Sequoia Financial Advisors LLC Has $1.13 Million Stock Position in Baker Hughes Company $BKR

Sequoia Financial Advisors LLC raised its position in Baker Hughes Company (NASDAQ:BKR) by 84.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,728 shares of the company’s stock after acquiring an additional 11,292 shares during the period. Sequoia Financial Advisors LLC’s holdings in Baker Hughes were worth $1,126,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Krilogy Financial LLC raised its holdings in Baker Hughes by 3.2% in the 4th quarter. Krilogy Financial LLC now owns 5,722 shares of the company’s stock valued at $261,000 after acquiring an additional 180 shares in the last quarter. Formidable Asset Management LLC raised its holdings in Baker Hughes by 3.2% in the 4th quarter. Formidable Asset Management LLC now owns 7,341 shares of the company’s stock valued at $358,000 after acquiring an additional 225 shares in the last quarter. CoreCap Advisors LLC raised its holdings in Baker Hughes by 16.4% in the 4th quarter. CoreCap Advisors LLC now owns 1,619 shares of the company’s stock valued at $74,000 after acquiring an additional 228 shares in the last quarter. AMG National Trust Bank raised its holdings in Baker Hughes by 3.7% in the 3rd quarter. AMG National Trust Bank now owns 6,831 shares of the company’s stock valued at $333,000 after acquiring an additional 246 shares in the last quarter. Finally, JFS Wealth Advisors LLC raised its holdings in Baker Hughes by 45.1% in the 4th quarter. JFS Wealth Advisors LLC now owns 811 shares of the company’s stock valued at $37,000 after acquiring an additional 252 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Wall Street Zen cut Baker Hughes from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Stifel Nicolaus upped their price target on Baker Hughes from $63.00 to $74.00 and gave the company a “buy” rating in a report on Monday, April 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Baker Hughes in a report on Friday, April 24th. Evercore reaffirmed an “outperform” rating and issued a $76.00 price target on shares of Baker Hughes in a report on Monday, April 27th. Finally, Johnson Rice started coverage on Baker Hughes in a research note on Wednesday, February 25th. They issued a “buy” rating and a $68.00 price objective on the stock. Eighteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.18.

Baker Hughes Trading Up 1.0%

BKR stock opened at $65.24 on Wednesday. Baker Hughes Company has a 1-year low of $35.83 and a 1-year high of $70.41. The firm has a market cap of $64.72 billion, a P/E ratio of 20.84, a P/E/G ratio of 2.35 and a beta of 0.97. The business’s 50 day moving average is $62.04 and its 200-day moving average is $55.25. The company has a current ratio of 2.13, a quick ratio of 1.77 and a debt-to-equity ratio of 0.79.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.09. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The company had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same period in the prior year, the company posted $0.51 EPS. The company’s revenue was up 2.5% compared to the same quarter last year. Equities analysts anticipate that Baker Hughes Company will post 2.32 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, May 5th. Baker Hughes’s payout ratio is presently 29.39%.

Insider Activity at Baker Hughes

In other news, insider Maria Georgia Magno sold 5,063 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $59.04, for a total value of $298,919.52. Following the transaction, the insider directly owned 15,555 shares of the company’s stock, valued at $918,367.20. The trade was a 24.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Lorenzo Simonelli sold 272,594 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $58.79, for a total value of $16,025,801.26. Following the completion of the transaction, the chief executive officer directly owned 866,444 shares in the company, valued at $50,938,242.76. The trade was a 23.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 550,250 shares of company stock worth $32,988,331 over the last three months. 0.19% of the stock is owned by company insiders.

Baker Hughes Company Profile

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm’s roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE’s oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.