Sequoia Financial Advisors LLC Has $718,000 Stock Holdings in Baker Hughes (NASDAQ:BKR)

Sequoia Financial Advisors LLC increased its holdings in shares of Baker Hughes (NASDAQ:BKR) by 156.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 19,873 shares of the company’s stock after acquiring an additional 12,137 shares during the period. Sequoia Financial Advisors LLC’s holdings in Baker Hughes were worth $718,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in BKR. Twin Tree Management LP raised its holdings in shares of Baker Hughes by 183.0% during the first quarter. Twin Tree Management LP now owns 338,738 shares of the company’s stock valued at $11,348,000 after purchasing an additional 219,060 shares during the period. Diversified Trust Co raised its stake in Baker Hughes by 98.7% during the 1st quarter. Diversified Trust Co now owns 50,029 shares of the company’s stock worth $1,676,000 after buying an additional 24,850 shares during the period. Wedge Capital Management L L P NC boosted its holdings in Baker Hughes by 20.5% in the second quarter. Wedge Capital Management L L P NC now owns 726,291 shares of the company’s stock worth $25,544,000 after acquiring an additional 123,689 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its stake in Baker Hughes by 134.7% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 238,857 shares of the company’s stock valued at $8,002,000 after acquiring an additional 137,099 shares during the period. Finally, Wakefield Asset Management LLLP increased its holdings in shares of Baker Hughes by 132.1% during the first quarter. Wakefield Asset Management LLLP now owns 118,484 shares of the company’s stock valued at $3,969,000 after acquiring an additional 67,440 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Lorenzo Simonelli sold 114,286 shares of Baker Hughes stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $38.55, for a total value of $4,405,725.30. Following the sale, the chief executive officer now owns 616,339 shares of the company’s stock, valued at approximately $23,759,868.45. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

BKR has been the topic of a number of recent research reports. Stifel Nicolaus increased their target price on Baker Hughes from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Jefferies Financial Group lifted their price objective on shares of Baker Hughes from $46.00 to $48.00 and gave the company a “buy” rating in a report on Monday, July 29th. Wells Fargo & Company raised shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $40.00 to $42.00 in a research report on Wednesday, September 25th. Evercore ISI raised their price target on shares of Baker Hughes from $42.00 to $46.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Finally, Morgan Stanley lifted their price target on Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, Baker Hughes has a consensus rating of “Moderate Buy” and a consensus price target of $44.12.

Baker Hughes Stock Performance

Shares of Baker Hughes stock opened at $37.52 on Friday. The business’s fifty day simple moving average is $35.70 and its 200 day simple moving average is $34.39. The company has a current ratio of 1.27, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $39.05. The firm has a market capitalization of $37.44 billion, a P/E ratio of 20.96, a price-to-earnings-growth ratio of 0.61 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. The company had revenue of $6.91 billion for the quarter, compared to analysts’ expectations of $7.21 billion. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.42 EPS. As a group, analysts anticipate that Baker Hughes will post 2.25 EPS for the current year.

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date is Monday, November 4th. Baker Hughes’s payout ratio is 46.93%.

Baker Hughes 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.