268,778 Shares in Baker Hughes (NASDAQ:BKR) Purchased by Sienna Gestion

Sienna Gestion bought a new stake in Baker Hughes (NASDAQ:BKR) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 268,778 shares of the company’s stock, valued at approximately $9,449,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. UMB Bank n.a. raised its stake in shares of Baker Hughes by 18.4% during the 2nd quarter. UMB Bank n.a. now owns 1,873 shares of the company’s stock worth $66,000 after buying an additional 291 shares during the last quarter. Guinness Atkinson Asset Management Inc grew its position in shares of Baker Hughes by 6.9% in the second quarter. Guinness Atkinson Asset Management Inc now owns 7,205 shares of the company’s stock valued at $253,000 after purchasing an additional 467 shares during the last quarter. Checchi Capital Advisers LLC increased its stake in shares of Baker Hughes by 6.4% during the 1st quarter. Checchi Capital Advisers LLC now owns 8,151 shares of the company’s stock worth $273,000 after purchasing an additional 490 shares in the last quarter. Meeder Advisory Services Inc. raised its position in shares of Baker Hughes by 5.2% during the 1st quarter. Meeder Advisory Services Inc. now owns 10,438 shares of the company’s stock worth $350,000 after purchasing an additional 520 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Baker Hughes by 0.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 107,946 shares of the company’s stock valued at $3,690,000 after buying an additional 525 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Baker Hughes Trading Down 0.2 %

BKR stock opened at $34.67 on Thursday. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. The company has a market cap of $34.60 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 0.54 and a beta of 1.38. The business has a fifty day simple moving average of $35.12 and a 200-day simple moving average of $33.59. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $39.05.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.49 by $0.08. The company had revenue of $7.10 billion during the quarter, compared to analyst estimates of $6.81 billion. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The firm’s revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.39 earnings per share. On average, equities research analysts expect that Baker Hughes will post 2.24 EPS for the current year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Tuesday, August 6th were issued a $0.21 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $0.84 annualized dividend and a yield of 2.42%. Baker Hughes’s payout ratio is 46.93%.

Insider Buying and Selling at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 114,286 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now owns 616,339 shares of the company’s stock, valued at $23,759,868.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on BKR. The Goldman Sachs Group boosted their price target on Baker Hughes from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Wells Fargo & Company boosted their target price on shares of Baker Hughes from $35.00 to $40.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. UBS Group decreased their price target on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Wednesday. Jefferies Financial Group boosted their price objective on shares of Baker Hughes from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, Bank of America decreased their target price on shares of Baker Hughes from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $43.19.

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.