Sanctuary Advisors LLC Takes $1.51 Million Position in Baker Hughes (NASDAQ:BKR)

Sanctuary Advisors LLC purchased a new stake in Baker Hughes (NASDAQ:BKRFree Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 45,813 shares of the company’s stock, valued at approximately $1,505,000.

Other large investors have also modified their holdings of the company. Redmont Wealth Advisors LLC bought a new stake in shares of Baker Hughes in the 1st quarter valued at about $27,000. New Covenant Trust Company N.A. bought a new stake in shares of Baker Hughes in the 1st quarter valued at about $34,000. Alta Advisers Ltd bought a new position in shares of Baker Hughes during the 2nd quarter worth approximately $42,000. Headlands Technologies LLC bought a new position in shares of Baker Hughes during the 2nd quarter worth approximately $48,000. Finally, UMB Bank n.a. raised its stake in shares of Baker Hughes by 281.2% during the 1st quarter. UMB Bank n.a. now owns 1,582 shares of the company’s stock worth $53,000 after acquiring an additional 1,167 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Up 0.3 %

BKR stock opened at $37.59 on Thursday. The firm’s fifty day simple moving average is $35.29 and its 200-day simple moving average is $34.09. The company has a market capitalization of $37.51 billion, a P/E ratio of 21.00, a price-to-earnings-growth ratio of 0.59 and a beta of 1.38. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 0.86. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $39.05.

Baker Hughes (NASDAQ:BKRGet Free Report) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.49 by $0.08. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The business had revenue of $7.10 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same period in the prior year, the firm earned $0.39 EPS. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. As a group, equities research analysts forecast that Baker Hughes will post 2.25 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Tuesday, August 6th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend was Tuesday, August 6th. Baker Hughes’s dividend payout ratio (DPR) is presently 46.93%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Piper Sandler reduced their price objective on shares of Baker Hughes from $45.00 to $44.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Wells Fargo & Company upgraded shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $40.00 to $42.00 in a research note on Wednesday, September 25th. JPMorgan Chase & Co. boosted their price objective on shares of Baker Hughes from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. UBS Group reduced their price objective on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. Finally, Citigroup reduced their price objective on shares of Baker Hughes from $44.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, September 27th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, Baker Hughes currently has an average rating of “Moderate Buy” and an average target price of $43.56.

Read Our Latest Analysis on BKR

Insider Buying and Selling

In related news, CEO Lorenzo Simonelli sold 114,286 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $35.00, for a total transaction of $4,000,010.00. Following the sale, the chief executive officer now directly owns 502,053 shares of the company’s stock, valued at approximately $17,571,855. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.25% of the stock is currently owned by insiders.

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.

Further Reading

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

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