Sequoia Financial Advisors LLC Sells 7,969 Shares of Baker Hughes (NASDAQ:BKR)

Sequoia Financial Advisors LLC decreased its holdings in shares of Baker Hughes (NASDAQ:BKR) by 40.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,904 shares of the company’s stock after selling 7,969 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Baker Hughes were worth $488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in shares of Baker Hughes by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 24,078,093 shares of the company’s stock valued at $867,514,000 after purchasing an additional 123,172 shares during the period. Hotchkis & Wiley Capital Management LLC grew its holdings in Baker Hughes by 34.7% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock valued at $394,775,000 after buying an additional 2,811,940 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Baker Hughes by 1.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,633,006 shares of the company’s stock valued at $348,233,000 after buying an additional 145,537 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Baker Hughes in the fourth quarter worth about $291,289,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Baker Hughes by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,086,903 shares of the company’s stock valued at $290,705,000 after acquiring an additional 135,200 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Maria C. Borras sold 8,000 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $44.77, for a total transaction of $358,160.00. Following the completion of the sale, the executive vice president now directly owns 173,302 shares in the company, valued at approximately $7,758,730.54. This represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.25% of the company’s stock.

Baker Hughes Stock Down 0.4 %

Shares of NASDAQ:BKR opened at $43.70 on Wednesday. Baker Hughes has a 12-month low of $30.93 and a 12-month high of $49.40. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. The stock’s 50-day moving average price is $44.90 and its 200-day moving average price is $41.21. The stock has a market capitalization of $43.27 billion, a P/E ratio of 14.66, a price-to-earnings-growth ratio of 2.00 and a beta of 1.30.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. On average, equities analysts anticipate that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were issued a dividend of $0.23 per share. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend was Tuesday, February 11th. Baker Hughes’s dividend payout ratio is currently 30.87%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. The Goldman Sachs Group upped their target price on shares of Baker Hughes from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Piper Sandler increased their price objective on Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. boosted their target price on Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Susquehanna raised their price target on Baker Hughes from $53.00 to $55.00 and gave the company a “positive” rating in a report on Monday, February 3rd. Finally, Atb Cap Markets lowered Baker Hughes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $51.06.

Baker Hughes Company 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.