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

Sequoia Financial Advisors LLC trimmed its holdings in shares of Baker Hughes (NASDAQ:BKR) by 40.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the 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 SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Raymond James Financial Inc. bought a new position in shares of Baker Hughes during the fourth quarter worth approximately $291,289,000. Hotchkis & Wiley Capital Management LLC increased its stake 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 worth $394,775,000 after acquiring an additional 2,811,940 shares during the period. Congress Asset Management Co. acquired a new position in Baker Hughes in the 4th quarter valued at $107,155,000. Yaupon Capital Management LP acquired a new position in Baker Hughes in the 3rd quarter valued at $47,296,000. Finally, Eagle Asset Management Inc. lifted its position in shares of Baker Hughes by 18.6% during the 3rd quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company’s stock valued at $198,326,000 after acquiring an additional 860,219 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

Insider Activity

In other news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $44.77, for a total transaction of $358,160.00. Following the transaction, the executive vice president now owns 173,302 shares of the company’s stock, valued at $7,758,730.54. This represents a 4.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on BKR. Wells Fargo & Company boosted their price target on Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Bank of America boosted their target price on shares of Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Jefferies Financial Group increased their price target on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Royal Bank of Canada upped their target price on Baker Hughes from $49.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. lifted their price target on Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $51.06.

Baker Hughes Stock Down 0.4 %

Baker Hughes stock opened at $43.70 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. The stock has a market cap of $43.27 billion, a PE ratio of 14.66, a price-to-earnings-growth ratio of 2.00 and a beta of 1.30. The firm’s 50-day simple moving average is $44.90 and its 200 day simple moving average is $41.21. Baker Hughes has a fifty-two week low of $30.93 and a fifty-two week high of $49.40.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. Research analysts predict that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th were given a $0.23 dividend. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date was Tuesday, February 11th. This represents a $0.92 annualized dividend and a yield of 2.11%. Baker Hughes’s payout ratio is currently 30.87%.

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.