital Advisers LLC now owns 8,151 shares of the company’s stock valued at $273,000 after acquiring an additional 490 shares during the last quarter. Finally, Montag A & Associates Inc. increased its position in Baker Hughes by 100.0% during the fourth quarter. Montag A & Associates Inc. now owns 1,000 shares of the company’s stock valued at $34,000 after acquiring an additional 500 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Insider Buying and Selling

In related news, EVP Maria C. Borras sold 55,980 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $32.00, for a total value of $1,791,360.00. Following the transaction, the executive vice president now owns 92,035 shares in the company, valued at approximately $2,945,120. The sale was disclosed in a filing with the SEC, which is available through this link. 0.25% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Benchmark restated a “buy” rating and issued a $40.00 price target on shares of Baker Hughes in a report on Wednesday, April 24th. Morgan Stanley upped their price target on shares of Baker Hughes from $40.00 to $43.00 in a report on Tuesday, April 23rd. The Goldman Sachs Group upped their price target on shares of Baker Hughes from $36.00 to $38.00 in a report on Tuesday, April 23rd. Susquehanna restated a “positive” rating and issued a $40.00 price target on shares of Baker Hughes in a report on Monday, April 8th. Finally, UBS Group upped their price objective on shares of Baker Hughes from $35.00 to $36.00 in a research note on Tuesday, April 23rd. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $41.27.

Check Out Our Latest Stock Analysis on BKR

Baker Hughes Stock Performance

BKR opened at $33.84 on Thursday. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $37.58. The company has a quick ratio of 0.84, a current ratio of 1.25 and a debt-to-equity ratio of 0.38. The company has a market cap of $33.77 billion, a P/E ratio of 18.91, a price-to-earnings-growth ratio of 0.58 and a beta of 1.41. The firm’s 50-day moving average price is $32.86 and its 200-day moving average price is $32.07.

Baker Hughes (NASDAQ:BKRGet Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.03. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. The company had revenue of $6.42 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the prior year, the company earned $0.28 EPS. Baker Hughes’s quarterly revenue was up 12.3% on a year-over-year basis. As a group, equities analysts anticipate that Baker Hughes will post 2.09 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 6th were issued a $0.21 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $0.84 annualized dividend and a yield of 2.48%. Baker Hughes’s dividend payout ratio (DPR) is presently 46.93%.

About Baker Hughes

(Free Report)

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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Institutional Ownership by Quarter for Baker Hughes (NASDAQ:BKR)

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