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

Sequoia Financial Advisors LLC lifted its holdings in Baker Hughes Company (NASDAQ:BKR) by 84.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,728 shares of the company’s stock after buying 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 hedge funds and other institutional investors have also modified their holdings of the business. Capital International Investors acquired a new stake in Baker Hughes during the third quarter valued at $729,670,000. Capital World Investors boosted its position in Baker Hughes by 7.1% during the third quarter. Capital World Investors now owns 47,546,388 shares of the company’s stock valued at $2,316,462,000 after purchasing an additional 3,153,709 shares during the last quarter. PFA Pension Forsikringsaktieselskab acquired a new stake in Baker Hughes during the fourth quarter valued at $119,078,000. First Trust Advisors LP boosted its position in Baker Hughes by 25.7% during the third quarter. First Trust Advisors LP now owns 9,325,417 shares of the company’s stock valued at $454,334,000 after purchasing an additional 1,906,384 shares during the last quarter. Finally, Capital Research Global Investors boosted its position in Baker Hughes by 7.1% during the third quarter. Capital Research Global Investors now owns 25,903,241 shares of the company’s stock valued at $1,262,033,000 after purchasing an additional 1,728,016 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Insider Activity

In related news, insider Maria Georgia Magno sold 5,063 shares of the business’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $59.04, for a total transaction of $298,919.52. Following the completion of the transaction, the insider owned 15,555 shares of the company’s stock, valued at approximately $918,367.20. The trade was a 24.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Lorenzo Simonelli sold 272,594 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 866,444 shares of the company’s stock, valued at $50,938,242.76. This represents a 23.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 550,250 shares of company stock valued at $32,988,331 in the last three months. 0.19% of the stock is owned by insiders.

Baker Hughes Price Performance

NASDAQ BKR opened at $65.24 on Wednesday. Baker Hughes Company has a twelve month low of $35.83 and a twelve month high of $70.41. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.77 and a current ratio of 2.13. The stock has a market capitalization of $64.72 billion, a PE ratio of 20.84, a P/E/G ratio of 2.35 and a beta of 0.97. The stock has a 50-day simple moving average of $62.04 and a 200 day simple moving average of $55.25.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 earnings per share for the quarter, topping 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 business had revenue of $6.59 billion during the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter in the previous year, the firm earned $0.51 EPS. The firm’s revenue was up 2.5% compared to the same quarter last year. Research analysts anticipate that Baker Hughes Company will post 2.32 EPS for the current year.

Baker Hughes Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Tuesday, May 5th will be given a dividend of $0.23 per share. 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 currently 29.39%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Royal Bank Of Canada lifted their price objective on Baker Hughes from $68.00 to $71.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. Piper Sandler lifted their price objective on Baker Hughes from $64.00 to $72.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Jefferies Financial Group reissued a “buy” rating and set a $80.00 price objective on shares of Baker Hughes in a research report on Sunday, April 26th. Capital One Financial lifted their price objective on Baker Hughes from $60.00 to $66.00 and gave the company an “overweight” rating in a research report on Friday, April 10th. Finally, Susquehanna lifted their price objective on Baker Hughes from $70.00 to $80.00 and gave the company a “positive” rating in a research report on Monday, April 27th. Eighteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Baker Hughes presently has a consensus rating of “Moderate Buy” and an average price target of $69.18.

About Baker Hughes

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.