Mercer Global Advisors Inc. ADV Sells 4,587 Shares of Baker Hughes (NASDAQ:BKR)

Mercer Global Advisors Inc. ADV lowered its stake in shares of Baker Hughes (NASDAQ:BKR) by 16.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,691 shares of the company’s stock after selling 4,587 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Baker Hughes were worth $796,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of BKR. Redmont Wealth Advisors LLC bought a new stake in shares of Baker Hughes in the first quarter worth about $27,000. New Covenant Trust Company N.A. bought a new stake in Baker Hughes in the 1st quarter valued at approximately $34,000. Alta Advisers Ltd acquired a new position in Baker Hughes during the 2nd quarter worth approximately $42,000. Headlands Technologies LLC bought a new position in shares of Baker Hughes during the 2nd quarter worth approximately $48,000. Finally, UMB Bank n.a. raised its holdings in shares of Baker Hughes by 281.2% in the first quarter. UMB Bank n.a. now owns 1,582 shares of the company’s stock valued at $53,000 after purchasing an additional 1,167 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. TD Cowen raised their target price on shares of Baker Hughes from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, July 29th. UBS Group lowered their target price on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. Stifel Nicolaus increased their price target on Baker Hughes from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Morgan Stanley lowered their price target on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Finally, Jefferies Financial Group raised their target price on shares of Baker Hughes from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $43.31.

Insiders Place Their Bets

In related news, CEO Lorenzo Simonelli sold 114,286 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $35.00, for a total value of $4,000,010.00. Following the completion of the transaction, the chief executive officer now owns 502,053 shares of the company’s stock, valued at $17,571,855. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.25% of the company’s stock.

Baker Hughes Price Performance

Shares of NASDAQ BKR opened at $34.77 on Friday. The firm has a market cap of $34.70 billion, a P/E ratio of 19.42, a price-to-earnings-growth ratio of 0.59 and a beta of 1.38. The business’s 50 day moving average is $35.21 and its 200-day moving average is $33.80. 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 1-year low of $28.32 and a 1-year high of $39.05.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Thursday, July 25th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.08. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The company had revenue of $7.10 billion during the quarter, compared to analysts’ expectations of $6.81 billion. During the same quarter in the previous year, the business posted $0.39 earnings per share. Baker Hughes’s quarterly revenue was up 12.4% on a year-over-year basis. Equities research analysts predict that Baker Hughes will post 2.25 earnings per share for the current year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Tuesday, August 6th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend was Tuesday, August 6th. Baker Hughes’s dividend payout ratio is currently 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.